Unfortunately I have more unsecured credit card debt then I can handle. I am young, dont have a house or other main obligations. I am afraid of BK and the effect it could have in my line of work and possibly getting a future job. Can I just move to another state and start over? Hope the creditors dont find me (dont apply for credit, etc) and then I wont get any judgments? If I can wait out the statute of limitations I am ok right? If I do get a judgment I can reverse it latter since I was not served and prove I was living in another state. Will this work?
I don't want to sound harsh but you need to man up,for one thing you can run but you can't hide nor can you hide from a default judgment.If you apply for a driver's lic,they got you,go to work they got you.What you will find is everyone of us has faced our demons and didn't run.Just wait for more people to post than make a plan to get yourself out of this.
Well the other option is BK. I am sure I am not alone in my situation. But if I have other options instead of BK I want to find them.
You can stay put and wait and or tough it out. You may or may not get sued and if you do at least you will be around so as to not default. YOU ARE GOING TO HAVE TO KEEP TRACK OF WHAT HAPPENS SO IF AND WHEN YOU HAVE TO GO TO COURT YOU WILL BE ABLE TO DEFEND YOURSELF. Oh yes, bankruptcy is an option and a GOOD option for a lot of GOOD people, that learn from what happened. It is NOT easy any more to do a bankruptcy . How much do you owe? What do you have? And how much do you make? Woofer
His problem is that his name is neither Chrysler or GM. Chrysler just filed or will in the next few days and it is said they will come out stronger than ever before. Of course, getting another few billion in TARP money won't hurt them any either. The Governor of Michigan says it will be one of the best things that ever happened to the state of Michigan. Maybe s/he should change the name to Chrysler and see if the Govt. will give another bailout. Seems to me that any government that thinks they can spend their way out of debt might do just about anything. Running sure isn't going to be the answer to the OP's problems.
Not knowing your age bk goes off your credit report in years,the neg. credit in 7 yrs.So you can start anew with a clean slate.Wiser in your credit decisions,but you can start rebuilding far before the 7 yrs.And even buy a house with a bankruptcy on your record.
I do see though where you can check to see if anyone filed bankruptcy in public records so I think that that stays forever? Anyway, bankruptcy is a good option for many. AND I think the little people should get a break : ) Woofer
I have almost 6 figures in debt I have a great job and was able to pay my debt I did have a payment plan and was working towards getting it paid. I had 6.9% rates on most my cards Now I cant pay since credit card companies decide it is a wonderful time to rates from 6.9% to 26% This rate jacking should be illegal. Now I have no choice but to not pay. 6.99% was manageable but 26% is impossible. I am worried that I can not file BK while I have a job. I will need to quit or something. This new BK law really sucks. I will not do chapter 13. Why do BK unless you do 7? Makes no sense, unless you own a house or something.
Yes that interest jacking is a killer.GIve them a call and see if they can do something to help you out... They probably won't . However IME when you go to 90 days late they will negotiate with you as far as either reducing the rate for a year... NO interest for a year of take some money off the balance. When I was in debt the credit card companies that wanted to work with me got paid...The ones that didn't well they didn't get paid did a charge off and sold the debe and NONE of the jDB's ever got paid. Another thing is how about paying off the smaller amounts on the cards so you can get them to zero balance. Good luck! Woofer
