You have about 8 small bill accounts each totalling around 350 started out at like a 100 dollar debt but companies added late fees etc...
your paying for a car that was 3,000 on the lot, after loan it comes to 8,000 , 5,000 of which is still due, the transmission was replaced and needs to be replaced again, and the car cannot drive on the freeway due to this.
a scam organization took out student loans in your name totaling around 4,000 ....got nothing but a few pamphlets and books out of this ordeal and the loans are in default, so u can't get anymore financial aid due to this for now.
also about 3 credit cards , each with a balnce due of around 1,000
is it a good idea to file for bankruptcy? To summarize your situation:
$350 owed in misc. bills
$5000 owed on a car which is in dire need of repair
$4000 in "phantom loans".
These are the steps I would take:
1. Explain the situation to your parents or relatives
2. Get a couple of hundred from your family to address the small bills --- call up the individual companies (for the bills adding up to $350) and ask them for leniency on the late charges. Pay them off.
3. At the same time as step two, if it is true that you did not take out those loans, then you should interact with the lender, in writing, protesting. You should not owe on a loan you didn't take.
4. Regarding the car, it sounds like you bought a lemon. You should complain to the company that sold you the car. Threaten to take them to small claims court and demand that they address your situation. Check with your state regarding lemon laws.
These things should be done prior to considering bankruptcy.
For the long term, learn to be a stronger and wiser consumer! I personally think that it would be a good idea , but you need to make sure that you won't ruin your credit again so you don't have to file again and make sure u put a stop to all the scam that was going on It may be a solution to some of your problems, but it depends on the income from your job and other resources you have. You don't provide a lot of information. See a lawyer who will advise you as to the best course of action. |
