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Topic: bankruptcy
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SwEeT03Gt
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Member # 10283
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posted
quote: Originally posted by MikeD.: buy a Zr1 corvette and then declared bankruptcy..
this ^^^ or a shebly gt500
Posts: 4484 | From: -NicKlE n DiMe- | Registered: Sep 2010
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hidnn.o.s.
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Member # 1219
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quote: Originally posted by stanger50: Let the Mach 1 loan go. The bank can sell the debt to collections and they can possibly garnish your wages, but I dout that. You can get another car loan now, its just your gonna need a huge down payment, co-signer and the APR % rate will be @ 24%.
Like mentioned before, dont file dude, your better of making small payments to keep the collector off your back. I worked very hard for my 799 credit score and would work 3 jobs if needed to keep it that way. Everone is in debt at some point of their lives. We will always owe money to someone. Hell, I owe $280k on my house. Thats way worse than your $14k. It sounds to me that your young and got coaght up with excessive car payments.
False
-------------------- R.I.P. Willie G. You are missed on this forum
Posts: 15950 | Registered: Apr 2002
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its50
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Member # 4069
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posted
quote: Originally posted by SwEeT 03 Gt: quote: Originally posted by MikeD.: buy a Zr1 corvette and then declared bankruptcy..
this ^^^ or a shebly gt500
do people really do that????i had a few people tell me max out everything and go get a car or motorcycle then do it .....sounded like a good idea. I could go for another stang myself [ April 03, 2012, 10:17 PM: Message edited by: its50 ]
Posts: 940 | From: 510..fremont.. | Registered: Jan 2004
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v-town coupe
fordologist
Member # 2771
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posted
quote: Originally posted by its50: quote: Originally posted by SwEeT 03 Gt: quote: Originally posted by MikeD.: buy a Zr1 corvette and then declared bankruptcy..
this ^^^ or a shebly gt500
do people really do that????i had a few people tell me max out everything and go get a car or motorcycle then do it .....sounded like a good idea. I could go for another stang myself
see thats what I'm saying, I have heard of people in the past doing that but like i said were not in the 80's and 90's anymore and with the high amount of foreclosings and higher bankruptcy fillings I remember there being some laws passed a few years ago to change a lot of that stuff.
so you really want to talk to an attorney to atleast find out what has changed recently and ask all the questions you can and take his advice with a grain of salt so to say cause you have to remember they are out to make money and if you dont file he doesnt get paid.
if it was that easy to acquire stuff and pass on the bill there would be a lot more folks doing it!
Posts: 4597 | From: the V-town | Registered: May 2003
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rwc
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Member # 8047
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whats your friends interest rate is the number one question. bet its between 17-25%. i really cant count how many cars iv picked up and i hear the r/o say " im not worried ill have a brand new car in 6 months. guess what he i come again to take it back for the bank. im assuming you had your loan with ford motor credit. make arrangements to pay them 100 bucks a month till its gone. thats what i would do. but you do have the repo on your credit report and that stays on there the same amount of time as the bk. its your choice if you have a bunch of credit cards you want to 86 with the car loan then go for it
Posts: 405 | From: redwood city ca | Registered: Nov 2007
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ISP89LX
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Member # 8949
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quote: Originally posted by hidnn.o.s.: quote: Originally posted by 92LxHatch: haha.WHAT A LOOSER
You're going to call him that, and spell like that
Haha for real's what a dipshit. If you going to talk shit check your spelling bruh!!! [ April 03, 2012, 11:25 PM: Message edited by: ISP89LX ]
-------------------- 89LX Turbo50built!!! Wait, he jacked my shit!!! "Dan will make It rite" THIEF!
Posts: 2997 | From: Nowhere to be found. | Registered: Feb 2009
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its50
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Member # 4069
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quote: Originally posted by rwc: whats your friends interest rate is the number one question. bet its between 17-25%. i really cant count how many cars iv picked up and i hear the r/o say " im not worried ill have a brand new car in 6 months. guess what he i come again to take it back for the bank. im assuming you had your loan with ford motor credit. make arrangements to pay them 100 bucks a month till its gone. thats what i would do. but you do have the repo on your credit report and that stays on there the same amount of time as the bk. its your choice if you have a bunch of credit cards you want to 86 with the car loan then go for it
not to sure he said doesnt remember it was 8i years ago and he got two cars one for him and one for the wife.he is a old fuk i work with ...
Posts: 940 | From: 510..fremont.. | Registered: Jan 2004
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its50
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Member # 4069
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Anyone know any good attornies?????
Posts: 940 | From: 510..fremont.. | Registered: Jan 2004
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phonso302
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Member # 9260
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Why not man up and pay for what you asked/signed for? 500x a month could wipe that down in a little over two years.
Bankruptcy wasn't made to bail you out after you buy something you can't afford. Its to help people facing real financial hardship.
You thinking about going out and "maxing out" credit cards and buying expensive shit shows alot about your moral character...
What if I borrowed money or got parts on credit from you and just decided to tell you to fuck off and not pay? I bet you would run on here and call me a lowlife thieving scamming dead beat piece of shit in a heart beat....
Posts: 1820 | From: PINOLE | Registered: Jun 2009
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its50
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Member # 4069
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First of all im not maxing out shit i paid all my credit cards off well the two have.second im not trying to buy anyhing else at this point in time in my life.when i said what i said it was a question if people really do that.i never delt with shit like this befor then the new stang joke came after that .i was trying to work something out with them but they were telling me i gotta give them 2300 bucks just to keep them from filing a lawsuit and keeping the courts out of it.then after i do they can accept payments from me.
