Hello All, I was talking to a friend tonight and he needs help and this is the perfect place to ask for advice..He is in about 20k worth the debt.They were having a hard time paying this debt so his wife joined one of those ccc agencies.Right now he is unable to pay that due to the fact he was laid off..I know from reading the board and talking with you all the ccc is not the way to go but they allready did this befgore i found this board..I told him BK is the way to go.We are going to see a lawyer this week but i was hoping you all could give us some advise..The sad thing is this guy didn't even know he was in debt till about a year and a half ago when he applied for a car loan..His wife signed for credit cards and went to the casino and spent it all without him even knowing.He wants the big D but needs to clear up his financials first or may do it at the same time of filing for a BK..Most of the debt is credit cards and a loan.He doest want to have his wife put in jail either tho..What are the chances of getting a BK?We live in Massachusettes.. Any help would be greatly appreciated thanx !
Bill it sounds like your friend needs a reality check. Fact: 20k debt. Fact: he already joined ccc which is much worse than BK. Fact: he has no income because he was laid off. Sounds like a great candidate for chapter 7. How will he pay the attorney? You say he WANTS the big D? I assume "D" stands for divorce? Clearly he needs a divorce and a chapter 7. That will get him a fresh start and he'll be much better off. But he cannot safely build new credit without income. He can check for info regarding a simple divorce in the Commonwealth of Massachusetts at http://nolo.com. He can get info on a simple 7 there as well. Maybe there is no need for an attorney.
Thanx i will check that site out..His brother said he would pay for his divorce and any legal fee's but will not pay his debt..Yes this guy is in another world..He is a great person but his wife took full advantage of him..All this guy did was work 70 hour weeks and give her the check to pay bills for the past 12 years..This is how sly she is..She would make the checks out and put them in the bill envelopes..Then she would go to the casino and make a new check out to them and bye bye $$ The bill envelope would be put to the side till she had $$ to pay it..Get this she would give him $40 for the week.Which is ok cuz the guy dont spend..He wants a new start but he has that Baby to worry about and wants to take him but needs to get on his feet..The thing is he made plenty of $ to pay the debt but it just never got paid...
Nice wife!!!!! I live in MASS and I filed for chapter 7 in 1999. I was out of work for quite awhile and to prevent foreclosure on my house, I resorted to that. I had tried to deal with the collection calls and all that crap, but BK just sounded like the right thing to do at the time. Back then, it cost me $800.00 which had to be paid up front before they would do anything. For me, it was the best thing I did. Totally wiped out all my debt and I have been able to re-establish my credit. At the time, I had over 11 credit cards and without counting my house was over $45,000 in debt in credit cards and loans. It took only 2 months before I was approved for a new credit card. I was immediately approved for a car loan and have had 3 auto loans since then. I now drive a Lincoln! So yes....there is life after BK and it is better than pre-BK~for me anyways. it was a little difficult finding companies that would give me credit at first, but they are out there...you just have to search a little. You will start off with a higher interest rate at first, but once you get the one loan paid off with that higher interest rate, I have found that the rest are a cake walk. Poor guy!
