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@luischannel04 5 күн бұрын
Great advice! Thank you.
@gogoman1 8 күн бұрын
my wife and I filed bankruptcy dec 31st 2024 and we filed our taxes January 29th 2025 will the tax return be prorated at all we are in Indiana by the way
@brettrichardson9762 14 күн бұрын
Is it okay to have all my accounts open and payments current?
@lasvegasadventures8729 15 күн бұрын
If my primary residence is the collateral for the EIDL loan and I decide to just walk away from my house, will SBA come after my other assets AFTER they get whatever equity they can from the house?
@RealityTrailers Ай бұрын
I recently researched a few of those "questionable counseling services", including Ascend, Freedom and another one, and they all love to use fast talking sales reps. and very questionable tactics, some of which are either borderline illegal, unethical or just plain "illegal." *ALWAYS SEARCH THEM FROM THE BBB - Better Business Bureau, it may surprise you how many complaints there are concerning certain credit relief business and maybe some non-profits.
@k.musitano4754 Ай бұрын
What about the crypto ? I had 98k dept couldn’t pay and not with the interest etc shows 189k with couple business cards I am here with the work visa and immigration still didn’t send my work visa so I can’t work to pay ,no income now and I had 20k on crypto and I transfer 16k to my ledger cold wallet Bcz that’s the only money I have now :( do u think that ledger transfer will be issue for me ?
@user-tg2ly7lh2p Ай бұрын
Is there something in the verbiage of the contract you would look for to legitimize a debt settlement arrangement?
@lilliananderson1986 Ай бұрын
I’m in S. California 🫤
@lilliananderson1986 Ай бұрын
On the phone right now with Debt Advisors of America. I’m afraid I’m going to make the wrong choice. I just received 2 summons for chase credit cards, so I’m dealing with that also. Help‼️
@renee4864 Ай бұрын
What do you do if the trustee is out of control? I've had a chapter 7 going on for almost 4 years and the trustee has been trying to deny my homestead exemption and force the sale of my home. I only asked to discharge about 30K and at this point my attorney fees are almost as much as I tried to discharge!
@eddystrong72 2 ай бұрын
What if you get sued by one of the debt collectors, what would be the next step and I am already in a debt consolidation program
@leahingraham5509 2 ай бұрын
Were homeless. Our tax refund is the one thing we were looking forward to to get a place. Not sure if we should wait to file bankruptcy
@brookston777 2 ай бұрын
What happens to all the money a person pays towards their bankruptcy after paying for a couple of years and it ends up being dismissed???
@jbsteven 2 ай бұрын
I had a WF card in 2002 and cant remeber if I paid it off or not. I stopped using the card back then. I just got served for that debt. If I had a balance, it is over 20 years old. Go figure...Now I have to hire an attorney and spend money on a debt that may not even exist. I have no way to prove it had a zero balance or not. Even if i did have a balance, the SOL is 4 years in Texas.
@kingqueen143 2 ай бұрын
Once upon a time, there was a lawyer who went to hell… He meets the devil and asked “why are you in hell just like me” It’s the Law… If you don’t obey the law, you will be in the same place as me.
@marciatapia9822 2 ай бұрын
Great you answered my first question
@PatGrider 3 ай бұрын
what happens to money i have in bank that was paid to me from insurance from a housefire to reimburse me for loss items and work to be done to house to restore it that has not been spent yet but is in the process of doing repairs? will they take it for bankruptsy?
@ED12222 3 ай бұрын
I’m going to be filing in a couple months. I have 9 cards and 4 with balances. Should I begin to close out the ones I am not currently using?
@Dragonball-live 3 ай бұрын
I fell in this any help on how to get out ?
@kevinmoore9524 3 ай бұрын
Great video. Thank You.
@destineeburns198 3 ай бұрын
What if the car you have in chapter 13 broke down and cant be fixed and now you need a new car?
@kevinmoore9524 3 ай бұрын
Thank You.
@A_King_In_Hiding 3 ай бұрын
Hello, enjoyed the video. I just have a question about the credit cards part. I just been discharged from chp 13 🙌🏽 you said the goal is to have 3 cards. Is that 3 credit cards right after the bankruptcy or after one year of having just one credit card.
@Albert-777 4 ай бұрын
Should high balances after chapter 7,be zeroed out as well?Does it matter even though the original balance is zero?
@alyssabowen2209 4 ай бұрын
This only works for people who can pay it off, but want it done sooner than the interest would allow
@pbandbonwonder9523 4 ай бұрын
We need a class action to force the department of education to put the provisions of this now not-so-new law into effect.
@bankruptcybailout 4 ай бұрын
True, it isn't so new now. If you really are having problems doing it, an attorney may be able to assist.
@GradyMorgan-i8e 4 ай бұрын
Where can find it in writing that Mississippi a debt collector only has three year debt or expired?
