| Subject | Date Asked | Expert |
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| judgement vs bankruptcy | 10/14/2008 | David |
Q: I need help...I have 5 credit cards and I owe appx 63K between all of them. I have perfect credit ...
A: Ok. It seems that you are correct in that it would be difficult for the CC to collect, but they can ...
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| Judgement on my Credit. | 10/13/2008 | David |
Q: I have a judgement on my credit for $1300 dollars, they said that they sent me two letters to notify ...
A: Andra, They are supposed to notify you, but proving that they did not is close to impossible. And ...
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| Bankruptcy? | 10/13/2008 | Michael Brotherton |
Q: I am in need of some advice on bankruptcy. Last month I had to have surgery which ended up costing ...
A: One thing about debt collectors, they cannot collect what you do not have. If you are unemployed ...
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| please advise me | 10/12/2008 | Michael Brotherton |
Q: my question is i have over 10 past due credit cards account which total over 35,000 that have been ...
A: You can relax for starters. If you have no income from wages and no assets the creditors cannot ...
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| credit score | 10/11/2008 | David |
Q: What is an excessive amount of credit inquiries to have in a given amount of time and how much does ...
A: The average American has 1 per year. Keep in mind that includes seniors and children. I usually ...
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| Garnishment of credit union SS deposits | 10/11/2008 | Michael Brotherton |
Q: Can a credit card company freeze my SS deposits in my credit union in the event of credit card ...
A: They cannot legally seize the account but if they are not aware that the funds in the account are ...
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| Discharge of debt under | 10/7/2008 | Michael Brotherton |
Q: I recently received a letter that my former landlord is filing Chapter 7 Bankruptcy. In mid-July, a ...
A: If you are referring to this particular instance I do not believe it applies. I believe it refers to ...
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| credit score | 10/6/2008 | David |
Q: I have heard so much conflicting info on credit scores & credit rating. I actually have 2 ??'s. How ...
A: Brian. The best place to get your score is www.myfico.com/12 They generate the fico score that ...
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| cc debt | 10/4/2008 | Michael Brotherton |
Q: i have 4 cc's maxed out, some at set interest but 1 with largest balance $35k at 0% for a few more ...
A: One option you may have is to contact them and ask for the hardship or credit counseling dept. and ...
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| credit report | 10/4/2008 | David |
Q: I have been trying to keep track of my credit scores so i can better myself and my credit..I am ...
A: Once an account goes derogatory it stays there for 7 years or longer. It is possible to fix or ...
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| Discharge of debt under "debts for willful and malicious injuries to person or property" | 10/3/2008 | Michael Brotherton |
Q: I recently received a letter that my former landlord is filing Chapter 7 Bankruptcy. In mid-July, a ...
A: You may object to the discharge of the debt but it is up to the bankruptcy courts to decide. If you ...
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| Credit Protection in Legal Separation | 10/2/2008 | Michael Brotherton |
Q: I am currently seeking a Legal separation due to husband of 31 years bad financial situation. Will ...
A: A legal separation may protect you from future debts but will not protect you from any existing debt ...
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| 24K in cc debt how do I manage this? | 10/2/2008 | Michael Brotherton |
Q: I am very anxious to see how I can take a hold on this. I have 24K in cc debt accumulated through ...
A: You might look into a debt management program through a non profit debt counseling agency. Most ...
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| Chapter 7 and keeping our home? | 10/2/2008 | Michael Brotherton |
Q: We are considering filing a Chapter 7, but still keeping the home. Our lenders are currently trying ...
A: I would wait to file until after they modify the loan. Make sure it is a true modification though. ...
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| bankrupcy | 10/2/2008 | Michael Brotherton |
Q: I wrote before, but I forgot to put some information. I'll start over. We bought 3 properties when ...
A: I know what you are saying. I hear it all the time. I know how the lenders are but sometimes it ...
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| bankruptcy | 10/1/2008 | Michael Brotherton |
Q: i have about $84000 in credit card debt in my name only, i am current and trying to stay that way, ...
A: I do not believe you would qualify for a chapter 7 bankruptcy because of the amount of equity you ...
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| co-signer | 10/1/2008 | David |
Q: I was a co-signer w/ my boyfriend. We went to deposit the money for the payment at the bank. the ...
A: TY, I can explain the dispute process to you. That is your only chance of getting the judgement ...
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| One spouse filing bankruptcy | 10/1/2008 | Michael Brotherton |
Q: We are both 50ish, married 2 years. I had wrecked my credit by late payments but no bankruptcy. ...
A: This depends on whether she includes any of your debts in the plan. If she includes joint marital ...
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| Bankruptcy and Foreclosure | 9/30/2008 | David |
Q: Due to a business failure I am forced to file chapter 7 bankruptcy. It is also possible that I will ...
A: Jim, The good news is that recovery from the Bk is completely possible. You can have a 700+ credit ...
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| foreclosure and bankruptcy | 9/30/2008 | Michael Brotherton |
Q: we got into real estate at the wrong time, now have 3 rental houses that we can't sell other than to ...
A: Whoever told you they could not fix your rate is not being truthful or has no clue what they are ...
