There'll be a huge debt to come.   What is the proper timing to declare bankrupcy?
149082
Never, buck up and pay off your own debt.
465098
Go to your bank and ask them to close it. You will probably need to sign a paper or two, and that's it.
324823
Establish a history of making payments on time and in full.  If you can demonstrate that you can pay off your debt in FULL each month, your credit will rise very quickly.\n\nThat is something that you want to work on asap, too, because the alternative (bankruptcy) is not a great experience!
623804
THIS IS NOT LEGAL ADVICE.  YOU SHOULD SEEK ADVICE OF COUNSEL WITH KNOWLEDGE OF LOCAL LAWS.\n\nBetter check your loan agreement, promissory note or other debt instrument.  Many companies include in the terms of their debt instruments a right to call the full amount due at any time, at their discretion.  If this clause exists in your debt instrument then they may be within their rights to do so.  If the clause is not in your agreement you may have some ability to fight their claim for immediate full payment. \n\nGood luck!
733694
Good question!!! \n\nYou need to wait until after you are discharged to really do anything. \n\nOnce the bankruptcy is discharged, you need to do the following: \n\n1. Pay your bills on time \n\n2. Dont incur any unecessary debt\n\n3. Open sucured credit cards that report to the credit bureaus.\n\n4. Wait 6 months after discharge, then dispute the BK with the 3 bureaus. After 6 months the BK filing is stored in the Federal Archives and rearely will it be verified, so it falls off!!! 100% true\n\n5. Continually build your credit by gradually opening low limit cards, like Eufora, Orchard, 1st Premier..... and asking for higher spending limits every 6 months. \n\n6. Open secured loans that report to the credit bureaus. \n\n7. Finance furniture (buy here pay here) that reports to the bureaus! \n\n8. Piggyback other peoples good credit accounts (BEST SECRET IN THE BIZ!!! follow this link: http://www.expert-credit-advice.com/building_credit.htm)   \n\n9. Dont file bankruptcy again! \n\nThere are the facts from a credit expert. \n\nYou have the right proactive attitude. Keep your head up, put in the effort, do the right thing and eventually you will look back on this bankruptcy and laugh. \n\nWishing you the best of luck!
403886
Time to think of other areas to consider...If you can afford it! It is a buyers market right now in the south east and soon the bubble will burst. So now is the best time to buy!
583064
im 25 as well and am DROWNING in debt.\ni feel for you, i havent filed bankrupsy yet but b/c i own a condo im just gonna sell it for the equity and clear up ny bills that way.\ngood luck to you
735509
Starting life with a bankrupcy doesn't sound a very happy beginning to me, why not get a credit card with ZERO interest for 12 months then pay the debt with it?\nHowever if you are not working  this can be nothing more than a way of putting off the evitable but it will give you time asthough It really does little to correct the problem in the long term. That's why many people come back to debt negotiation as a way of getting out of their financial problems and starting fresh start.\nMore here: http://finance.ebookorama.com \nalso plenty more to read here\nhttp://credit.ebookorama.com\nhttp://credit-cards.ebookorama.com\nhttp://credit-repair.ebookorama.com\ngood luck!
785376
Not too long !!!\nDollar is ready to explode !!!\nUSA econmomical policies does not make any sence.\nWe have huge budget and trade deficit.\nWe spent hudreds of billions in Iraq and what is our economical \ngain-none \nUntil end of 2008  $ will explode and with it other fiat currencies.\nGold,silver and other precious metals + commodities will atleast tripple probbably in next few years
976485
Wont affect. \n\nThe debt is with HSBC. \n\nGood try though. \n\nBankruptcy facts: http://www.expert-credit-advice.com/bankruptcy_facts.htm
917637
check this out I have £20.000 of debt then an £90.000 mortgage, a flat that is worth £115.000 if sold, no job and a car with half a tank of petrol and a boot full of tools oh and £0.25 cash, and to top the lot I used rapid restart on the jobseekers allowance after having two weeks work and have to wait 3 weeks to sign on then a further week for the money, hardley surviving on bits of cash paid work. Thanks a bunch Ben French. Would you be annoyed watching 12 years hard graft go down the swanny. 30 years old 35 years before retirement and the whole flat measures 17'x17' this diabolical and I earn good money when I can = £28000 to 35000 a year, so much for electricians.
176819
Call the original lender as soon as possible and set up a payment plan. If the loan is in default and with a collection agency, then you need to call the collection agency and set up reasonable payments with them. Do something as soon as possible. Making payments is better that not making payments. If you do not make payment arrangements there will be consequences that will affect your personal credit. Plus, if it is a government loan, if payment arrangements are not made, the government will garnish your wages, take your income tax, etc, and the delinquency will be on your credit history, preventing you from getting a home loan if you don't already own a home. I speak from personal experience.
711984
5-7 years, however the impact is less as time goes by.  Close to the 5-7 years period they will call you to settle on a smaller amount because they know it will drop of your report.\n\nAt this point you probably won't be paying the original loaner. Companies buy this bad debt for pennies on the dollar.  Say you had a bad debt for 1000.00  They buy it from the original loaner for 50.00 and try to get you to settle for 500.00.  450 profit for them.  They will attempt to make you feel guilty and tell you what how they are being helpful by letting you only pay 500.00  They can be nasty.
498516
Depends on how late it is. Chances are, the stop sign is already in place. It depends on the account and the lender. If you're dealing with a finance company or predatory lender, then your ship has already sunk.  Creditors report payments and delinquencies on a monthly basis to the big three (credit reporting agencies). They go by 30, 60, and 90 day delinquency.  They also report current payments but 60 and 90 days delinquent is REALLY, REALLY bad. Above that, forgetabout it.  Again, it depends on how late it is. If its 30 days or less, then you just need to bring it current and start paying on time. If you're beyond that, well..\n\n1)you can call the creditor to bring the account current by paying the past due amt and then make pymt arrangement\n2) if you don't have enough money, then arrange w/ them to  pay the most that you can and try to have them re-age the account (they'll bring the account current with an agreed upon min pymt amt.\n3) you can contact the creditor to arrange a settlement (in which case the account will be closed if not already)\nwhich is not good for your credit either by the way but better than a charge-off or lawsuit.\n4) get into a witness protection program and/or look up fair debt collections practices act info cause they will find you.\n\nhope this helps (I'm a former debt collector)
677179
If you managed to buy it in cash, just go for it. You can even ask for discount for full payment. Of course it is risky, make an appointment first and it's not too far to have a police supervision or a lawyer during that transaction. For me, if I can avoid myself from debt, I would be happy. That's a personal success.
220913
"Debt Snowball Plan\nThe principle is to stop everything except minimum payments and focus on one thing at a time. Otherwise, nothing gets accomplished because all your effort is diluted.\n\nFirst accumulate $1,000 cash as an emergency fund. Then begin intensely getting rid of all debt (except the house) using my debt snowball plan. List your debts in order with the smallest payoff or balance first. Do not be concerned with interest rates or terms unless two debts have similar payoffs, thenlist the higher interest rate debt first. Paying the little debts off first gives you quick feedback, and you are more likely to stay with the plan."\n\nHere's Dave Ramsey's site to help you.
805765
i reckon so, im just waiting for a collapse, as are a couple of my pals who have sold and rented keeping the profit in a bank. interest is due to go up this week to 5%, and it will need to go up again before february. sounds good to me, lots of cheap houses that have been repossessed because silly people cant keep up with the payments when the fixed rate runs out and the payments increase by 40% a month.