Should I file Bankrupcy?

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You need to focus on the speeding ticket first. Not paying it will eventually endanger your ability to have a driver's license, which is your family's lifeline at this point. Go to the court and work out a payment plan so you eliminate the legal issues. State what you can pay and follow through with that assertion.

If you only paid in three months worth of car payments, then you really have nothing lost. In effect you leased the car. It is true that you defaulted on a loan, but you haven't said what type of organization you bought the car from. Check your credit reports, and see if they reported you.

Lots of people have cars for sale -- sometimes checking the want-ads is not a terrible idea. You will have to save for certain expenses (like having a lien put on the title of the car -- meaning you drive it, you're making payments, but if you default, the lienholder has the right to get it back). If you do not go through a major dealership, your previous default may not even be an issue.

Put your main priorities first, and try to get a family member or close friend to help you. I can formalize your personal finance issue, but there's no need. There's no substitute for financial backing, and you are unlikely to get it from anyone but someone who cares about you (not your credit score). Cut your costs, and pay off the ticket.

Finding the appropriate car for you, giving your circumstances, if a full-time job for a several weeks. Spend the effort on finding the right car that has financing appropriate for your situation. You cannot say I NEED this NOW. You have to say I need a car, but only if it will better my future outlook. That takes time -- not just calendar days, but YOUR time. Bettering yourself, socially or financially, is a job. Treat it as such, with appropriate devotion, and I'm certain you can find a suitable remedy.

Nothing trumps having a financial backer for the short-term, which will be in the form of family or friend.

Hope this helps, and good luck to you....Show more

Get a legal professional and get his recommendation earlier than the lawsuit is settled. Ordinarily with bankrupcy , many lawyers present a free consult for the primary seek advice from. Any individual here does no longer understand your possess personal hindrance. Chapter 7 is a total bankrupcy, where Chapter 13 is a payback bankrupcy for minimal of 30mos.Lawyer costs are less expensive for Chapter 7 than for Chapter 13, due to the fact that Chapter 7 has no ongoing issues that come up after it's executed (often). Recent law alterations have made it more difficult to file Chapter 7. If you have a home or rental or actual estate with a fair sized amount of equity (I think it is $5000), then you will often ought to do the payback bankrupcy or lose your house. You're also simplest allowed to have a vehicle that is worth only so much (ie I suppose it is $2000). If your home equity is low, oftentimes that you could still file chapter 7 and reaffirm the personal loan on the house. I'm not a attorney, however have bankrupcy DOES have an impact on your credit score and it DOES stay for your credit score record for about 7 years(?) and employers DO frequently snoop into your credit for distinctive jobs...I feel that stinks..It's none of their trade....Repeatedly bankrupcy is the simplest or simplest approach out... Yes there are methods you might be can negotiate bills, however most of the time most effective with a company that can negotiate on your entire charges and prepare payments for you...Your creditors frequently is not going to trust you to do these repayments to them your self. The situation is who are these organizations doing the negociating for you?? Are you able to trust them with your finances and personal information?? I have now not heard of any individual or two that stands out status wise from the rest...Might be the better business Bureau would be aware of....Show more

I'd stay away from bankruptcy if you can help it - that'll mess you up for years to come. And wouldn't likely help you get your car back.

Good luck....Show more

First, you don't have enough debt to bother with bankruptcy. It costs about $2K to file.

Second, bankruptcy won't help get your car back, even if you are correct and it's possible to get it back a year later. You can't include those fees in bankrutpcy.

By the way, it's not repo'd, it's impounded for the traffic fines. They may hold the vehicle for a certain amount of time before selling it off. But you would not only have to pay the fines, but the impound fees including the daily fee. After a year, those fees are probably more than the car is worth.

Save up and go buy a cheap car for cash ... that is if you still have a valid license after not paying that fine....Show more

No. The fees to file cost almost as much as you owe. It is doubtful you would get approved with your earning years still ahead of you. Odds are they would simply garnish you until the amount is paid. You can't bankrupt out of court fees nor would it get your car back. Try to negotiate a settlement plan on the non-court debt. . It might be wise to get finacial couseling....Show more