Posted on 09/10/2021 1:35:20 PM PDT by chasio649
Like eating an elephant, one bite at a time.
Lending Club?
May we assume they are legitimate charges and not I D theft?
My daughter-in-law drove my son to near bankruptcy as she handled all the finances in the family. We were called up there to try and resolve the situation, and had a treasure hunt in reverse. Every freaking drawer we opened had past due bills.
I spent the better part of the day calling and talking to these card holders and getting some pretty hefty discounts if I paid right away. There were times that I was amazed at how little they would take to clear the debt.
She was a past master at putting my boy down and at one point, when I told him he would have to act as an Old Testament ruler of the household, she leaned over, touched his hand, and said, "Dear, do you think you can handle it?" What chutzpah! I could have struck the woman, thinking that he sure as Hell couldn't have done any worse.
Any way, the smoke cleared, they resumed the marriage. She is back in charge of their finances now. I have written them off.
Are you serious?
Search Dave Ramsey
I keep getting phone calls offering to cancel credit card debt.
I have none, so ignore them.
Don’t know what their scheme is; they imply it is a govt. program.
That’s my vote. He’s been there, done that. (I think he will tell you to destroy all credit cards, for starters, which I agree with.)
So far AI has turned out to be really dumb—Turing would be disappointed so little progress has been made to this point.
The irony is that to imitate humans well you need a dab of stupid in their somewhere.
;-)
I agree.
I heard that President Trump declared bankruptcy 2 or 3 times. He’s a billionaire now.
You have a constitutional right to declare bankruptcy. It is nothing to be ashamed of. Good luck and yes, get a lawyer.
First it is credit card debt. Try to negotiate.
Harassing phone calls: Know Your Rights https://files.consumerfinance.gov/f/documents/cfpb_adult-fin-ed_know-your-rights-when-a-debt-collector-calls.pdf
Don’t put unsecured debt on a Home Equity Loan, that changes it to secured.
Consolidation Loans are fine, but the amount the lender writes off is now taxable.
Bankruptcy is difficult and nerve wracking, but may be the best option, even if you have to be in a full 5 year plan to pay off the debt. It stops the interest from accruing and under certain guidelines you keep your house or car, even if you file Chapter 7. It is best to talk to a bankruptcy attorney. You will be required to talk to a debt counselor anyway, so might as well have the attorney in your back pocket. And it will pay to find a good one!
Learn more here about bankruptcy: https://www.bkforum.com/ the folks here have been there and are giving back to those who need help.
Bankruptcy.
Exactly. Although obviously people should try to avoid getting into a situation where bankruptcy might be needed, it is a legitimate legal tool. Corporations do it. Mega rich do it if they find themselves in financial trouble. And non-wealthy people do it. On average, there are over 2000 bankruptcies filed every day in the United States.
Yes it will screw up your credit score and haunt your credit reports for years, but if you need it, you need it. And life really does go on afterwards.
When my ex insisted on bankruptcy, my lawyer consulted a bankruptcy atty...
Who recommended not and to get a thick skin for the phone calls. I wound up settling for less than half when I refi’d my house.
Never mind the hand wringing now you need the services of both the kind of help I mentioned. I believe there are ways you can work with the IRS to settle this but I strongly suggest you consult with a tax attorney and an account. Many years I ago is was in the same boat as you from a huge bill for a stay in an alcohol and drug rehab. My union was supposed to cover the cost. They didn't. I think I was about $12,500. I retained a lawyer from Jacoby & Meyers. It all worked out. In the end I paid about $2,000 to the rehab and about $3,000 to J&M. Good luck. And remember don't agree to any IRS settlement plan until you speak to an attorney.
I was simply making the point that my brother’s ex got stuck with the credit card debt during the divorce because she concealed it.
If he concealed it and they divorced, she could disconnect from the debt. I’ve seen it happen. I doubt it works the other way. Courts consider men to be ATM’s.
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