My Story - Advice needed (debt/possible bankruptcy)

[ChalkyDog]

Just walk away. Its the american way. Dont worry someone else will take care of it. This way you dont learn a lesson and can do the same thing again. Its ok, the rest of the world will pay the rate increase for you.
America....fukk yeah

Except, this is false. It will be very difficult to do it again. And if you noticed, the first part of his unsecured debt is from predatory lenders.

Predatory lending is infact the American way.

'MMMMMMerica!!!

[Cuse4tw]

My post is still ur best shot....if it fails.......U won't ******* fail pal...ur two winners away

[AraiWa]

1. Keep working the 12 steps like your depends on it.

2. Work overtime while developing skills for a better income.

3. Stay in G.A.

1) I'm pretty sure you can work the 12 steps anywhere in the world

2) Work to live, don't live to work. It's okay to attempt to make a good living while doing as little as possible. All yourself and if you have a family is a good standard of living. What's better, to be well off and never see your kids or to be comfortable and really get to know your children? Ask Lord Sugar.

3) WTF is in GA except nasty desperate housewives who shouldn't even be on TV? The world awaits you. It's a large place and there's plenty to do and see other than pissing away ten years trying to fix your fukk up. We all fukk up, we all fall in love sometimes, and we all die. Read the post from DownSouth - Spot fukking on I might say!

Just walk away. Its the american way. Dont worry someone else will take care of it. This way you dont learn a lesson and can do the same thing again. Its ok, the rest of the world will pay the rate increase for you.
America....fukk yeah

Hell yea. If bankers and Wall Street types can get away with scamming millions of people millions of dollars, $25K is a drop in the bucket! It's great to stay on the straight and narrow, never fukking up. But let's face it, once you've fukked up, all you can do is forget about it and then come back bigger, stronger and faster. Everyone loves an underdog and in another 15 or 20 years when you go back home a success, everyone will love how you got off the floor like Rocky and pounded your old life in to submission! Boo-ya

[AraiWa]

My post is still ur best shot....if it fails.......U won't ******* fail pal...ur two winners away

I gotta say, take out another loan, keep 20% in case you lose, and put the rest on a sure thing with heavy chalk, like Rafael Nadal!

[probettor1]

Sell you car and buy a big Van, one of those you can sleep in. Spend the nights in a walmart parking lot. Stop paying rent, phone, internet, cable, water and electricity. Join a Gym to take a bath and workout. You will be able to save 1500 a month to pay your debts. You might also get a second job to have for extra dough to keep betting if you feel the urge or to pay faster. In the future make sure you never bet over 10% of your income unless you are betting money you earned gambling and never bet money that you didnt earned. You dont need a ton of money to gamble, you just need to pick winners. And above all be thankful and be happy. It is just money. I wouldnt sell one of my fingers or toes for million bucks. And you still have 20 of those. Dont you?

[Goat Milk]

request a settlement. tell them you'll pay 10% of every debt. If it's written off, it'll take about 5 years before your credit is re-established.

[MoneyLineDawg]

What is stopping anyone from maxing out all the possible credit they can get and trying to sky it up gambling?? If it works you just made a shit ton of cash, and if not Fukk it, just declare bankruptcy....

It is essentially what happened here, just got bled out instead of going for one big hit......OP, before declaring bankruptcy take one last big shot with any credit you have left on a ball game pal

[Extra Innings]

25k is workable...call these companies and ask them to lower your interest rate to 2-3% and set up a payment plan. Do not hesitate to setup a consult with a BK lawyer prior to requesting a payment arrangement with these companies. I would use that as leverage.

[AraiWa]

25k is workable...call these companies and ask them to lower your interest rate to 2-3% and set up a payment plan. Do not hesitate to setup a consult with a BK lawyer prior to requesting a payment arrangement with these companies. I would use that as leverage.

Errrrrr, sorry but wouldn't this mean he'd have to be responsible?

[LVHerbie]

Good job?

How is being enough of a dumbfukk to run up 25k of cc debt, with NOTHING to show for it, a "good job".

What about the companies that get fukked over when some dumbass likes this decides they can't repay their debts?

Lots of brokedikk fukks around here.

Makes me sick.....

Sorry but as I pointed out before when companies decide to loan you money they agreed to play by rules one of which is the debtor has the option file bankruptcy... If they don't like they are under no obligation to loan money...

Personally rich fukks who choose to play games but then complain anytime the rules don't 100% work in their favor make me sick...

[PickWinnerAllDay]

Sorry but as I pointed out before when companies decide to loan you money they agreed to play by rules one of which is the debtor has the option file bankruptcy... If they don't like they are under no obligation to loan money...

Personally rich fukks who choose to play games but then complain anytime the rules don't 100% work in their favor make me sick...

Banks aren't paying it anyway, governmental bailout. So we just end up in debt as a nation.

For the people who are responsible enough to not abuse loans, it kind of sucks. But I guess no one is forcing anyone to live in this country.

[LVHerbie]

Banks aren't paying it anyway, governmental bailout. So we just end up in debt as a nation.