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| credit fraud | 9/29/2008 | Michael Brotherton |
Q: My husband and I have been married for 8 years but recently seperated. For years I have used a ...
A: It is not likely they would pursue prosecution. You were an authorized user and until he notifies ...
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| old bad debt | 9/27/2008 | Michael Brotherton |
Q: I have two old credit card debts that I have had no contact with since 1995. These debts fell off my ...
A: I need to know what state you are in. Each state has a statute of limitations for collecting debt. ...
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| Bankruptcy | 9/26/2008 | Michael Brotherton |
Q: My husband leased a truck with an ex-fiance in 2001 and when they split he took the truck willing to ...
A: I would think that the mail would have been forwarded if he put in a change of address. It may be an ...
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| Foreclosure vs. Bankruptcy | 9/26/2008 | Michael Brotherton |
Q: I am upside down on my house which i do not live in since I'm in the military. I do not wish to ...
A: God bless you for your service. It will not go unrewarded. One of the best options would be to list ...
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| wife filed bankrupcy | 9/26/2008 | Ontrack Financial Group LLC |
Q: My wife and I have been divorced for about a year now. We had a combined loan with our two vehicles. ...
A: Tony, Tell the bank to take a hike. You're not on the title, and the divorce was finalized prior ...
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| foreclosure and bankruptcy | 9/25/2008 | Michael Brotherton |
Q: we got into real estate at the wrong time, now have 3 rental houses that we can't sell other than to ...
A: If you have equity in your home you may not be able to file bk 7. The house that goes through ...
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| Bankruptcy | 9/22/2008 | Michael Brotherton |
Q: My husband leased a truck with an ex-fiance in 2001 and when they split he took the truck willing to ...
A: BY law they are supposed to give written notice to all signers of the date of sale or auction and ...
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| Impact on credit score of a single collections | 9/22/2008 | David |
Q: I have an very high credit score (over 750) and have never had any "black marks" on my credit that ...
A: I am a credit repair professional, and you are mostly correct. Your score will be affected by the ...
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| bankrupcie | 9/20/2008 | Michael Brotherton |
Q: If ur car was repo and u file bankrupcie chapter 13 will u get it back
A: It depends on how long it has been since they repossessed the vehicle but I would say probably so if ...
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| statue of limitations | 9/19/2008 | David |
Q: I live in Ohio, have charge offs on my credit report - dealing with credit cards...every place I ...
A: Ohio Civil Statutes of Limitations In Ohio, a claim must be brought to court in a law suit no later ...
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| just got a summns for credit card | 9/19/2008 | Michael Brotherton |
Q: im currently unemployed and have been since the beginning of march 08'... I just got a summons for a ...
A: If you have no income or assets the worst that can happen at this time is for the creditor to obtain ...
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| charge-offs | 9/19/2008 | Michael Brotherton |
Q: I have 4 charge-offs on my credit report. One creditor sued me, we settled and the complaint was ...
A: Although there is no way to accurately predict whether a creditor will sue you it is most likely ...
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| OUT OF OPTION | 9/19/2008 | Michael Brotherton |
Q: I have been disputed my credit report since 4/2008 and feel I am getting no where with Experian and ...
A: In order to give any advice in this matter I would need more information concerning the type of ...
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| 18k american express debt I cant pay | 9/19/2008 | Ontrack Financial Group LLC |
Q: How do I handle my American express acct with a 18k balance. It is with a collection agency now. I ...
A: Aubrey, 1. If you haven't made a payment since April, the account may already be charged off. ...
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| Truck Repo | 9/18/2008 | David |
Q: I bought a truck for my grandson who is not going to make the payments anymore. I collect Social ...
A: Linda, I am sorry to hear of your dilemma. You have good reason to be concerned. If the truck is ...
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| Summoned and making first payment at the same time | 9/18/2008 | Michael Brotherton |
Q: I received a letter a few weeks ago stating that if I didnt make any arrangements this debt would go ...
A: Yes, Make sure youtake the program paperwork to court with you. As far as the dmp counselor goes, ...
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| credit card after bankruptcy | 9/18/2008 | David |
Q: My husband and I filed Chapter 11 bankruptcy and it was discharged March 2006. Since then we have ...
A: Tawnya, Getting a major credit card from a reputable lender is not easy when you have a BK on your ...
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| Summoned and making first payment at the same time | 9/17/2008 | Michael Brotherton |
Q: I received a letter a few weeks ago stating that if I didnt make any arrangements this debt would go ...
A: There may be a problem with your debt management program including this account in the debt ...
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| debt & statue of limitations | 9/15/2008 | Michael Brotherton |
Q: i had a couple credit card chargeoffs in 2001 i am a oklahoma resident @ tht time i was a student, i ...
A: If you never responded to a summons they probably got a default judgment against you. This account ...
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| Owner carry | 9/13/2008 | Ontrack Financial Group LLC |
Q: What exactlly is owner carry? Is there hope for people with not so good credit to purchase a house?
A: Mona, Owner carry ='s lease to purchase Because of the subprime debocale it's going to be near ...
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