A little background here.. I am trying to get myself out of a terrible financial situation. I was 22 when my husband and I bouught our first home (which is upside down) and started accumulating debt. I live in Las Vegas where the real estate market has plummeted. My husband and I are separated, and have about 45 thousand in debt bewteen the both of us. We keep tinkering back and forth between doing a bankruptcy or just paying our bills off.I have gotten setlements on 3 of my accounts, so that would bring me to 000 in debt approximately, the also offered to do a loan modification, POSSIBLY approved after a six month forebearance on our home. Bringing our payment from 00 a month to about 00. But we wont know for 4 months if that is even approved and it could go either way. I am in the reserves and trying to go on a deployment for 7-9 months that would be about 000 tax free before the end of the year. If I do a Chapter 7, I believe the majority, if not all, of that money is protected. I could save it, and use about 1/2 of that to buy an investiment home, but I won’t be able to buy one until after statue of limitations which is 2 years minimum?? If I don’t do a bankruptcy then I plan to pay off the settlement accounts first, while paying the others off consecutively (monthly) to reestablish history.after 6 months to 1 year of rebuilding my history then I want to buy an investment home. I am now 25, and I know now basic necessities to be secure. Such as 3-6 months emergency fund, as 0- minimum amount of debt as possible, and securities to help me survive or profit from the recession, my choice is real estate since I’ve studied it, I enjoy it, and I believe firmly I know how to make money in it. And I don’t know much about any other market, such as the stock market, orinvesting.Please help. We have been riding the fence for about 7 months, wasting time because our minds keep changing. We are separated but which ever way we decide to go with this we plan to help each other. I want to build my wealth, become secure, and have long term investments. I want to start up a business (home staging) within the next 3 years also.

Technorati Tags: 4 months, 7 months, 9 months, bankruptcy, basic necessities, chapter 7, deployment, emergency fund, financial situation, forebearance, how to make money, las vegas, loan modification, real estate market, recession, riding the fence, statue of limitations, stock market, wasting time

I own outright a deeded (fully paid for) timeshare in Reno Nevada. I am out of work, delinquent in my maintenance fees and about to be sent to collection. The company won’t take it back. It’s impossible to sell and difficult if not impossible to even donate. I don’t have the money as they charge several hundred to do either.

Would it be advisable to let it go to foreclosure. would that even happen? I have just filed bankruptcy and don’t care about my credit score.

Technorati Tags: bankruptcy, credit score, delinquent, foreclosure, maintenance fees, money, reno nevada, timeshare

A little background here.. I am trying to get myself out of a terrible financial situation. I was 22 when my husband and I bouught our first home (which is upside down) and started accumulating debt. I live in Las Vegas where the real estate market has plummeted. My husband and I are separated, and have about 45 thousand in debt bewteen the both of us. We keep tinkering back and forth between doing a bankruptcy or just paying our bills off.I have gotten setlements on 3 of my accounts, so that would bring me to 000 in debt approximately, the also offered to do a loan modification, POSSIBLY approved after a six month forebearance on our home. Bringing our payment from 00 a month to about 00. But we wont know for 4 months if that is even approved and it could go either way. I am in the reserves and trying to go on a deployment for 7-9 months that would be about 000 tax free before the end of the year. If I do a Chapter 7, I believe the majority, if not all, of that money is protected. I could save it, and use about 1/2 of that to buy an investiment home, but I won’t be able to buy one until after statue of limitations which is 2 years minimum?? If I don’t do a bankruptcy then I plan to pay off the settlement accounts first, while paying the others off consecutively (monthly) to reestablish history.after 6 months to 1 year of rebuilding my history then I want to buy an investment home. I am now 25, and I know now basic necessities to be secure. Such as 3-6 months emergency fund, as 0- minimum amount of debt as possible, and securities to help me survive or profit from the recession, my choice is real estate since I’ve studied it, I enjoy it, and I believe firmly I know how to make money in it. And I don’t know much about any other market, such as the stock market, orinvesting.Please help. We have been riding the fence for about 7 months, wasting time because our minds keep changing. We are separated but which ever way we decide to go with this we plan to help each other. I want to build my wealth, become secure, and have long term investments. I want to start up a business (home staging) within the next 3 years also.