For the people who are responsible enough to not abuse loans, it kind of sucks. But I guess no one is forcing anyone to live in this country.

Well except in United States you still are expected to pay taxes even if you leave the country...

BTW, I never said I liked the rules just that if one decides to lend money knowing the rules they shouldn't complain when the rules are used against them...

[ChalkyDog]

Banks aren't paying it anyway, governmental bailout. So we just end up in debt as a nation.

For the people who are responsible enough to not abuse loans, it kind of sucks. But I guess no one is forcing anyone to live in this country.

Banks pass it off to the consumer, just like Wal-mart works in theft into their profit margin, and health insurance calculates payouts into their profit margins.

And I understand consumer responsibility, I quickly glanced at his post and saw the words payday loan. Those guys are nothing but scams. Predatory lending in its purest legal form. **** them. I wish they got stiffed often enough to go bankrupt themselves.

[YorkHunt]

Sell everything you own even the computer your typing on.

[ChalkyDog]

Sell everything you own even the computer your typing on.

This. But do it before bankruptcy, and keep it in cash.

[AraiWa]

Well except in United States you still are expected to pay taxes even if you leave the country...

BTW, I never said I liked the rules just that if one decides to lend money knowing the rules they shouldn't complain when the rules are used against them...

That's not actually true. A US citizen can live abroad and depending on the country, may not have to pay anything unless they make over $90K a year. If living in Thailand, you do not have to pay US taxes until you go over this amount.

[PickWinnerAllDay]

Banks pass it off to the consumer, just like Wal-mart works in theft into their profit margin, and health insurance calculates payouts into their profit margins.

And I understand consumer responsibility, I quickly glanced at his post and saw the words payday loan. Those guys are nothing but scams. Predatory lending in its purest legal form. **** them. I wish they got stiffed often enough to go bankrupt themselves.

Predatory lending when the lendee needs the money to pay for their children's braces or something and then I will have some sympathy. Even as a compulsive gambler I have no sympathy for someone falling for predatory lending to gamble. Just not justifiable.

[greenhippo]

Bankruptcy does not 'wipe away' your debt. It restructures your debt into one monthly payment instead of several. As a lawyer who handles bankruptcy put it 'bankruptcy is for people with money' you will need to hire a lawyer to handle this and set up a trustee (the guy you pay monthly instead of directly to companies you owe $ to) All of that adds up to several thousand upfront, you can't be spending that kind of money right now. To be honest and take this however you want, walk away from the debt EXCEPT the student loans. You will get endless phone calls and your credit rating will be complete shit, but it was going that way regardless. prepare yourself, if there is anything at all you need to get that requires credit, do it now. If you want to keep one CC, keep making payments on that one card. None of this has happened to me, but a close relative, remember, don't default on student loans, what you have is unsecured debt, if you go bankruptcy route your debt is now under control of the courts, at that point you have to pay.

[LVHerbie]

That's not actually true. A US citizen can live abroad and depending on the country, may not have to pay anything unless they make over $90K a year. If living in Thailand, you do not have to pay US taxes until you go over this amount.

Sorry I was aware of this but, similar to it seeming pretty silly to say people who live in the United States don't pay taxes because people who don't make much money don't pay them, I figured this would be pretty silly to point out this destination as well (especially since there are restrictions on who qualifies for this and you are still obligated to pay some taxes like self-employment tax)...

Bankruptcy does not 'wipe away' your debt. It restructures your debt into one monthly payment instead of several. As a lawyer who handles bankruptcy put it 'bankruptcy is for people with money' you will need to hire a lawyer to handle this and set up a trustee (the guy you pay monthly instead of directly to companies you owe $ to) All of that adds up to several thousand upfront, you can't be spending that kind of money right now. To be honest and take this however you want, walk away from the debt EXCEPT the student loans. You will get endless phone calls and your credit rating will be complete shit, but it was going that way regardless. prepare yourself, if there is anything at all you need to get that requires credit, do it now. If you want to keep one CC, keep making payments on that one card. None of this has happened to me, but a close relative, remember, don't default on student loans, what you have is unsecured debt, if you go bankruptcy route your debt is now under control of the courts, at that point you have to pay.

This might work for the ************ but the loan shark places will go after you for some pretty petty amounts and garnish wages (I had a relative who used those scams and had some go after her through court for a few hundred dollars)... CC companies can do the same but likely won't unless the amount is more significant and feel they have a realistic chance to collect...

[LVHerbie]

...

[hydrosmak]

Get a second job. You won't have time to piss away money because you will be too busy. Pay everything off with hard work and determination then come back with your success story.

[Trident]

What about the companies that get fukked over when some dumbass likes this decides they can't repay their debts?

These companies had no business extending him more credit other than greed, both parties are to blame here.

[probettor1]

Get a second job. You won't have time to piss away money because you will be too busy. Pay everything off with hard work and determination then come back with your success story.

This guy called himself imscrewed, just for having a 25k debt, he is a pussie. He wont do that.
You should call your self imscrewed if you have terminal cancer, you got into an accident and got paraplegic, someone eat your face or you actually get screwed by a guy lebron's size.

