what do you have to give up if you file for bankruptcy?
admin | Sep 28, 2010 | Comments 3
do they come in to your home and take personal belongings? How much does it cost and how do you easily go about doing it? is their an simpler way to make creditors off your back if you can not pay?
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Filed Under: Bankruptcy
You are just beginning to accept your own road to salvation I see.
You are in the US even if, but there is lots you can do, especially if they cannot find you!
You fill out a questionnaire listing your assets and creditors. No one comes to your home. You can keep your home unless you cannot pay your mortgage, then you can include it in your bankruptcy. It cost me 12 years ago in Arizona about $750 for the attorney and $250 for the court filing fee. I went to bankruptcy court and watched other cases being processed and one person was allowed to keep his boat and car. You can make a deal with your creditors to settle your debts if they are in collection, for about half what you owe. You cannot include student loan debts. Collection agencies rather a lump sum payment. You cannot negotiate with a credit card company. I don’t know what kind of debts we are discussing and what your state laws are so I cannot comment further apart from to add that a bankruptcy can prevent you from getting other credit or renting an apartment and all the items stay on your credit report including bankruptcy for 10 years.
They do not come into your home and take stuff. You need to see a bankruptcy attorney. The cost can vary depending on your situation. Expect to pay $500 to $1000 for a “simple” bankruptcy. There is no simpler way to make the creditors off your back. They can’t hassle you once you file.