if i owed $5000 to differant agencies and i have been placed on collections should i file for bankruptcy?
113813
No that is not much debt just try to make payment arrangements and pay monthly payments to ensure your credit is not ruined.  Bankruptcy stays on your credit for 7-10 years that is a long time
208930
It depends on how your 'Community Property' laws in your state work.\nYou might want to retain a financial lawyer, or at least hunt around for a decent one experienced with financial matters.\nI would suggest you keep your finances separate, too. Stuff only in your name and such.\nOn a side note...even if it is illegal, creditors will say anything and everything to get money out of you. \nIf they've already discharged the bankruptcy, creditors cannot bother you anymore unless you fail to pay on agreed terms setup in the bankruptcy. We only had a couple of issues with creditors, but, as soon as you say it was discharged and give them the doc-number,they'll usually leave you alone.
736317
You got a consolidated loan setup to lower interest on multiple loans you had trouble paying. That's your fault. Keep on the plan you have now or declare bankruptcy.
86076
Go to the Fair Debt Collection Practices Act (Federal) read it and understand the rules. Collection companies purchase debt for penny's on the dollar. They buy the debt in quantity and if only a few people pay for even bad debts they come out ahead. Go to "Nolo Press" they have excellent books on the subject. If you were actually served with a suit you will need to file an answer. You must file within the time limit set out in the papers you were served. Failure to answer can have dire consequences as they can geta  default judgment,  if you do not show up. If it is in small claims court or a Justice of the Peace Court you may not need an attorney. Demand that they provide you complete documentation to show that you owe the debt and that they own the debt. Many times if you do this prior to suit litigation never happens. Good Luck
414252
The previous answer is untrue. \nAs per the Fair Debt Collection Practices Act, if you TELL them to cease and desist from calling you, it is usually sufficient. If not, you'll need to put your request in writing, and you're well within your rights to do so. If you owe them money, that's one thing, but they don't have a right to call and harass you. Continued calling after you've advised them to stop constitutes harassment.\nIf you still have problems, even after putting your request in writing, contact the FTC.\nI pray that your financial situation improves, too. :)
664804
They will not discharge your bankruptcy until you do so.  The judge/trustee will dismiss it and collection procedures will begin again by your creditors.
1028110
I would think pretty unlikely as the filing fee is likely at least $65.00 depending on where you live. He may turn you over to a collection company though and once they tack on months of finance charges and other fees, if your balance gets above $500.00 they will likely sue. Just pay it. It is only $200.00.
881806
I filed for bankruptcy 4 years ago. I made payments to my lawyer. I couldn't really afford one payment. Some of them will offer a payment plan.check into it
213518
Depends on a fewthings. How much the debt is for, where the transaction too place, type of credit agreement/contract.\n\nWould take too long to describe all options here.  But in a nutshell, if it's a small debt under $5000 they will sue you in Small Claims Court.  Do a search on the web for details on how they work in your state/county.  They are all a little differant.\n\nWhat concerns me is you mention an attorney is on the case. That implies the debt is big, over $5000.  Then you will be sued in District court, which is a lot more involved and will require you get get an attorney.  If you lose, you will be paying court costs, which also increase in District Court.  \n\nGood luck.\nIf you need more specific answer or encouragement write me. I am not an attorney or credit counsoler, just someone who has been down that road and have counseled many others.\n\nStudly
16416
bankruptcy should be the last resort if you only have small debts then you should either dispute them with the creditors or negotiate a payment schedule with them if you look to wipe out your debts that you brought upon yourself then you should PAY THEM\nremeber bankruptcy cost everybody money by rasing rates and prices on goods so consider it carefully
295321
Here's an idea... pay the $500-$700 you'd give a bankruptcy trustee to your creditors, and work yourself out of debt.  Don't wave the white flag of bankruptcy... have some self discipline and get out of your situation on YOUR terms!
311525
If you don't know ask an attorney. They will ask who sent it you to. There is a lot of missing info here. Are you being sued? Did you file for bankruptcy? Has a family member passed that owned a debt? In these kind of matters, stick with the advise of a professional to protect yourself, and not someone you've never met on yahoo.
1072675
I had a judgement filed against me. I paid the debt. I am now in the process of debt recovery. I did find out that when they file a judgement, you can call the lawyer in charge of the action and talk to them about debt repayment. The interest didn't mount up either after the judgement was filed. The only draw back is that they keep it on file for the next 6 years after the debt is satisfied
925813
Bankruptcy shoudl be a last resort! \n\nIf you have to file, then make sure you know what your getting into. \n\nHere are some very informative bankruptcy facts. \n\nhttp://www.expert-credit-advice.com/bankruptcy_facts.htm\n\n\nGood luck to you!
628743
I wouldn't think so. Report it to Human Resources, then to your bankruptcy lawyer. Bet it stops then.
416154
the irs will make a payment arrangement and charge you interest. if the taxes are more than 3 years old, you may be able to file bankruptcy and have them discharged as well as your other debts.
722487
You will have to check the statute of limitations in your state.  That's a long time ago so it's possible that the statute has passed.  Collections agencies will still come after you and lie to collect money even after the statute has passed.  Don't agree to anything without checking first.