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  • Debtor

    Enviado por

    Nicole Norfleet
    21 visualizações2 páginas
    "Debtor’s decision” - St. Pete Times; July 12, 2009

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    "Debtor’s decision” - St. Pete Times; July 12, 2009

    Direitos autorais:

    Attribution Non-Commercial (BY-NC)
    Baixe no formato PDF ou leia online no Scribd
    Sinalizar o conteúdo como inadequado
    21 visualizações2 páginas

    Debtor

    Enviado por

    Nicole Norfleet
    "Debtor’s decision” - St. Pete Times; July 12, 2009

    Direitos autorais:

    Attribution Non-Commercial (BY-NC)
    Baixe no formato PDF ou leia online no Scribd
    Sinalizar o conteúdo como inadequado
    de 2
    Debtor's decision BYNICOLENORFLEET | Times Staff Writer ment or two over the years and used the credit cards to splurge litle during the holiday season. But who hasn't? $ Now, you've lost your job ‘or incurred unexpected medical bills. Maybe you ran up some gambling debts or recently got divorced. You're dodging calls from creditors, worrying that the electricity could be cut off any minute and wondering; how you're ever going to pay offal the debt. You're not alone. More than 12,000 nonbusiness bankruptcies were filed in the US, Bankruptey Court for the Middle District of Florida in the first quarter of the year. Staring at the possibility of bankruptcy can be depressing and stressful, But bankruptcy can wipe away some debt, buy you time to pay off remaining bills, and in some cases keep you in your home. On the other hand, it will also trash your credit rating and can force you to relinquish some valuable property: ‘So what to do? We've created four financial scenarios and had bankruptcy experts weigh in. Keep in mind that everyones case is different. There are few absolutes about when you should file for bankruptcy. Consulta debt counselor about your specific case. Y ‘ou never thought that this could happen. ‘{ You've had a job since high school. You clip coupons when you can. Yeah, you missed a bil pay young, single rent¢Y = Recently divorced mother : REASONING: There’ not much that what the car sells for at auction. It ‘REAsOmInG: Ifthe credit cards a her house payments she villevent- that person can do, sald Clearwa- is unreasonable to expect to keep Joint creditcard in both of the for: allylaseher house anyway. fer bankruptcy lavyer Harvey J. anything that you can't make the mer spouses names, the echustand ALFERNATIVE SUGGESTION: She Spinowitz. He can stil be evieted payments on, said credit counselor ‘will also beresponsibleorthat debt. could try to persuade her bak to if he was given the eviction notice Bill Sheehan with DebtHelper com, If the wife does not have enough enter into a forbearance agreement, before filing for ankrupicy. Even ALTERNATIVE SUGGESTION: Shee- available cash to pay the debt, then which would allow ber to stop make ‘it he wasnt, his landiord could fle han said the young man should call ‘the credit card companies will go ing mortgage payments for a few ‘a motion for reli to kick him out, lenders to explain bis situation and after the husband, Spinowitz said, months until she was on stronger __ His student loans — like child sup. try to negotiate some of payment However, the exhusband can sue financial footing. She could also ry ‘port obligations, criminal fines and system, He should also consider cut- the exwife in family court ifin the a mortgage deferment agreement ‘any taxes — are not discharge- ting back on his expenses, said Gail divorce she was made responsible under which she would stop mak- able, meaning bankruptcy will not Cunningham, spokeswoman for the {forthe creditcard debt Ifthe wife{s ing payments and then pay a lump ‘release him from personal Hablity Nationa Foundation for Credit Coun- solelyresponsible forthe creditcard, sumat the end ofthe deferral period, for that debt. If his ear is repos- seling, Use poblic transportation or bankrupiey would help protect her Sheehan said, She need to speak to sessed, he will be liable for the dif. move back home with parents for & ‘becaeereditcard debtis discharge a certified hoasing and credit coun ference between what he owes and while,Cunningham advised. able. Bankruptey will aso temporar- selor to figure out her best move if iy protect her home from foreclo- she wants to protet her house, Cun- Two more examples: Dealing with medical costs, Sea aneera PRET STITT Cee eer Tah acca aS. GD | Sunday, July 12,2009 | St.Petersburg Times kee Business Near-retirement couple Retired couple 5 ~ is . tee

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