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Question by Broke: Does credit card debt through a s-corp credit card impact your personal credit rating? What about bankruptcy?

Best answer:

Answer by Rainy
yes and yes . . my husband has an s corp and when we first got married my credit score dropped cause I married his poor credit score. . now our credit score after 25 years in business is very high cause he pays his corp bills on time. .

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by MANILA IMPERIAL MOTOR SALES . . . .

Question by bjr4613: how do I qualify to file for personal bankruptcy? what is the amount of debt etc. all criteria?
i have a lawyer through work. are school loans allowed to be used to determine ? what about subprime lenders ASTRIVE

Best answer:

Answer by ibu guru
Student loans cannot be discharged in bankruptcy. They must be paid in full.

Since you are working, you will probably be put on a payment plan. By the time you pay all your debts, the bankruptcy court fees, attorney fees, and fees to the Bankruptcy Trustee, your debt load will be far greater than it is now. They will take your income, distribute it to your creditors.

You can budget repayment of your debts yourself and spare yourself from high costs, years of debt repayments and burdens imposed by the court, and a 10-year blemish on your credit report. Note that while bankruptcy is only kept on your credit report for 10 years after discharge, it is a public record that lasts longer than you, your children, and grandchildren do. Get going on paying those debts and you will be much better off.

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by Michigan Municipal League (MML)

Question by featherjack: Can personal bankruptcy wipe out obligation to pay my ex-wife’s credit card debt based on a NH divorce decree?

there were no children. there are no child support issues, no alimony was awarded.

Best answer:

Answer by Curtis
Not anymore,,,,

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Question by LongTermCapitalManagement: Is it ‘immoral’ that people can go into PERSONAL bankruptcy over MEDICAL debt?
That’s the system we have in the US right now. The system is slowly cracking under its own weight. Recently, I have seen people making a MORAL argument for universal health coverage – that it is immoral for such a rich country to have people going bankrupt due to medical debt.

Is this really a moral issue, though?

Regardless, it keeps getting bigger, and I bet we will have nationalized health care eventually, just due to political trends.

Best answer:

Answer by captaincollector@sbcglobal.net
Yes it is remember you are your brothers keeper

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Question by Jacqueline F: filing personal bankruptcy and trying to start own business.?
Okay I want to start my own business in 2011 but I definitely want to file bankruptcy for my personal debt. Now if I file in 2011 will that effect my business before it even starts? I’ve tried getting business credit cards and even bank accounts but it always falls back on my personal info.

Best answer:

Answer by help
I am in the process of declaring bankruptcy bc I signed up to run a franchise that was a total rip off. But declaring bankruptcy is awsome bc I don’t have to pay anyone! wohoo. I aslo have 3 business right now and I am going to start up a solar power busines this comming summer and i’m also starting up 3 busineses online. How do I get my money? with my painting business. Also tricks at the bank (not illegal tricks..all legal) Right now I have 3 businesses and starting 3 other ones this comming year. I am also only 21 yrs old and my last year in college. you do not need loans to start a business. Look for investors and such. If you are going to the bank to get loans that is saying you do not know anything about starting a business. Google up ways to make money fast and ways to get money. Google up how other businesses started up with out money. There are countless entrepreneur stories that tell you how they became rich starting a business with out money.

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by MANILA IMPERIAL MOTOR SALES . . . .

Question by merrycat2000: Can someone please tell me if filing personal bankruptcy will get rid of all my credit card debt?
Also, anyone know of a reputable (tried and true) debt relief assistance or debt counseling company?

Best answer:

Answer by purplepassion
Good Morning =)

Depending on your assets(house/car/bank accounts) you may be able to get all of your unsecured(credit card) debt discharged(forgiven) by filing chapter 7 bankruptcy.

Consumer Credit Counseling Service(MMI) helped my sister figure out that bankruptcy was her only option and MMI has been approved by the Executive Office for U.S. Trustees to issue counseling certificates in compliance with the bankruptcy code(needed for court.)

They only charged a fifty dollar fee total to counsel her, give her the needed certification for court and also the follow up paperwork she had to have for her bills to be discharged.

To find out what your options are,call or fill out the form online by following the link below.

Best of Luck to you =)

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Question by bear: How can a 71&79 year old coupel get rid of personal credit card debt without fileing bankruptcy?

Best answer:

Answer by georgespindrill
u must sell ur organz

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by eric731

Question by jr: can one file bankruptcy for personal debt and the irs for taxes?

Best answer:

Answer by intheleast
Generally, federal income tax is not forgiven by bankruptcy. There are some rare cases in which a good bankruptcy attorney can get them dismissed, but those are usually cases where the filer is permanently disabled or in some other way it can be proven that they cannot earn an income in the future and payment of the tax owed is impossible. Those cases are few and far between.

You generally work out an agreement with the IRS to repay the back taxes before the court will approve the bankruptcy. The IRS may help you out by reducing the penalties and interest that accrued on your unpaid liability.

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Question by chez: Bankruptcy? Can they pay personal debt to family?
I am going bankrupt, i have all my creditors on my list…..i owe a family member £1000
Can this also be wiped off in anyway?
Thanks

Best answer:

Answer by Iffy
NO

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