Ok, so I like most people in the country are being hit HARD with the economy going to shit! I owe so much more than what my house is worth, as I just bought it 2 years ago. The first winter was not bad, but this one has been worse and we just found out it needs A LOT of work. We dont want to deal with it anymore. It really isnt worth it! We bought it for $135K and need to put about $50K into it!!! We also cant afford anything anymore, so we like most are considering bankruptcy. I dont want to because my hubby has GREAT credit, but its that or my daughter doesnt eat, and i WONT let that happen! But I want to know what will happen if I put the remained balance of my car on a credit card, can they take my car if i wait a few months to pay it? I would do a cash advance so they wouldnt know what it is used for. Help please! or if you have other suggestions. Thanks Please dont judge I have to do whats best for my family.
Asked by Anonymous at 8:20 AM on Feb. 9, 2009 in Money & Work
Answer by Anonymous at 8:43 AM on Feb. 9, 2009
Well what you are suggesting in wrong and illegal about your car. With bankruptcy they usually have a program for your car that will lower the interest rate, payment and the loan will be what the car is worth, so I don't suggest doing that. I also wouldn't suggest filing for bankruptcy unless your debt in greater than 25,000 not including your home.
Answer by Anonymous at 9:14 AM on Feb. 9, 2009
Answer by Anonymous at 9:27 AM on Feb. 9, 2009
Answer by NotPanicking at 9:35 AM on Feb. 9, 2009
Answer by Anonymous at 9:57 AM on Feb. 9, 2009
Answer by NotPanicking at 10:21 AM on Feb. 9, 2009
Answer by Anonymous at 11:08 AM on Feb. 9, 2009
Next question overall
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