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Debt Consolidation Forums Bankruptcy Chapter 7 and Chapter 13 forums

I finally have grown up, but my finacial past is haunting me

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To the experts: (I appreaciate your time)

I have came to a point in my life were I will never be able to move on n be successful if I don't face these issues. I have estimated about 70k in debt cc, payday loans, medical bills going back to 2006. I am 28 now, but I was a piece of sh*t for majority of my life, doing drugs, gambling, etc. My mother god rest her soul passed away in 2007. I hate these times cause she was my backbone and my forum. She left me and my sister the house we grew up in which at the time had a remaining mortgage of 160k 2007 , the house is valued at 310k in 2010. When my mothers post office insurance came me n my sister immediately paid the remaining mortgage, unfortunately for me I went back to my piece of shit ways drugs, gambling. At that point I was draining through my inheritance in record fashion so my sister & I decided with the debt I carry ($70k) n my bad lifestyle, we choose to sign the house over to her name (my sister). I have been sober going on 3 years today and finally run my own life. I moved to Georgia 2 1/2 years ago n finally found myself. My question is if i file for bankruptcy relief will my sisters house be affected if at one time I held ownership? What should I do?
Thank you

It is long enough since you signed over the wont be affected. GA, SOL on credit cards is 4 years. What state where you in when you borrowed the PDL's? Is anyone threatening to sue you?? Have you been sued? With SOL being past possibly on some debts, would it be better to wait out the credit reporting 7 year SOL??

Sub: #1 posted on Mon, 10/17/2011 - 14:38

Moderators Cum Industry Expert
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It is good that you have realized your past mistakes and are trying to rectify them. You are 28 now. So, you need to take your own responsibilities now. Soaplady is right. You sister's house won't be affected. You can file bankruptcy to get debt relief in a legal way. However, it is better to opt for bankruptcy when there are no other options left to you.

If you have piled up debts, then try out the other debt relief options first. Check out the following url to get info on them:

Sub: #2 posted on Mon, 10/17/2011 - 21:13

nandydiana nandydiana

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Yes I am being sued by all of them,.including the PDL's...I don't have a job, or own a car. One payday company keeps threatning me saying I.closed my account on purpose but in reality I lost my job at U.P.S so didn't.recieve direct deposit anymore..these collectors talk to me like I have a big pile of cash next to me....what does SOL mean? I'm sorry

Sub: #3 posted on Thu, 10/20/2011 - 10:58


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SOL=Statutue of Limitations

I would definately say go for the bankruptcy. Since you have no assets, you might want to look for a paralegal service in your area to prepare your paperwork. They usually charge $200-$300 plus the filing fee.

Stay off the phone.

Sub: #4 posted on Thu, 10/20/2011 - 11:09

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Souplady I appreciate your words THANK YOU

My mother was in a auto accident in 05 n settled with the insurance company, after she passed I learned that she structured the payments of the settlement to me starting in Feb 2012, its 262.00 a month for 5 years, I forgot to add that's my only asset.
Do I mention to the bankruptcy lawyer about signing over the house to my sister in 07?

Sub: #5 posted on Thu, 10/20/2011 - 11:33


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