Question for Adults.

[bullets]

i dont think he would get that kind of loan with no credit and if he does find a loan i would be wary of it. that could sink him as well

 

[tzarinna]

What?

 

[TBadora]

What?

Dinner. My place.

 

[knowsbleed]

People...this man needs real help. Stop speculating on things you have zero experience on. 2nd hand knowledge will not help in this situation. Tza has gone through bankruptcy and moved on...I've known others who have done that as well. Quit acting like its something that will haunt you forever.

 

[TBadora]

Bankruptcy is not a solution. It will not gurantee that the problem will be solved. Since that's the case, and since bankruptcy can ruin you. I suggest looking at all your options first.

 

[tzarinna]

I've filed for bankruptcy twice, single woman on my own and managed. Maus is a married man, he's got tons of support.

 

[tzarinna]

Maybe his lawyer will give him some better options, we shall see.

 

[Badger]

People...this man needs real help. Stop speculating on things you have zero experience on. 2nd hand knowledge will not help in this situation. Tza has gone through bankruptcy and moved on...I've known others who have done that as well. Quit acting like its something that will haunt you forever.

Exactly, while bankruptcy should be a last option, it is not something you can't recover from. My wife filed for bankruptcy before we met and 8 years later she has great credit. It's about being responsible and following through on your decisions.

Again, his lawyer will prove to be the biggest asset in this situtation.

 

[Fledermaus]

Bankruptcy is an option, but only a last resort. My wife's credit score is about 688, so we're hoping that will increase the options before us. Besides that, I don't want her credit to take a hit.

 

[Badger]

Bankruptcy is not a solution. It will not gurantee that the problem will be solved. Since that's the case, and since bankruptcy can ruin you. I suggest looking at all your options first.

Well of course you look at all of your options first. And if bankruptcy ruins someone, it's because they did not hold up their end of the deal.

 

[knowsbleed]

This blog might provide some insight on bankruptcy. It is a small business owner's personal experience on it from beginning to end. The links on the right will take you through it all. Check it out...http://blog.piggybankrupt.co.uk/2006/04/about-piggy-bankrupt.html

 

[jaguarr]

To be clear, bankruptcy isn't his only option but is most certainly one his lawyer is going to be looking at. It really depends on the creditors, how many of the debts can be waived and what other approaches can be taken to lessen, restructure and pay off the debt. But bankruptcy isn't an immediate financial death sentence to anyone who goes through it. No, it's not an overly desirable solution because it does take roughly seven years, sometimes less if you conduct yourself properly fiscally speaking and petition to have it removed from your credit record early, to recover from a bankruptcy. But it's not an evil financial status as some seem to believe. It's just another tool that's there to protect people when they need it, such as in cases like Maus'. Yes, it's been abused by jerkwads who are financially irresponsible and then hide behind it, but that doesn't invalidate it as a viable option for those that truly need it. In this particular case, there's a particular kind of legal expertise that's needed to help him resolve these issues. It may even take finding an experienced estate lawyer or financial restructuring attorney. Maus, your family attorney should be able to tell you if this is outside his area of expertise and refer you to someone who can help.

All that said, I know you're not keen on selling off the house, but it's not a bad suggestion. It could help you resolve all the outstanding debts and maybe even have a little left over to carry you through until you find a job and then possibly help you put a down payment on another place for your family. I know you said that you wanted to hang onto this place because of the childhood memories and because you want to raise your daughter there, and that you didn't think you'd be able to afford a place as nice as the one your grandfather left to you. However, in reality, you can't afford the place you have now, either. And, it could turn into a serious albatross around your neck if you try to hang onto it, with every creditor your grandfather had trying to put a lien on it or force sale of it anyway. Your lawyer should be able to advise you on that. The point is, though, that you've got a family of your own now and you need to be ruthless about taking care of them and making sure that your own debt is minimized or non-existent and the possibility of selling your grandparents' house may be one of the things that you need to be open to in order to do that. Not what you would like, I know, but it's something you need to prepare yourself for as a possibility either by your own choice or by force from your grandfather's creditors.

jag

 

[Fledermaus]

Thanks for the advice everybody.

 

[Comic Book Boy]

The best advice I would have is to listen to your lawyer, if he is a good one.

 

[ShadowBoxing]

I like chaseter's suggestion. I know you're attached to the house, but the memories never leave. I've moved around a number of times in my life, and in the end stuff is stuff, you can't take it with you.

 

[Arkady Rossovich]

My grandfather recently passed away. He and my grandmother adopted me. I've spent the last 5 years taking care of them. While I was in college ( I have an Associates Degree in Electronics and another in Programming). my grandmother asked me to move back home because she and my grandfather could no longer drive, or adequately take care of themselves. My grandmother passed away in 2004, so for the last almost 4 years I have taken care of my grandfather. Cooking, cleaning, doctor appointments, the whole 9 yards. Consequently, I was unable to get a job, as he required 24/7 care for the most part. As I said, he passed away recently, leaving me with a house, two cars and almost 90,000 dollars in debt. This was not completely unexpected, however. I was expecting some insurance to help. But it turns out my grandfather canceled the insurance policy that was to cover his funeral/burial expenses, and the other policies that were supposed to go to me aren't. To sum up this paragraph, I am, basically, f#cked. I haven't really had a chance to mourn as I have had to get my s#it together instead. What I'm asking is this: Has any Hypster ever had an experience close this? What the hell should I do? There's about 8000 is credit card debt, do I have to pay that? We have a line of equity against our house at $620.00 a month for 15 years, I can swing that, but I need to know what my options are with the other things. I'm seeing our lawyer on Dec. 6, but I would just like to hear some other opinions. Thanks.

