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bcohen
Registered User
Last Activity: Yesterday, 11:49 PM
Joined: 06-12-2010
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  • bcohen
    replied to Repo question
    If you surrendered a vehicle in your bankruptcy, or stopped paying after the loan was discharged, the lender cannot legally report a repo on your credit reports. Therefore, there is no reason to admit to anything. Even if you had a vehicle repossessed before you filed, if it's no longer on your credit...
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  • bcohen
    replied to So confused
    Accidental injury or disability is a common reason for needing to declare bankruptcy. Usually, this is due to the combination of high medical bills and loss of income. The only important caveat is to delay filing until you are finished incurring medical debt (so the medical bills can be discharged...
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  • bcohen
    replied to Surrendered Vehicle
    As time progresses, the vehicle becomes less valuable, not more valuable. If it wasn't worthwhile to the lender to pick it up 2 years ago, they probably aren't coming for it at all. You can probably keep the car, and drive it until the wheels fall off, at which time you will have to try to get rid...
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  • bcohen
    replied to Reaffirming question about our car loan....
    Generally speaking, there are only two times you should reaffirm anything: "never" and "when Hell freezes over". At all other times, it is best to "ride through", i.e. to keep paying the loan if you want to keep the home/vehicle, but not reaffirm. The only exception should...
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  • This is a late April Fool's Day joke, right? Even assuming that your income places you in a Chapter 13, and even assuming that you would be in a 100% plan, bankruptcy is still far cheaper and better than dealing with judgments and garnishments. Consider the following:

    1. Just because...
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  • This is incorrect. Many industries, including banking/financial services conduct a pre-employment credit check, and will not hire people with an excessive debt load, delinquent debts, collections, and/or judgments. The theory is that such individuals would be more likely to steal, accept bribes, or...
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  • You do not gain anything by talking to creditors at this point, especially if you aren't going to pay anything further (which you should not do since you're planning to declare bankruptcy). Your best option is to ignore their phone calls, hang up immediately if you discover you have accidentally answered...
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