Hi friends,

I a have too much debt(almost 14K) in my credit card and now thinking(actually decided) to file bankruptcy. Does anybody know what the process

i should follow to file bankruptcy? And how long does it gone take ?do we need a lawyer or we can do it by ourselves. Actually i am student .teskaran kanuni tarika le garna paune

job chaina..i am in texas. if we need lawyer do you know anyone who can handle this?aafai garda huncha bhane k k garne step by step bataidiye

aabhari hune thiyeee....

Thank you.

14K and Bankruptcy? You must be kiddin rite?

Do not even think that you would owe nothing after  you file bankruptcy. There are several kinds of bankruptcies and i doubt if you would even fall into the category where they would scratch off your $14K debt

Hope u r planning to go back home after bankruptcy since u won't be able to do much here in US with that in your credit report!!!
Bankruptcy is not easy and shouldn't be taken lightly. That 14K debt u incurred isn't going to go away easy.

 Which chapter of bankruptcy are you thinking to file (7 or 13)?

In chapter 7 you do not have to pay back. 

Is it all credit card related?

If it is only credit care related then you credit card company will work with you. They will setup payment options for you so that you will not have to file.

Do you really think that you wanna file bankruptcy for 14K? 

And also if your are a citizen and planning stay here, you should avoid bankruptcy and find other options.

So bascically, i cannot file bank ruptcy with 14 k..And yeah its all those credit cards. Aaaba 5 barsa pachi yeso here aafaulai ma sayad yehi nai gas station mai ghanta hani rakchu jasto lagyo.teskaran aaba nepal jane yaar...aati bhai sakyo....yehi ghante job garne bhaye kina padhya jasto lagyo....tirna ta ma tesai pani tirdina..paiso bhaye po tirnu,tehi pani tini haru lai alikati satisfaction diu na bhaner ho....thikai cha aaba namilne bhaye k garne ra haina......and thanx for the input....

 I have an american friend who filed bankruptcy for 200,000 dollars,  she has had a difficult time. She is still having trouble to get any credits after almost 5 years. However our case is different. If you truly have your heart set on going back to Nepal, then i think the best thing for you to do is change your  phone number for now. Ignore the harrassing phone calls and letters. If you can, avoid opening a new credit card account in your name. My only question i have for you is, do you own any personal collateral? such as a car, motorcycle, boat, or even a house. If you do, the debtors will have access to take your personal items to cover their debt. If you dont have these items in your name then you will be fine until you get back home. They wont bother you. All you will be a tax right off for your debtors. If you are thinking to come back here then you will have hard time to get any credit. If you can get in touch with bankruptcy lawers with free consult then they can advise you whether or not you should file bankruptcy with your status. And also your record will be with them making impossible for you to get any future credit.

My suggestions- try to cut your expenses, car/ cell phones/ alcohol/party/room/apt etc..move/transfer to that place where you have public transit ( downtown area). Try to think alternative way how you can make money- coordinate with friends and community.  If you are graduated, spend at lease two three hours look for new job. You never know. Try live simple life. 14 K, once you get job won't be big problem. May just be matter of 5 or 6 month, provided you continue to live simple life even after you get job. If you are undergraduate, go for master study where you get graduate assistantship, south dakota, nebraska etc...or if you are already master, PhD would not be bad idea. Think positive and move forward. Be discipline.



Best of luck

,lately you only get ridiculed in sajha and all wannabes lawyers will google and paste what you should not do, they try to make it look like it's coming out from an expert too by using some common terms in the related field. I am not an expert on this matter, but  I am sure there are ways to work on the debt if it's not student loan by govt, or child support etc. credit card loans are unsecured loans and treated as open account which is limited by the statue of limitation in the given state. I had an American friend who used to be a recuriter for an IT company but now works at a call center and he filed a BK for 147 thou in credit cards and other debts. he came smiling to work and after few months he was even able to get credit cards. yes, credit card companies think you are less of a risk after say a year of filing bk and being responsible. its cuz they know you won't be able to file another bk for another 10 years.
i am sure there are ways. don't listen to some people who wait all day in sajha forum to discourage people on their information quest.

and people who tell you your future is doomed if you don't pay credit card bills or file bk in this country are some dangerous wannabes who must be in their first few years in the USA and reciting what they heard from their IPO or some neta types of seniors in their university. i know lots of Americans and Nepalis who have field bk or waited 7 + more years to repair their credit and they own businesses. BK is there to protect and bail out honest people who just can't make it. Don't feel bad to use it, these Banks get bailed out all the time from the tax they take out of you pay check every week.

Cincinnati and Dayton Bankruptcy Attorneys

Despite what you may have heard in the media, bankruptcy is not the end. It is a new beginning. It is not criminal and is not published in the newspaper. If you are worried about bankruptcy having a negative impact on your life, you may be surprised that you have very little to worry about.