I have some experience in this.Know that they did love you,it's just that's how things are.Even if they die,and don't mean to leave you burdened..something always comes back to bother you.

Make some kind of plan to pay things off,take it slow and easy.You don't want to rush in and make yourself in a even worse situation,if possible..ask someone for help.Perhaps this debt will go away sooner,then..you can mourn in peace.

 

[TBadora]

If the house is paid off, than take out a mortgage and pay off the debts with it and work on the motgage like it's a mortgage on your house. Obviously you'd need to be working and your wife would need to help too.

 

[hammy]

My grandfather recently passed away. He and my grandmother adopted me. I've spent the last 5 years taking care of them. While I was in college ( I have an Associates Degree in Electronics and another in Programming). my grandmother asked me to move back home because she and my grandfather could no longer drive, or adequately take care of themselves. My grandmother passed away in 2004, so for the last almost 4 years I have taken care of my grandfather. Cooking, cleaning, doctor appointments, the whole 9 yards. Consequently, I was unable to get a job, as he required 24/7 care for the most part. As I said, he passed away recently, leaving me with a house, two cars and almost 90,000 dollars in debt. This was not completely unexpected, however. I was expecting some insurance to help. But it turns out my grandfather canceled the insurance policy that was to cover his funeral/burial expenses, and the other policies that were supposed to go to me aren't. To sum up this paragraph, I am, basically, f#cked. I haven't really had a chance to mourn as I have had to get my s#it together instead. What I'm asking is this: Has any Hypster ever had an experience close this? What the hell should I do? There's about 8000 is credit card debt, do I have to pay that? We have a line of equity against our house at $620.00 a month for 15 years, I can swing that, but I need to know what my options are with the other things. I'm seeing our lawyer on Dec. 6, but I would just like to hear some other opinions. Thanks.

Sorry about your grandfather. I'd be sure to have the lawyer check any insurance policies, even if you have reason to believe they were canceled. Also, he may say you have some rights in any others that you think aren't going to you. They may be required to pay off your grand-dads debt, first? I don't know. And make sure the home equity loan on the house is the only mortgage. They may have had others.

Good luck. I hope your lawyer is able to help you.

 

[Fledermaus]

Thanks for the advice. Another question, any ideas on job-hunting? I have the two associates degrees, but no practical experience. And since my last job was a caregiver and I didn't really think of it as a job, no records were kept. So I don't have any references. Any ideas?

 

[TBadora]

Thanks for the advice. Another question, any ideas on job-hunting? I have the two associates degrees, but no practical experience. And since my last job was a caregiver and I didn't really think of it as a job, no records were kept. So I don't have any references. Any ideas?

www.monster.com

 

[TBadora]

www.monster.com

www.workopolis.com


^ that's a Canadian site, though.

 

[TBadora]

www.Careerbuilder.com

 

[tzarinna]

Have you thought about renting a room in the house? If you and your wife are comfortable with that sort of thing.

 

[Matt]

My grandfather recently passed away. He and my grandmother adopted me. I've spent the last 5 years taking care of them. While I was in college ( I have an Associates Degree in Electronics and another in Programming). my grandmother asked me to move back home because she and my grandfather could no longer drive, or adequately take care of themselves. My grandmother passed away in 2004, so for the last almost 4 years I have taken care of my grandfather. Cooking, cleaning, doctor appointments, the whole 9 yards. Consequently, I was unable to get a job, as he required 24/7 care for the most part. As I said, he passed away recently, leaving me with a house, two cars and almost 90,000 dollars in debt. This was not completely unexpected, however. I was expecting some insurance to help. But it turns out my grandfather canceled the insurance policy that was to cover his funeral/burial expenses, and the other policies that were supposed to go to me aren't. To sum up this paragraph, I am, basically, f#cked. I haven't really had a chance to mourn as I have had to get my s#it together instead. What I'm asking is this: Has any Hypster ever had an experience close this? What the hell should I do? There's about 8000 is credit card debt, do I have to pay that? We have a line of equity against our house at $620.00 a month for 15 years, I can swing that, but I need to know what my options are with the other things. I'm seeing our lawyer on Dec. 6, but I would just like to hear some other opinions. Thanks.

In all honesty, Fledermaus, I'd just talk to your lawyers and see what they say. No one on the Hype (except maybe Hulk) can give you decent legal advice.

 

[TBadora]

www.Jobserve.us

With all these sites, you post your resume and if a company likes what you have they contact you. If you have no prior experience you are gonna have to work under someone for a few years to learn whatever it is you want to do. To do this, you may have to start small and gradually work your way up in whatever you are interested in (ie: Sales Rep. > Employee Manager > Assistant Store Manager> Store Manager > District Manager etc...)