@bankruptcybailout 4 ай бұрын
Any basic search can get you that information. However, the statute of limitations is only a restriction on filing a lawsuit to collect. It usually doesn't act as a bar to trying to collect the debt other ways.
@tweetiebird Ай бұрын
@@bankruptcybailout This is very important because many debtors think they are off the hook once the statute of limitations expires! You can have a collection on your credit report for many years interfering with buying a home, getting a job, or car insurance rating increasing your premiums, credit cards, and interest rates. You either have to file bankruptcy which may not be practical as that is also a ding on your credit rating but you won't owe the money anymore and the "collection" has to be removed from your credit report. It also costs to file bankruptcy, so you have to weigh the pros and cons of whether to pay the debt sometimes you can negotiate a settlement for a lesser amount too if they think it is at risk of bankruptcy!
@SimulationSimulacrum 4 ай бұрын
My GMC AT4 was stolen and the truck will get paid off and I’m getting an additional 17,000 for a new vehicle. I haven’t been confirmed yet and I’m trying to decide if I should go through all that trouble or buy the vehicle cash.
@RichardLopez-ij5px 4 ай бұрын
Just do cash.
@SimulationSimulacrum 4 ай бұрын
@@RichardLopez-ij5px my wife isn’t involved in the bankruptcy and my S-corp has been left out, she’s going to get the vehicle in her name. Problem solved.
@RichardLopez-ij5px 4 ай бұрын
@@SimulationSimulacrum funny thing. I just talked to my wife who isn’t either so I’m likely filing that route. I’m about a year and a few months done with the Chpt13
@SimulationSimulacrum 4 ай бұрын
@@RichardLopez-ij5px still waiting to get confirmation, been making payments now for a year. The truck theft really postponed things and it was recovered last week but I’m gonna get rid of it most likely. Good job on keeping it up man!
@ELIT3ofUA 4 ай бұрын
I feel like such an idiot that I even considered it for 20 mins. Thankfully, I hung up and listened to my instincts. Confirmed by this video I need to do this all on my own. THEY CANCEL ALL YOUR ACCOUNTS DONT DO IT.
@bankruptcybailout 4 ай бұрын
Good for you and good luck.
@nerdypythonmedia3343 5 ай бұрын
Is Cordoba Legal legit?
@bankruptcybailout 5 ай бұрын
I am not in a position to rate or evaluate law firms and companies. Sorry.
@millennialsecularandauthri3338 5 ай бұрын
What about mags, ammo, suppressors?
@bankruptcybailout 5 ай бұрын
The same.
@DonOlszewski 5 ай бұрын
What do you expect a bankruptcy attorney?? Think about it he only makes money if you file BK!!!! WHAT A SCAM HE IS!!!
@bankruptcybailout 5 ай бұрын
Except we are a regulated profession and have a fiduciary duty to act in the best interests of our clients. GFYS.
@larryjanson4011 5 ай бұрын
but if you are poor and retired. they can not touch your bank accounts, as long as there is less than two ss payouts amounts in said accounts no matter the source. say you get paid $1,00USD a month from ss. you can not have over$2,000 USD in all accounts. debt collectors can not go after your house or car if there is a loan on them. but can put a lean on your home. as its “value” goes up. a car does not. if you are rich, your lawyer can protect you. .
@bankruptcybailout 5 ай бұрын
Okay, but who really wants to live like that? Do you really want to live in constant collection.
@Ash1Størm 5 ай бұрын
I went to Globe. How do I know if my loan was forgiven? Nothing is showing up on my credit report for it?
@bankruptcybailout 5 ай бұрын
You would need to contact whoever is serving the loan. Your credit report is not, strictly speaking, a legal document. It is not an exhaustive account of your debts. Credit reporting is voluntary.
@supasuprodchinda1350 5 ай бұрын
These gvv
@magbollot 5 ай бұрын
Very informative, great video for a Sunday!
@joshuawinchester9335 5 ай бұрын
I'm glad in Canada debt settlement is a legal process and set up with trustees
@seltzerstransport1093 6 ай бұрын
Man after the 314 meeting they don’t check shit, all they want is the monthly payment they don’t give two shits about you at all. I lived a normal life after the 314 meeting. I’m living proof.
@bankruptcybailout 6 ай бұрын
For the most part that is true. After the 341 meeting, it is smooth sailing for most cases.
