Home     Law Advice     Insurance Advice     Community    
Consumer Bankruptcy : Chapter 7, Chapter 13, Protection From Claims of Creditors
Go Back   FreeAdvice Legal Forum > BANKRUPTCY AND CONSUMER CREDIT > Consumer Bankruptcy
Reload this Page Still undecided, please help

Powered by Attorney Pages


  Find An Attorney In Your Area    
 

Reply
 
LinkBack Thread Tools Rate Thread Display Modes
  #1  
Old 09-17-2005, 02:30 AM
Junior Member
  
Join Date: Jul 2005
Posts: 10
Unhappy

Still undecided, please help

What is the name of your state?What is the name of your state? GA I do have another question. I know that the account with Sherman Acquisition has not reached the Sol yet. On my credit report it states the account was opened in 2003, but the last payment made on this credit card was 2002. So my question is does SOL start from my last credit card payment or when Sherman acquired the account and tried to collect? The amount is 8k and growing and my other debt all together runs about 27k and I am considering filing bankruptcy because of that account, but I don't know if 27k is too small an amount to file.
  #2  
Old 09-17-2005, 06:44 AM
Senior Member
  
Join Date: May 2001
Posts: 6,453
The SOL starts when you went into permanent default with the orginal creditor.
You don't give enough info as to the bk question. Nothing in the code specifies an ammount.
How much do you make, do you own a home and car with equity? If so, are they within the exemptions for your state?
  #3  
Old 09-17-2005, 09:11 PM
Junior Member
  
Join Date: Jul 2005
Posts: 10
Quote:
Originally Posted by bigun
The SOL starts when you went into permanent default with the orginal creditor.
You don't give enough info as to the bk question. Nothing in the code specifies an ammount.
How much do you make, do you own a home and car with equity? If so, are they within the exemptions for your state?
Right now I am receiving $350 a wk in workman's comp since Jan. of this year. I don't have a home and I own a car which is paid off. The only reason I am even contemplating bk is because of Sherman.
I appreciate your response.
  #4  
Old 09-18-2005, 04:25 AM
Senior Member
  
Join Date: Oct 2004
Location: Phoenix, AZ.
Posts: 3,081
Quote:
Originally Posted by jazzze7
Right now I am receiving $350 a wk in workman's comp since Jan. of this year. I don't have a home and I own a car which is paid off. The only reason I am even contemplating bk is because of Sherman.
I appreciate your response.

The best thing to do in your case is to file BK... You have to look at it in numbers...

You owe 27K in total bills plus 8K from Sherman, that is 35K that you owe... Youre bringing in 375/wk on workman's comp. That will not last forever, than you will be making 0/wk. 375X52 weeks(year) is $19.5K...

There is NO WAY you will repay the 35K... You're upside down...
__________________
Tenant Advocate

"Alaska landlord" has been permanently banned for providing inaccurate, misleading & potentially dangerous advice. Any of AL's previous posts should be heavily verified by a competent Real Estate Attorney.

Quote:
Originally Posted by Number21 View Post
Alaska landlord, please don't reply further to my thread, you'll just turn it into another pissing match.
Quote:
Originally Posted by Alaska landlord View Post
As tenants, you have no credibility.
Quote:
Originally Posted by Alaska landlord View Post
The landlord should not only be allowed to turn off the water, but he should also be allowed to throw OP into the street.
Reply

« Previous Thread | Next Thread »


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Forum Jump

All times are GMT -5. The time now is 06:17 AM.

Contact Us - FreeAdvice - Archive - Privacy Statement - Top

IMPORTANT NOTICE
THE VIEWS EXPRESSED ON THIS PAGE WERE NOT REVIEWED BY THE EDITORIAL STAFF OR ATTORNEYS AT FREEADVICE.COM. Thousands of professionally prepared and reviewed questions and answers in 130 legal categories are to be found at the Question and Answer pages at FreeAdvice.com.
FreeAdvice Forums are intended to enable consumers to benefit from the experience of other consumers who have faced similar legal issues. FreeAdvice does NOT vouch for or warrant the accuracy, completeness or usefulness of any posting or the qualifications of any person responding. Use of the Forums is subject to our Terms and Conditions which prohibit advertisements, solicitations or other commercial messages, or false, defamatory, abusive, vulgar, or harassing messages, and subject violators to a fee for each improper posting. All postings reflect the views of the author but become the property of FreeAdvice. Information on FreeAdvice or a Forum should not be relied upon and is not a substitute for advice from an attorney licensed in your jurisdiction who you have retained to represent you. To locate an attorney visit AttorneyPages.com. Copyright since 1995 by Advice Company. All Rights Reserved.