[PAULYPOKER]

bankruptcy, give yourself a fresh start and quit gambling pal

Too bad you don't listen to your own advice.........

[probettor1]

What is stopping anyone from maxing out all the possible credit they can get and trying to sky it up gambling?? If it works you just made a shit ton of cash, and if not Fukk it, just declare bankruptcy....

It is essentially what happened here, just got bled out instead of going for one big hit......OP, before declaring bankruptcy take one last big shot with any credit you have left on a ball game pal

What is stopping anyone from maxing out all the possible credit?
The odds. It would make sense if you are a winner, if you are a loser it would be stupid. But if you are a winner you wont need to do that.
There are a bunch of places nowdays requesting your credit record for employment. The secret to beat the casinos is to have an unlimited amount of money as per Albert Einstein. A job is not an unlimited income, but a steady income especially if it is a well paid job or bussiness.


But if I had to choose between going to bankruptsy for anything I rather do it for betting in sports. But better not go there.

[unluckysob]

you can file your on bankrupty----dont need a lawyer----office depot has do it yourself bankrupty kits----contact everyone you owe with bankrupty details---this stops phone calls, collections, everything---at first bankrupty hearing ---do not show up---they will reschedule---buys you more time---you can quit paying rent for about 3 months, unless you want to stay at present location, or roomates----this worked for me in the 90s-----my bankrupty never completed ---dismissed---bought me time----i was a self employed contractor so they could not garnish wages---i got by without bank account----after 7 years credit report free of all---start over---good luck.

[probettor1]

Too bad you don't listen to your own advice.........

[Extra Innings]

Bankruptcy does not 'wipe away' your debt. It restructures your debt into one monthly payment instead of several. As a lawyer who handles bankruptcy put it 'bankruptcy is for people with money' you will need to hire a lawyer to handle this and set up a trustee (the guy you pay monthly instead of directly to companies you owe $ to) All of that adds up to several thousand upfront, you can't be spending that kind of money right now. To be honest and take this however you want, walk away from the debt EXCEPT the student loans. You will get endless phone calls and your credit rating will be complete shit, but it was going that way regardless. prepare yourself, if there is anything at all you need to get that requires credit, do it now. If you want to keep one CC, keep making payments on that one card. None of this has happened to me, but a close relative, remember, don't default on student loans, what you have is unsecured debt, if you go bankruptcy route your debt is now under control of the courts, at that point you have to pay.

Your lawyer is full of shit. There is Chapter 13 and Chapter 7. If you make 35k and have no assets, EVERYTHING under Chapter 7 except the student loans will be discharged barring some sort of adversarial proceeding by the creditors which is unlikely unless there is fraud. Chapter 13 involves restructuring it is more ideal for those who have a good paying job, and assets but cannot keep up with their bills.

Again, at 25k this guy could knock this debt off in 3-5 years EASILY with some planning. If it was over 75k I would have a different opinion.

[konck]

Get more loans get back in there Fade Brock Mush 100%
GET SOME

[greenhippo]

Lvherbie, depends on where you live. Texas is a non-wage garnishment state. If I were to go that route unless they sue me, which is unlikely due to each individual debt being rather small, they couldn't touch my salary

[greenhippo]

Your lawyer is full of shit. There is Chapter 13 and Chapter 7. If you make 35k and have no assets, EVERYTHING under Chapter 7 except the student loans will be discharged barring some sort of adversarial proceeding by the creditors which is unlikely unless there is fraud. Chapter 13 involves restructuring it is more ideal for those who have a good paying job, and assets but cannot keep up with their bills.

Again, at 25k this guy could knock this debt off in 3-5 years EASILY with some planning. If it was over 75k I would have a different opinion.

You think he had no assets? I'm thinking he does and can't go Chapter 7 route.

[wtt0315]

file bankruptcy and stay in g.a.. you will have it on your credit for 10 years. everything is gone besides for student loans and federal taxs. If you are paying student loans right now you can file for forberences for 6 months. You can also try to work something out with all these payday loan lenders. You could just stop paying them all and work on setteling with each 1 1 at a time. They can't have you arrested because your checks are post dated and post dated checks are not consider valid checks under bad check law. It just ruin your credit. I would try this route first. Most likely if you stop paying the pay day loans they will work to settle with you. Most important thing is stay in g.a

[dmtrader]

You need to file

Don't get a new job or anything until you file and go through the process

Don't do it alone - save up enough to pay the filing fee and the lawyer's fee

after discharging your debts (to the extent you can in bankruptcy):
get a 2nd job
start to save some $
get a secured CC (like one from Orchard Bank) to start building credit back up
obviously, stop gambling

[Cuse4tw]

U better have followed my plan pal....I know ur on the cubs for 25k....good luck

[probettor1]

Get some kids to make fun of you, make a video, post it in youtube. Make sure they call you deg gambler, stupid, loser and fat for a few minutes, then cry. I hope you are fat, whatever they call you most be true. You might get up to 600k in donation.