Greetings! Here is a secured loan question I found when I was looking at Yahoo.
I have a “no asset” bankruptcy estate. I don’t own car or home. I have thousands of dollars in credit card debt and medical expenses. I have one secured item, a furniture account, all of which were sold/pawned to pay on my rising bill. I have only two things that could possibly be possessed, a bed bugged bed and and an old printer from this secured account.
My only income from the last year has been unemployment. Most of the items I own are exempt by my state
If I worked, I would love to pay off my debt. But, my employment isn’t guaranteed. Once I work I want to save and pay down student loans, which are a true priority debt.
I changed my number to avoid being harassed by creditors. I even have a cease-and-desist letters ready if I get calls at a future job. ***The final straw was having a creditor come to my house, and threaten to sue. I know they can’t enter my home without a court order from an officer. So, I am ready to put up my video camera and state my legal rights if they return.
BANKRUPTCY: Right now, I’m reading two bankruptcy / financial recovery books, and I’m preparing my paperwork for filing (24-25 documents), waiver, and credit counseling course, before I see a volunteer lawyer.
Having to care for a heart recovery mother and a mentally ill nephew, I just don’t have time to deal with the inconvenience of creditors.
I also want to be debt free (yes, I know student loans don’t count), and live a life based solely off cash savings. My credit is already bad.
I plan to take additional personal finance courses along with the required bankruptcy to secure a future of self-sufficiency.
Tell me what you think I should do?
This secured loan question was exactly what was on my mind. The answers helped with my problem. I am glad the original poster shared.
Have a wonderful day!