Most people find that their credit scores rebound surprisingly fast after filing bankruptcy and that they are able to get credit much sooner than expected. In fact, we have seen that many lenders, including vehicle and home lenders, are more likely to give a loanafter a bankruptcy is filed because the borrower's overwhelming debts have been eliminated, making it more feasible to pay on a new loan.



source: http://www.haroldjarnickiandassociates.com/Bankruptcy/Life-After-Bankruptcy.shtml



buy sprint phone they don't check credit on certain plans, buy cars on cash, it's better that way cuz you won't spend what yo don't have. get married make your wife's credit good and use that to buy a condo or apt. by then your credit will be good too..

source: http://articles.moneycentral.msn.com/Banking/BankruptcyGuide/BounceBackFastAfterBankruptcy.aspx



Carefully rebuild your credit, and you could qualify for almost normal rates, even a mortgage, in a year or two. Here's what you need to do.

 

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By Liz Pulliam Weston

Almost anyone can get credit soon after a bankruptcy. It's just a matter of knowing how.

It's true that bankruptcy deals a devastating blow to your credit and your credit score, the three-digit number lenders use to gauge your creditworthiness. But the effects don't have to be lasting.

Long before the bankruptcy drops off your credit report, you could be qualifying for loans with good rates and terms.

Nothing is forever

Ken from Chicago filed Chapter 7 liquidation after unemployment and overspending caused him to rack up more than $20,000 in credit card and other unsecured debt. Four years later, his credit scores ranged from 655 to 719, decent numbers that are just below the cutoff to get most lenders' very best rates.

 

"I . . . applied for a secured credit card (usually reserved for people with troubled credit) and was informed that I qualified for an unsecured card -- a possibility I hadn't even considered," Ken said. "While I am going to be very careful with my new credit (card), I am heartened that creditors consider me an acceptable risk."

More from MSN Money

• Why going broke is a fact of life


• A survival guide for the uninsured


• Ouch! Your house payment just doubled


• Facing foreclosure? 9 options


• How not to pay your bills

If you're recently bankrupted, here are two things you need to keep in mind:

 

• Nothing in credit is "forever." A bankruptcy legally can remain on your credit report for up to 10 years, but its effect on your credit score can start to diminish the day your case is closed -- if you adopt responsible credit habits such as paying your bills on time, using only a small portion of your available credit and not applying for too much credit at once.


• You have to get and use credit to build your credit score. Living on a cash-only basis may be a smart choice for those who really can't handle credit. But if you want to rebuild your credit score, you can't sit on the sidelines.

  Thank you all for your input.

these sajha [Disallowed String for - bad word]ers will never give you the right answer..just file for it ...look it up ..google it or whatever...you will be fine..no one is going to knock your door..after 3 years..just contact some bankruptcy lawyers. and they will tell you wat to do..forget about going home and coming back...jsut do it and you will be fine here..

 DO NOT FILE FOR BANKRUPTCY FOR $14K. Absolutely bad idea because your credit goes to crap for at LEAST 14 years.



You should really talk to the credit card company, or a trusted bank to consolidate your credit card debt and then pay it off.



E.g. www.usbank.com/cgi_w/cfm/personal/products_and_services/debt_consolidation.cfm

So Unknown guy, I assume only u know the right answer? I wish Rachhyas could sue you after he files bankruptcy then you would think twice before suggesting a bankruptcy.
Rachhyas, don't just go by those google ads, there might be some credit counseling agencies who might look non-profit but funded by credit card companies. You could get in deeper hole. Search for a legit credit counseling service then enroll. I hope things work out for you. Don't give up yet, even people who work in gas station have done well later, buying their own gas stations. Maybe you can negotiate with your creditors for a lower rate. But if you have decided to go back home then that still isn't a bad decision.

 "But if you have decided to go back home then that still isn't a bad decision."



That's what i thought too stiffler. Filing for bankruptcy, or debt consolidation or staying here or anything else means more struggle without knowing anything in future. Who knows i might be in the same gas station after five years. it not like that i didn't try, i tried every other thing that i can, u know, still trying but its not working. if Something is not working it won't work on future too and  we have to leave that .Isn't that right? may be i am coward running from here or may be a just a guy who don't see any future here in USA.  I don't know wht the future will be back home, what i know is i can try without any restrictions.So i made up mind now..

Its not a bad idea to go back Nepal but it's brave decision. You gotta do what you have to do bro. I hope you make right decision which will make you feel good at that time you look back to this decision from future.
Best of luck for your better future.

Rakshas bro,
 filing for bankrupty is totally different that being depressed about future of yours in this country.
 if you want to file, just file..and dont listen to others. You could start repairing your credit image after three years. By law every record gets wiped out after seven years.
 think about it. If you want to succed in USA it will take you couple of years...at least you can save movey which you were ought to pay the credit companies . After few years you will have money you saved and probably a career to begin with. It takes time in USA bro...nothing is overnight!!!
   other thing..i am not sure how bad your credit situation is. If you have already tried consolidating and didnt work out then bankrupty migh be your option. But if its just that your stopped making payments and havent contacted third party agencies...then your should try to work out some sort of plans...
 cheers and  good luck

 Thank you for the support guys. just few more stupid questions: if i go back to nepal without paying anything(credit card, phone bills) is it gone affect me by any means in Nepal. Over here, whatever happens, i wont' worry about anything coz i don't have any intention to come back.

I heard that if we write a cheque which would bounce, that would be an offense and that's why i m asking this question? Is that applies to credit card and phone bills too? will they gone mark it as credit card fraud or something like that for not paying the credit card? and also what about the fee that is due on my college?

Thank you....