Inter Next Technologies, Inc., Internet Marketing Services, Reno, NV
Call (Toll Free)
(800)-601-1579
Community Area
Get FREE Counseling




*


Helpful Resources
Community
Popular Discussions
Creditmagic Twitter
Credit on Facebook

chapter 13

Post reply  Start a topic
Author Message
Options
Print this topic
Invite a friend
Email this topic
  Bookmark online
Add to del.icio.us
Add to YahooMyWeb
 
madesomebad choices
Guest






Subject: chapter 13
 
Posted on Sun Dec 06, 2009 11:08 pm  

My husband and I are terrified of filing chapter 13, how hard is it to repay, can you still have a life and chapter 13 or is the repayment plan so tough you wish you didn't file?
Doc

Doc

Joined: 02 Dec 2008
Doc's page
Posts: 178
Location: McKinney, TX


1295 Magic Points

 
Posted on Mon Dec 07, 2009 1:40 am  

Yes... There is life after (13)...

We see people with them all the time, who have been able to purchase homes and more... That said, it is a (relatively) long process...

In my personal opinion, from a credit standpoint, it is much easier to recover from a chapter 7... The initial damage is worse, but the recovery time is much quicker...

In either case, don't be afraid to challenge the bureaus reporting of the item, as these things can be removed, not only by credit repair companies, but occasionally by consumers as well...
_________________
-Doc Compton, Omega Credit Repair
I provide info for free, & all I ask is that you visit my site...
http://www.omegacreditrepair.com
You can also get tons of information here!
http://www.doccompton.com
Justin

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 1238



28944 Magic Points

 
Posted on Mon Dec 07, 2009 6:03 am  

Hi madesomebadchoices,

Why are you terrified about filing chapter 13? In fact, it is a reasonable option for people who have to been able to repay their debt. Chapter 13 bankruptcy is also known as wage earner's plan. In this you have to offer a repayment plan to the creditor according to your capability. Normally, you get 3-5 years for repaying the debt. However, if your income is lesser than the state median, then you can apply to the court to increase the time limit.

Chapter 13 bankruptcy provides the advantage of saving your property from being foreclosed. Also, according to a provision under chapter 13, the cosigner need not carry the debt burden. You can also rearrange your secured debts for life time.

So, take it a little easy and file for chapter 13 bankruptcy.
_________________
All the Best Smile
Justin
debranewell2008



Joined: 10 Oct 2009
debranewell2008's page
Posts: 591



109 Magic Points

 
Posted on Mon Dec 07, 2009 7:43 am  

It really depends on your situation as to how much your repayment plan is under chapter 13 and what all needs to be included. I have filed for both I started out with 13 and had to covert it to a 7 because I couldn't afford the plan payments and keep my mortgage at the same time. But I am single with one income as well. With it being two of you and both of you having incomes you should be ok doing 13. And yes it is live after filing bankruptcy less than 3 years later my score is allowing my credit again. Not because I want or need it. Because I am trying to improve my credit score.
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3931



525 Magic Points

 
Posted on Mon Dec 07, 2009 11:56 pm  

You are right, there is life after bankrupcy, you can start all over and start building your credit right away.

Try to learn from your mistakes, take the second chance and do well with it.
atxgirl
Guest






Subject: Private student loans
 
Posted on Tue Dec 08, 2009 4:17 am  

Can private student loans be dealt with by either credit counseling or filing under chapter 7 or 13? I've read no in a lot of places, but there's gotta be something we can do, right?
carol

carol

Joined: 27 Jun 2006
carol's page
Posts: 1299
Location: Los Angeles, California


30064 Magic Points

 
Posted on Tue Dec 08, 2009 10:08 am  

Hi atxgirl

Bankruptcy today has got a lot stricter rules than earlier. With private loans for students, you must show 'undue hardship' to be able to file Chapter 7. Usually in federal loans you are entitled to defer payments for up to 3 years. There is no such leniency in a private student loan. However, there are some creditors who may offer such deferments voluntarily.

Abut getting it consolidated, yes, you can get it done yourself or may appoint a professional to do it for you. I would suggest first try it out yourself.
_________________
Keep in touch
Carol
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3931



525 Magic Points

 
Posted on Tue Dec 08, 2009 3:09 pm  

I did not know that the rules had gotten much stricter with the student loans, I suppose they would have too or everyone would be dumping their student loans and not paying them.

I am with Carol on this one, think you should maybe look at consolidation, that may be your best bet. Goodluck, hope you reach your goals.
atxgirl
Guest






 
Posted on Tue Dec 08, 2009 8:28 pm  

Thanks Carol! Yeah, I know they need to be paid, I'm glad there isn't ways to completely dump them, however, in this day and age it's hard to come by steady employment. But how do you suggest I go about doing it myself?
Johndoe234



Joined: 12 Dec 2009
Johndoe234's page
Posts: 7



148 Magic Points

 
Posted on Sat Dec 12, 2009 11:37 am  

Chapter 13 bankruptcy is an interest-free debt repayment plan through which you consolidate your debts and make a payment on your debt over a 3 to 5 year period. While in a Chapter 13 debt repayment plan, the creditors cannot collect from you, and the creditors are required by a Federal Court order to adhere to the terms of the plan.


