Poor Family Support Tribe- NO DEBATE - Page 42

[Potty Diva]

Credit cards often do "write offs" and consider the debt non-collectible.

[Satori]

Originally Posted by Potty Diva

Credit cards often do "write offs" and consider the debt non-collectible.

yep and its usually done in about 6 months from the time of last payment and it really wrecks your credit and its rarely removed. Some people don't even bother paying once its written off because if the status is changed it usually says "paid after charge off" which makes no difference in improving your new score. Depending on how long its been your best bet is actually to walk away from the debt to let the clock start and get the aging process going.

[Ruthla]

Originally Posted by Potty Diva

Credit cards often do "write offs" and consider the debt non-collectible.

Originally Posted by Satori

yep and its usually done in about 6 months from the time of last payment and it really wrecks your credit and its rarely removed. Some people don't even bother paying once its written off because if the status is changed it usually says "paid after charge off" which makes no difference in improving your new score. Depending on how long its been your best bet is actually to walk away from the debt to let the clock start and get the aging process going.

Is that any worse for my credit than bankrupcy?

[Satori]

Originally Posted by Ruthla

Is that any worse for my credit than bankrupcy?

Supposedly no but I had several write offs a few years ago and despite not having anything bad go on my report in a few years the people who had filed BK 1-2 years before managed to have better scores then I did! Even after I cleaned up my credit and got everything off my reports and only had positive stuff showing they STILL had better scores, go figure.

[2Sweeties1Angel]

I'm on the fence about filing for bankruptcy. My van was repo'd in early January and they're saying I owe $12,000 on that. I'm sorry (not really), but I wouldn't shell out $12,000 for something I no longer have even if I did have the money. I tried working with those people after DH and I were both laid off last fall, but they didn't care--they just wanted their money no matter what. We also have about $10,000+ in credit card debt from when I was younger and unmedicated. Unmedicated bipolar=massive shopping sprees. Nothing has been paid on in over 6 months. DH works FT, but he only makes $7/hour because that's the only job he's been able to find. I want to get a job, but not if my wages are going to be garnished. What's the point in working if I'm not going to bring anything home, KWIM?

This is so frustrating. Even more frustrating is that I have to pay to file for bankruptcy and I can't really afford to. I have a little bit of money (around $1000) stashed away for it, but I don't want to give it up because I'm afraid something will happen and we'll really need that money. AAARRRH! I'm afraid to file pro se because we have a mobile home that we want to keep and I don't want to screw up and lose it because then we'd have to rent and that would cost more money each month.

[sonrisaa29]

Originally Posted by 2Sweeties1Angel

I'm on the fence about filing for bankruptcy. My van was repo'd in early January and they're saying I owe $12,000 on that. I'm sorry (not really), but I wouldn't shell out $12,000 for something I no longer have even if I did have the money. I tried working with those people after DH and I were both laid off last fall, but they didn't care--they just wanted their money no matter what. We also have about $10,000+ in credit card debt from when I was younger and unmedicated. Unmedicated bipolar=massive shopping sprees. Nothing has been paid on in over 6 months. DH works FT, but he only makes $7/hour because that's the only job he's been able to find. I want to get a job, but not if my wages are going to be garnished. What's the point in working if I'm not going to bring anything home, KWIM?

This is so frustrating. Even more frustrating is that I have to pay to file for bankruptcy and I can't really afford to. I have a little bit of money (around $1000) stashed away for it, but I don't want to give it up because I'm afraid something will happen and we'll really need that money. AAARRRH! I'm afraid to file pro se because we have a mobile home that we want to keep and I don't want to screw up and lose it because then we'd have to rent and that would cost more money each month.

Just know that under the new bankruptcy laws I believe that you are required to go through credit counseling and I believe a financial management session before you debt is allowed to be "wiped" out. I thought with bankruptcy though you are allowed to keep your home up to a certain value?

[Gendenwitha]

Originally Posted by Ruthla

My parents can't help me. I have no way to pay an $8,000 debt. I have no clue what I'm going to do.

And to top it off, my parents started yelling at me, telling me "You can't homeschool DS" as if that had ANYTHING to do with my money problems!!! Yeah, it's related in that I really can't pay tuition, but WTF would public school be my only option here and what does that have to do with the fact that I'm now completely screwed?

Wondering what your plan is for if your disability gets denied. That's very relevant both to homeschooling and to debt collection. As long as "F" is still pretending to agree to pay, try explaining to the school the situation and asking the school if you can add her name to the contract. Then presuming she's willing, add her to it. Then they'd have someone with garnishable wages to go after and you wouldn't have to take her to court.

If that doesn't work, explain the situation to the school and ask if they'll write it off as a charge-off. This will help you in that it won't get sold and re-sold and stay on your credit report, and helps them in that they can write it off as bad debt on their taxes. (Make sure you're talking to someone who understands that, people in billing may not, but their accountant will.)

I'm a little confused though as to how this situation came about. Was she to pay each year or just this first year? What kind of relationship do you have with this person that she just up and offers to pay $8k a year in tuition?

[UberMama]

Ruthla started a June thread for this group here.

[Satori]

Originally Posted by Gendenwitha

Wondering what your plan is for if your disability gets denied. That's very relevant both to homeschooling and to debt collection. As long as "F" is still pretending to agree to pay, try explaining to the school the situation and asking the school if you can add her name to the contract. Then presuming she's willing, add her to it. Then they'd have someone with garnishable wages to go after and you wouldn't have to take her to court.

If that doesn't work, explain the situation to the school and ask if they'll write it off as a charge-off. This will help you in that it won't get sold and re-sold and stay on your credit report, and helps them in that they can write it off as bad debt on their taxes. (Make sure you're talking to someone who understands that, people in billing may not, but their accountant will.)

I'm a little confused though as to how this situation came about. Was she to pay each year or just this first year? What kind of relationship do you have with this person that she just up and offers to pay $8k a year in tuition?

Little harsh don't ya think? Also they do keep trying to collect charge offs, the law says they have to charge it off after x amount of time but then they just resell it to a collection agency who then bugs you for years. You can make them go away until they sell it to someone else then you have to go a C&D all over again to make them go away too.

[Potty Diva]

I PASSED THE PRAXIS!!!!!!!

I made a combined score of 532 and I needed 522.


OH HELL YA!!!!

[thismama]

Congrats PD!!!!!

eta - Oops I see there is a new June thread. Moving my post over there!

[UmmIbrahim]

Oh man...I belong here!!!

Dh & I are both Uni students and this summer things are *really* tight...well..things are always tight but esp this summer.

We applied for FS and I get WIC...getting them has been a MAJOR blessing in disguise becos we'll also Since we don't eat very much in general the btw the FS and WIC we'll have ample food AND for once be able to afford healthier stuff...so hopefully we can get a bit healthier (we're already pretty healthy...but for a long time had to buy cheaper, less quality food becos we couldnt afford better stuff)
Seriously we feel like we can finally breath becos we were looking at how much dh is making this summer as a TA, our cost of living...man... :

Seriously...Im sooo thankful these programs exist!!!!

Umm Ibi