@bobtackleberry9861 6 ай бұрын
About three minutes into this video there is at least one issue with stating creditors will no longer continue reporting a auto loan. There is a form, called an affirmation agreement, which you & your attorney can specifically tell the lender to continually report the installment loan as a positive tradeline. That means no ND-no data or any derogatory remarks. And the lender, on a monthly basis, will report the account as normal. The financial institution will sign the agreement. The second issue is that all information on the credit report is to be accurate. With the affirmation agreement, the account is not included in bankruptcy. As a result, you have a positive account being reported, especially if you are making payments while you are filing for bankruptcy. For those that are rebuilding their credit, the same rules apply whether or not you have filed for bankruptcy. On revolving debt, the optimal utilization is one percent. In addition, have an open installment account with an open revolving account will help your score. There are secured cards & credit builder loans that do not pull a credit report but report to all there bureaus. I am going to share three links that are irrelevant to this post on KZbin. The first is a video from John Alzheimer that worked at both FICO & Equifax. Then links to credit builder programs. Also, use Experian Boost & there are also companies out their that you can report your bills & rent to as well. kzbin.info/www/bejne/g2aWqIGippumqNE Anatomy of a prefect 850 FICO score www.creditstrong.com Credit builder www.self.inc Credit builder app.openskycc.com/securedplus/apply? Secured credit card, no annual fee no credit pull when applying www.openskycc.com More information myzing.com/personal/loans/personal/credit-builder-loan/
@rigojr91 6 ай бұрын
So does this mean you can dispute to have it removed from your credit after 4 years?
@bankruptcybailout 6 ай бұрын
No. Credit reporting has its own law about how long accounts can be reported. Credit reporting is federal law under FCRA. Statute of limitations is state law. They are different things.
@bradm2687 6 ай бұрын
3 years without 1 comment. ?
@bankruptcybailout 6 ай бұрын
LOL. Well, it is more of an inside the beltway content.
@bradm2687 6 ай бұрын
@@bankruptcybailout Guess I'm A Charity Case and nothing else. Nobody is a victim of the relentless Mail 📬 that comes offering credit when they turn 18. If we're going to save the planet have the Treasury stop printing money. The middle class works there Ass off and Guess who Gets there Money at the End Drs and Lawyer's
@bradm2687 6 ай бұрын
@@bankruptcybailoutwell I guess I'm a Charity Case not a victim of the relentless offers that come in the mail trying to suck me in with interest Forget interest and think about the principal. If we are going to save the planet ask the Treasury to stop printing money the middle class works there Ass off and at the end the Doctor's and Lawyer's get Paid
@bradm2687 6 ай бұрын
Your A lawyer send Back your argument after that
@philliciathegoat 6 ай бұрын
well im about 14k in cc debt and considering ACCC really dont know what to do atm
@supreemcourt9181 6 ай бұрын
The simplest video I’ve seen on this topic. Payments haven’t started yet but I’m gonna cancel it NOW!
@waltersecrest6130 6 ай бұрын
Is the trustee able to file for a garnishment of your wages if you fall behind on payments? I am caught up now, but never thought they could do that
@bankruptcybailout 6 ай бұрын
Did they do that? In my district the debtor can arrange for a voluntary wage garnishment, but the trustee cannot move for an involuntary garnishment. I don't believe the trustee can do that since wage garnishment is a state level action and bankruptcy is federal. I am not sure the bankruptcy court has sufficient jurisdiction to order an employer to garnish the wages of a chapter 13 debtor. However, I could be wrong, but have never heard of an involuntary wage garnishment for chapter 13 plan payments. Chapter 13 plan payments are, by their nature, voluntary payments of the debtor.
@WvvwvvwwVvwwvwv 6 ай бұрын
If you get sued for an old debt, show up to court and collect your $1,000.00 for wasting your time.
@bankruptcybailout 6 ай бұрын
That usually doesn't happen.
@user-gx3bl5ij3z 7 ай бұрын
not advisable to iccur new debt while in a chapter 13 by any means possible
@bankruptcybailout 6 ай бұрын
True. One really should avoid debt while in chapter 13.
@georgia2277hike 7 ай бұрын
Its been soong, i don't know who the servicer is. How do i find that out?
@bankruptcybailout 6 ай бұрын
You can try logging into studentaid . gov (that is the Dept. of Education student loan portal). Once you go through their verification process, they can provide an inventory of your federal student loans and usually be able to tell you who is the present servicer.
@RamDeva-u7e 7 ай бұрын
Hi, My friend left USA in 2020 with credit debt its been 4 years and now he want to comeback to USA and he got work visa, Is it possible to return? OR he may held at immigration office? Please provide an answer. Thanks in advance.
@bankruptcybailout 6 ай бұрын
I am not an immigration lawyer, so I don't know the answer.
@Albert-777 7 ай бұрын
How is this gonna get reported to the three major credit bureaus?if you reaffirm the lease & continue making on time payments.
@bankruptcybailout 7 ай бұрын
It is up to the leasing company. Credit reporting is not mandatory. The rules is that if a creditor chooses to report, then the information must be true and accurate. However, no law requires a company to report to the credit repoting agencies.
@Albert-777 7 ай бұрын
What are the chances of getting a 1099C form after a chapter 7 bankruptcy? is it unlikely to happen or is it going to happen?Also is a 1099c form from every creditor?
@bankruptcybailout 7 ай бұрын
It is very unlikely. We see it occasionally with mortgages when the person surrenders a house, but I haven't seen one from an unsecured creditors in years.
@Albert-777 7 ай бұрын
@@bankruptcybailout Appreciate your reply 👍🏼🙏🏼