PUERTO VALLARTA and RIVIERA

NAYARIT REAL ESTATE
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1883



1916 Magic Points

Subject: credit
 
Posted on Mon Dec 14, 2009 12:47 am  

Sounds like everyone is giving you good advice. I wasn't sure about the difference between 7 and 13, myself. I want to say, too, We all have made bad choices in the past. The IMPORTANT thing is that you learn from them. It sounds to me you are doing just that...wanted to clean up your credit, deal with what you need to deal with, and 'start over'.
Aaron
Guest






Subject: Chapter 13 bankruptcy
 
Posted on Tue Jan 26, 2010 7:12 am  

Hi madesomebadchoices,

First of all why are you terrified of filing the chapter 13 bankruptcy? It's a good option for people unable to pay their dues normally. Moreover under this chapter 13 you need not lose any of your property which is possible under chapter 7 bankruptcy.

Under chapter 13 bankruptcy you need to offer a repayment plan which should include how you will pay each of your debts. However the priority debts are to be paid in full.

I should also add that their is life after filing chapter 13 bankruptcy, though it's a long process. You need to be optimistic and you need to have enough patience.

For anymore details about the repayment plan you can check the NOLO website.

Thanks.
FreedomDM

FreedomDM

Joined: 28 Oct 2009
FreedomDM's page
Posts: 105
Location: Florida


2287 Magic Points

 
Posted on Wed Mar 10, 2010 6:56 pm  

I say chpt 13 is a glorified debt consolidation plan with a nasty BANKRUPT stamp on your credit report identifying your means of absolving your debt as a negative for 10 years.

If you can afford your bills a means test shud qualify you for a chpt7 - losing personal property in a chot7 really depends on what state you live in.

Either way there is life after bankruptcy but it comes at the cost of very high interest rates to re-establish credit. Lenders are willing to provide you new credit but at high rates and usually with annual fees, etc.

Good luck and any other questions feel free.
_________________
Michael J Brazier
Performance Based Debt Relief
NightStar



Joined: 10 Mar 2010
NightStar's page
Posts: 142
Location: Illinois


3146 Magic Points

 
Posted on Thu Mar 11, 2010 1:05 am  

Be careful of the chapter 13, it is hard with the payment plan they set up, not all people can make it. I have seen a lot of chapter 13 filings having to be later converted to chapter 7.

If that happens you are stuck with a chapter 13 for 7 years and a chapter 7 for 10 years. It is filthy that they can double tag you on bankruptcy when that happens.
_________________
Credit Cards
Credit Reporting Information
Credit Repair Info
Keithmit
Guest






Subject: beautiful russian girls
 
Posted on Sun Jul 07, 2019 8:00 am  

Five strategies i fall in love with when it comes to Lewis Capaldi

he's the name inside everyone's mouth area for the time being and not because of the size of his superb release album. Lewis Capaldi is the best relatable pros to lead the stock chart in for a long time, that being said even if you're not a fan of michael's music, you won't aid to and represent keen on the as most people.

Lewis Capaldi for show toward the russian ladies O2 academy Brixton, english 2019 / photo mortgage: Ollie Millington/Rmv/Zuma Press/PA illustrations

he or is similar to regarding us. so he tells you enjoy the particular us. that she dines resembling among us. and simply she is similar to weird discomforting all of us as. all right, well we aren't all distantly relevant to a dr,a dr that, But in all other caution Lewis Capaldi is not the sleek take celeb toy trucks come to anticipate from rising megastars. may edward Sheeran purchased the fact that coy, Brooding solution which entails him anytime you are he began out. Lewis entirely feels our buddies. (please be connected with lover, Lewis!)

2. she has amusing

I don't believe i'm not a particularly treasured gazing interview with a musician this much in aged (even with Billie Eilish, as you can imagine). the individual neglects to build low this man's lingo anybody, And i cannot read enough of his or conscious depricating humour and excellent habit of intensified oversharing. Sophomoric humour seriously isn't for just anyone, nevertheless, remember, though,but we simply cannot aide producing a chuckle any time a new interview doesn't work.

3. his particular respond to Noel Gallagher's self deprecation

rrt is safe to say Lewis isn't in the least bit badly affected any time you are Noel Gallagher brand name her dad an "fool" even though calling now this generation's music "Fing wk, basically, He am enthusiastic they had gotten slagged away from by the first sort oasis star themselves Instagrammed streaming a couple of times it, Exclaiming "i have forever peaked,

4. your music

typically. after all, which rookie invested seven weeks at just a variety one together with his single a person your family dearly loved, extracted from their particular likewise good be released studio room book Divinely Uninspired on to a Hellish extent. will be sincere popular burst completely together with prospects together with lighting hearted combined with comedy unique character, in addition to the desire completely preoccupied.

5. he believe a compensation conjunction which has Greggs

if you are recognized you find all kinds of the opportunity to form groups with assorted varieties, many of which are very exciting without a doubt. We is only able to imagine the fact Lewis Capaldi has experienced plenty of offers, nonetheless,however it so, which one how can your lover require? Greggs. yes. usually the mate great britain bakery stringed accessed along to your ex boyfriend regarding your marriage and he took a little up, even now undertaking your day doing effort endure delinquent russian mail order brides the reverse at a nearby part. phone.

Quick Reply
Your Name
Subject
Message body
1, 2  Next  
Page 1 of 2

 
Delete this topic Move this topic Lock this topic Split this topic 






Page loaded in 0.095 seconds.