Posts: 940 | From: 510..fremont.. | Registered: Jan 2004
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fam_lace
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Member # 8565
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You probably shouldn't have posted this on here cause u got dumb asses and judgmental ass people on here that rather be hella disrespect and not try and help but I know its a few different chapters that u could file just deal with an attorney u could even try calling those paralegals they could help and u don't have to deal with some of the jack ass people like above hope u get it worked out bruh good luck
-------------------- rip matt i love u cuz 351w h/c/I street car
Posts: 776 | From: dont trip | Registered: Aug 2008
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NonOpSlow2V
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Member # 6111
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Don't file for BR. Deal with it and move forward. You can pull through you'll be cool...just work it out with the loan company and try to pay it off ASAP even if that means eating top ramen for two years... Seek financial advice elsewhere bc threads tend to shy away off topic. Good luck.
-------------------- 1997 Autumn Orange GT vert 1996 Mystic Cobra 2005 95ci Harley Road King 2011 F150 Raptor
Posts: 2139 | From: San Francisco | Registered: Oct 2005
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CobramanPhil
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Member # 2170
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Filing bankruptcy is the absolute last thing you should consider...especially over just 14K. If it comes to a point where you cannot afford to eat then..okay..do it. Other than that it is always better to tough it out and get your finances in order. Get a beater for transportation and don't worry about mustangs for a while.
Posts: 1016 | From: California, Bay Area | Registered: Dec 2002
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its50
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Member # 4069
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yea thats been the way i been thinking about it from the jump street but i kept having people put that in my ear so i got a little curious about it.i havent looked into at all that why i wanted a little more feedback befor i did.i have been asking everyone i know.
Posts: 940 | From: 510..fremont.. | Registered: Jan 2004
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its50
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Member # 4069
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quote: Originally posted by phonso302: Why not man up and pay for what you asked/signed for? 500x a month could wipe that down in a little over two years.
Bankruptcy wasn't made to bail you out after you buy something you can't afford. Its to help people facing real financial hardship.
You thinking about going out and "maxing out" credit cards and buying expensive shit shows alot about your moral character...
What if I borrowed money or got parts on credit from you and just decided to tell you to fuck off and not pay? I bet you would run on here and call me a lowlife thieving scamming dead beat piece of shit in a heart beat....
i bet i wouldnt because that would be my fault for giving you some AFR 185s cause u drive the same car as me and you seemed pretty fucking cool.lol.i dont roll like that,thats not my thing.and as far as you thinking i couldnt afford it your wrong.my payment was 450 and i gave 600 every payment.the car did run and it sat for months in my parking stall.the car was gone and i didnt even know it.then i had a death in the family and i forked out some cash i had aside to take my car to AED.then my living situation change and some old old shit popped up and at that very moment my life was in a shit hole.i have been paying off someones doctor bill because i did smething i shouldnt have but had to or else i woulda been the one is the hospital.i never try to get over anyone at all.i dont give a fuck if its 2 cent i always make sure you get your shit back and nine out of ten i give a lil extra just because u had my back when needed.thanks for your input though dude
Posts: 940 | From: 510..fremont.. | Registered: Jan 2004
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AL STOCK
Its All Stock Cuzzon
Member # 1852
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quote: Originally posted by N8: I learned a lot about how credit works here. They have a BK section http://creditboards.com/forums/index.php?act=idx
I frequently browse through creditboards on a daily basis. I get most of my financial / credit related advices from the experts there.
In addition they even answered most of the questions I had related to my first home investment.
Creditboards FTMFW
I would also recommend expertlaw.com for all legal related inquiries and MyFico.com for other credit-related inquiries.
-------------------- .:: FANATICS ::.
93 Cobra Teal 93 Cobra V Red 90 SSP SVT Raptor Huracan Rosso Mars E63s W213 Selenite Gray C7Z M7 Daytona Sunrise
Posts: 6498 | From: San Bruno | Registered: Sep 2002
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AL STOCK
Its All Stock Cuzzon
Member # 1852
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posted
quote: Originally posted by stanger50: Let the Mach 1 loan go. The bank can sell the debt to collections and they can possibly garnish your wages, but I dout that. You can get another car loan now, its just your gonna need a huge down payment, co-signer and the APR % rate will be @ 24%.
I highly recommend against this, you owe them money and sooner or later it WILL come back to you if you ever think of purchasing a home.
You are young and owe $14k for a car, I say speak with the bank and work-out some sort of payment plan. I'd try my best to keep the $14K off my credit.
Speak with the bank, sometimes they are willing to work with you.
Again, i'm only giving you advice based off experience however I do recommend speaking with financial advisers or credit counselors.
-------------------- .:: FANATICS ::.
93 Cobra Teal 93 Cobra V Red 90 SSP SVT Raptor Huracan Rosso Mars E63s W213 Selenite Gray C7Z M7 Daytona Sunrise
Posts: 6498 | From: San Bruno | Registered: Sep 2002
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phonso302
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Member # 9260
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I apologize about my comment towards you, I took it as you where thinking about going out an buying shit on credit with the intention of not paying and going bk..
Posts: 1820 | From: PINOLE | Registered: Jun 2009
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hidnn.o.s.
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Member # 1219
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You're getting a lot of FALSE information on here from people who "heard" of high interest rates, not being able to purchase cars or homes ETC! There are different chapters and options, call a specialist and discuss "your options and needs," you will not be steered wrong by him or her.
-------------------- R.I.P. Willie G. You are missed on this forum
Posts: 15950 | Registered: Apr 2002
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its50
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Member # 4069
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quote: Originally posted by phonso302: I apologize about my comment towards you, I took it as you where thinking about going out an buying shit on credit with the intention of not paying and going bk..
its all good bro wasnt that serious just getting feedback from real people.
Posts: 940 | From: 510..fremont.. | Registered: Jan 2004
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