Is it possible to write a loan contract which effectively secures the debt against the borrower's property
only in the event of bankruptcy or death of the borrower? I.e., as long as the borrower is in control of his financial affairs the lender has no right to the secured assets even if the borrower defaults, but if the borrower dies or goes bankrupt the security kicks in, so that the debt has priority for any third-party trustees managing the estate?
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posted by Estragon
on May 17, 2013 -
4 answers
I am filing bankruptcy soon (95% of my debt is medical debt). BillMeLater (owned by Paypal) is one of my creditors. Can or will Paypal try to take money out of my bank account to cover the debt? Will they close my Paypal account?
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posted by anonymous
on Apr 25, 2013 -
6 answers
My wife and I declared bankruptcy 22 months ago. It was the only way, and we have no regrets whatsoever. We managed to keep our house and what little equity we had. We are looking to move to a different house, and are curious about our mortgage options. My credit score today was 681, which is just on the edge of where (so I read) you can get a conventional mortgage. In two months, when we get past the two year mark on our bankruptcy, will the score go up appreciably, or is it a gradual thing?
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posted by anonymous
on Mar 18, 2013 -
4 answers
I own an Apple reseller somewhere in the United States. I bought this company from the former owner a few years back, despite having no education in business whatsoever (other than what I've learned on the job.) When I first took over as owner, it was kind of fun, challenging, a lot of work, and just slightly profitable (though with a debt from the loan I took out to buy the business). It was like this for about a year. Since then, not so much. Most days, I feel trapped and hopeless. So now I seek ideas.
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posted by anonymous
on Mar 12, 2013 -
20 answers
My former bank refuses to give me a refund on an un-cashed bank draft.
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posted by fiTs
on Feb 20, 2013 -
5 answers
Please help me get my financial situation in order during a separation from my husband. Looking for advice and suggestions from your own experience, or factual knowledge of "legal separation" in Washington state. Also looking for personal experiences relating to credit counseling, credit attorneys, etc.
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posted by virginia_clemm
on Dec 7, 2012 -
7 answers
What are the elements of a "fraud of creditor" defense in Chpt 13 bankruptcy case?
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posted by Flood
on Nov 20, 2012 -
24 answers
Starting from scratch at 45 years old, what's the best strategy for saving money & planning for old age?
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posted by anonymous
on Nov 10, 2012 -
11 answers
Can you recommend a specific online bankruptcy debtor education provider? There are a billion and the ones I've looked at don't fill me with calm reassurance.
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posted by anonymous
on Sep 28, 2012 -
2 answers
Has this guy found a way to not pay medical bills, if so, what is it? (in the USA)
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posted by Tarumba
on Sep 16, 2012 -
13 answers
I am seriously considering declaring bankrupcy. I have a few main questions: 1) Do I need to know each company I owe money to? My parents opened all kind of credit cards in my name years ago, and I don't know about the specifics, and would like to avoid speaking to them as they are not exactly trustworhty. 2) How do I actually start the process? Who specifically do I see to manage declaring bankruptcy, considering I have zero cash? 3) If I have a credit card in my name, for which my partner is the main holder, will I have to cancel my part of that card, which I hold only for emergencies?
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posted by asimplemouse
on Jul 22, 2012 -
26 answers
I am thinking I might need to file bankruptcy, but have very basic questions. Help would be appreciated.
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posted by anonymous
on Jun 28, 2012 -
15 answers
I have about $10-20k of unsecured debt that is over 5 years old. The money has been discharged to collections and I have had judgements against me.
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posted by laptolain
on Jun 16, 2012 -
11 answers
GMAC Mortgage is filing Chapter 11. Is there any reason to hire a lawyer?
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posted by mkb
on Jun 4, 2012 -
6 answers
Chapter 7 bankruptcy will be discharged in 60 days. What should I do to start rebuilding my credit?
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posted by anonymous
on Jun 1, 2012 -
14 answers
I have student loans in my ex's name. Can I buy them back into my name, and how?
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posted by fracas
on Feb 1, 2012 -
4 answers
My in-laws are broke, bankrupt, and have massive car payments. How can we help dig them out of this smoking crater without falling in?
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posted by anonymous
on Jan 24, 2012 -
16 answers
I declared bankruptcy about 6 months ago. I have two small children. I need a new (to me) car. What are my options?
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posted by anonymous
on Jan 11, 2012 -
22 answers
Where to send my wonderful neighbor who really, really needs help?