Technorati Tags: 4 months, 7 months, 9 months, bankruptcy, basic necessities, chapter 7, deployment, emergency fund, financial situation, forebearance, how to make money, las vegas, loan modification, real estate market, recession, riding the fence, statue of limitations, stock market, wasting time

A little background here.. I am trying to get myself out of a terrible financial situation. I was 22 when my husband and I bouught our first home (which is upside down) and started accumulating debt. I live in Las Vegas where the real estate market has plummeted. My husband and I are separated, and have about 45 thousand in debt bewteen the both of us. We keep tinkering back and forth between doing a bankruptcy or just paying our bills off.I have gotten setlements on 3 of my accounts, so that would bring me to 000 in debt approximately, the also offered to do a loan modification, POSSIBLY approved after a six month forebearance on our home. Bringing our payment from 00 a month to about 00. But we wont know for 4 months if that is even approved and it could go either way. I am in the reserves and trying to go on a deployment for 7-9 months that would be about 000 tax free before the end of the year. If I do a Chapter 7, I believe the majority, if not all, of that money is protected. I could save it, and use about 1/2 of that to buy an investiment home, but I won’t be able to buy one until after statue of limitations which is 2 years minimum?? If I don’t do a bankruptcy then I plan to pay off the settlement accounts first, while paying the others off consecutively (monthly) to reestablish history.after 6 months to 1 year of rebuilding my history then I want to buy an investment home. I am now 25, and I know now basic necessities to be secure. Such as 3-6 months emergency fund, as 0- minimum amount of debt as possible, and securities to help me survive or profit from the recession, my choice is real estate since I’ve studied it, I enjoy it, and I believe firmly I know how to make money in it. And I don’t know much about any other market, such as the stock market, orinvesting.Please help. We have been riding the fence for about 7 months, wasting time because our minds keep changing. We are separated but which ever way we decide to go with this we plan to help each other. I want to build my wealth, become secure, and have long term investments. I want to start up a business (home staging) within the next 3 years also.

Technorati Tags: 4 months, 7 months, 9 months, bankruptcy, basic necessities, chapter 7, deployment, emergency fund, financial situation, forebearance, how to make money, las vegas, loan modification, real estate market, recession, riding the fence, statue of limitations, stock market, wasting time

Upside down on Vegas House by 0,000 . I am considering walking as I don’t want to pay this high mortgage for a house that isnt worth it! also want to leave Vegas. Thinking of missing payments and going into Foreclosure- someone told me that I would still owe the outstanding debt on the home and it would come to me as earned income and be taxed??
paid 0,000 put ,000 down and owe 0,000 today– its worth 0,000…. does Bankruptcy make it where they cant put the difference on you as taxable income?
this is a house in a great area of vegas

Technorati Tags: bankruptcy, foreclosure, mortgage, taxable income

My husband lost his job in October and I am a student, so we have no money coming in except for a pittance from unemployment. We had some savings and he cashed in his retirement, but we are almost out of money. We put our condo on the market in December, but so far no takers. My husband has relatives in Las Vegas who have invited us to live with them temporarily, so my husband went after Christmas and began the job-hunt. We are now considering foreclosure and/or bankruptcy, but neither of us know much about either process. Can anyone either explain these processes to me, (in English – not Legalese), or direct me to a website that I can understand? I need to know everything, such as: Do I have to file in California or can we do this in Nevada? Do we contact the lender about foreclosure or is this something they do automatically? (They have been completely unwilling to work with us even though we have never been late on a payment.) Any advice/info would be greatly appreciated.

Technorati Tags: advice info, bankruptcy, christmas, foreclosure, job, las vegas, money, pittance, relatives, retirement, unemployment

I live in Nevada and filed for bankruptcy 12/3/08 due to a business failure in the trucking business. My house went into foreclosure in November and I know when you file for bankruptcy it starts the foreclosure process over. Has anyone else gone through this and how long did you have until you had to move out of your house? My attorney says to plan on being out my March.
Thank you for any answers or advice.

Technorati Tags: bankruptcy, business failure, foreclosure, trucking business

My principal residence is in CA, but I have a residential rental property in Vegas, NV that will probably go into foreclosure.

Will I be forced into bankruptcy?

Technorati Tags: bankruptcy, foreclosure, principal residence, residential rental property, vegas nv

I am in Las Vegas, Nevada (so all u car salemen know!) and I haven’t paid for my car in a couple a months. I am sure it is up 4 repo. The company hasn’t contacted me about it yet but I know. I want to trade it in a get another car. I just started working again! Yay! Finally!
How do trade ins work?
How can I save my credit from a repo besides paying it off myself, because I can’t and I don’t want 2 declare bankruptcy?
How bad will a repo affect my credit for future purchases of a car and house? I am looking to pay the repo balance after sale, but if it keeps my credit jacked what is the point? What can I do that saves my credit and gets me into a better car. The car that will be up 4 repo is a 2005 Pt Cruiser ~79,000 miles on it. Will a trade just add more money onto the other car 2 be purchased?

Technorati Tags: bankruptcy, ins, las vegas, money, pt cruiser, vegas nevada

Should I let the house go into foreclosure or should I do a bankruptcy? I don’t want to owe the IRS. Please help me!

Technorati Tags: bankruptcy, foreclosure, irs