My neighbor is one of the kindest, most amazing people I have ever had the pleasure to know. He just came to ask me for advice about a financial problem that he is now facing. He co-signed for a mortgage loan for his son-in-law a few years ago, and just found out that his son-in-law lost his house. A collection agency just called my neighbor at work and is demanding payment of $90K. Where can I send him for help?
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posted by jeanmari
on Dec 8, 2011 -
27 answers
Do I have to reveal a bankruptcy that has fallen off my credit report when applying for a car loan.
My credit union is asking me directly if I have EVER declared bankruptcy on its loan application. I have waited till it dropped off to apply for a loan but the way it is worded has me worried. I have not filled out the app yet and was thinking it might be better to go in person and talk with someone. My credit score is 736 which I think is pretty good, but I am still worried about this question. Any experience with this anyone?
posted by cairnoflore
on Nov 12, 2011 -
14 answers
My brother was scheduled to have knee surgery, but has just lost insurance coverage. How can I help him?
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posted by Vorteks
on Oct 26, 2011 -
16 answers
My dry cleaner appears to have gone out of business with my clothes in their possession. What can I do to get my stuff back?
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posted by sevenyearlurk
on Aug 16, 2011 -
11 answers
Filing for chapter 7 bankruptcy in Washington State. Need advice and resources on self-filing.
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posted by anonymous
on Mar 2, 2011 -
8 answers
My employer filed for Chapter 11 Bankruptcy with little warning. What can I and my fellow employees (both currently employed and those recently laid off) do to protect ourselves?
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posted by aristan
on Jan 16, 2011 -
9 answers
have you been through a bankruptcy? what was it like for you? how has it affected your life?
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posted by anonymous
on Dec 7, 2010 -
6 answers
I recently applied for a corporate American Express card through work and they told me that they found an old written-off debt from 1990 under my name. How best should I handle this?
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posted by anonymous
on Aug 31, 2010 -
5 answers
YANML: If you are receiving a lump sum after filing bankruptcy, but BEFORE the bankruptcy is discharged, can that be seized as an asset?
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posted by anonymous
on Aug 28, 2010 -
7 answers
I am working with a lawyer to declare bankruptcy. I was served papers last week that show I am being sued by big huge credit card company for unpaid debt - around $30,000. I contacted my lawyer when I got served and she said if we could file before the date we had to appear in court there would be no problem. Hilariously, though, she is on vacation out of the country until just before the date I must appear in court, and I just got email from her assistant saying that we would probably not be able to file bankruptcy before the deadline and that I may have to 'file a response' to the suit.
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posted by anonymous
on Aug 12, 2010 -
10 answers
I opened a glass shop thirty years ago, and it will soon succumb to the economy. In those thirty years I've always thought of my employees as one big family, and that's the way they think about myself and each other.
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posted by ok
on Jul 16, 2010 -
17 answers
NotMyLawyerFilter: How can we get my girlfriend's ex-husband's name off her car title? Of course, there are complications...
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posted by Saxon Kane
on Jul 13, 2010 -
6 answers
I have a job interview coming up that I'm a little nervous about, and needless to say I want some advice. It's a long read, so bring a cup of coffee for this one. If you can offer any insight or advice, I'd greatly appreciate it.
(Long story short, I've got a previous "BK" filing that I'm worried about)
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posted by wamsille
on Jun 16, 2010 -
7 answers
I need advice/an attorney recommendation. We live in Westchester County, NY, and are considering walking away from our co-op mortgage.
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posted by anonymous
on Apr 7, 2010 -
4 answers
House is being foreclosed on after a long battle with the bank. We've got mere days to move and nowhere to go. Can we leave behind furniture, etc, that we can't afford to move or dispose of? Are we liable to clean the house?
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posted by anonymous
on Mar 28, 2010 -
11 answers
DebtFilter: should I declare bankruptcy before leaving the USA for a long time? Details within.
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posted by anonymous
on Mar 21, 2010 -
14 answers
Our bankruptcy is less than 2 years old, but we are trying to get a mortgage. Contract-for-deed or rent-to-own will not work, so don't suggest those. Everybody, whether a bank or a mortgage broker, says "FHA requires 2 years post-bankruptcy before we can lend to you," but is my only option really to wait?
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posted by AzraelBrown
on Mar 17, 2010 -
11 answers
I need to get out of my house, and it's not all due to financial reasons. Is short sale a viable option?
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posted by anonymous
on Feb 11, 2010 -
10 answers
