Furloughed flexer's

[Nolife]

Where have y'all ended up? I went back to what nature seems to have intended for me ... flying big boxes in small planes for smaller money.

BTW... since I got furloughed I called my credit card companies and tried to furlough them and they laughed at me. Any advice on bankrupcy verus just not paying for a while until I'm back on my feet.

 

[aveator]

well, sorry you`re in that situation..it sucks..if you dont pay your bills for x amount of time you go delinquent,,that could stay with you forever,,bad debt is suppose to be off your credit report in 7 years,,but if the credit card companies send the info again lets say in 5 years that 7 years starts again,,so youre basically gambling on the fact they will forget about you..if they get a judgement against you they can seize your bank account,,it happened to my brother,,they seized his checking account,,they dont care you have to put food on the table trust me...if you go the bankruptcy route,,theres light at the end of the tunnell,,your credits whacked,,but it would be anyway,,plus your bank account is safe..all this depends on how much youre in debt,,,if its a couple grand just work it out with companies,,if its major dollars go the bankruptcy route,,theres a couple ways to do it,,best thing is consult attorney,,hope it helps,,hopefully youll be off furlough soon......

 

[Nolife]

I knew about the judgements and the 7 years negative however I didn't know they could resubmit the negative value after seven years essentially keeping your score down indefinately.

Wife moves toward bankrupcy I just don't want to have future employers discount me due to bankrupcy.

Damned if you do damned if you don't.

 

[aveator]

this is purely my opinion,,I think bankruptcy looks better then just blowing your creditors off,,bankruptcy shows that youre taking the steps to clean it up,,not paying,,well that looks like you dont give a sh*t...I say do what you gotta do...consult an attorney and they can spell out what filing chapter would best suit your situation..Hope it works out for you...oh yeah,,when a company charges a bad bebt off,,they either a,,just forget about it,,or b,,sell it to someone,,now here is where you get f_cked,, the entity that bought the bad debt for pennies on the dollar,,they want to turn the screws and try to get full balance from you,,you can bargain with them and maybe get away with paying pennies on the dollar,,but know this they will run against your credit forever,,they may wait til 6.5 years and run it agian which starts the clock over again..fyi

 

[DUATS]

To answer first question, I got the military to take me back.

To answer second question, there are ways to deal with the debt without bankruptcy. The problem with debt reappearing comes about if you literally do nothing. If your finances don't let you pay anything know, one option would be to ignore them for about six months - then go back to them with a cash offer to settle. Word to the wise: don't offer to settle unless you have CASH to make a lump sum payment. Don't give them access to your checking account - send money orders only. Make sure you get an agreement in writing. After 6 months of no payments, you can probably settle for about 50% of the original amount (ignore the interest and penalties they keep adding). This dings the credit rating, but not as much as ignoring it or going bankrupt.

Check out www.daveramsey.com for professional advise on getting out of debt. His system has changed alot of lives.

 

[unclepetey]

I am also furloughed but I would do anything possible to honor my debts. Afterall, nobody forced you to take out these credit cards. But at some point you have no other choice. I wish you the best, if you are going to declare bankruptcy do it with style and milk it for all its worth.

 

[amaineiac]

Check out www.daveramsey.com for professional advise on getting out of debt. His system has changed alot of lives.

+1

Declaring bankruptcy should be your absolute last choice. From what I understand, not all types of debt are forgiven during a bankruptcy either.

 

[CherryBomb]

Sorry to hear about the debt problems. I've been walking the line on that as well. Plus Im close to the bottom of the recall list. Ugh...

I don't know where you are based. If you are DFW based you might consider the Dallas Police Department. They, as with most PD's, are hiring. Dallas starts at 42k with a 10k sign on bonus. That sure helps with bills and its probably better than flying boxes. Not sure if law enforcement is your thing, but government jobs are fairly safe for now...

I was lucky to find a job in Indonesia. Its dang hot here but it pays the bills and all living expenses are paid for. If your wife is adventurous, most companies are willing to move your family as well. I have found out that once you get overseas, the opportunities start to multiply. I loved my job at Flex, but its going to be hard to leave this money and the QOL here. Round eyes can live like kings over here for very little money...

Good luck fellas.

 

[gunfyter]

What about HS math teacher? I keep hearing there is a shortage of math and science teachers....

 

[DUATS]

+1

Declaring bankruptcy should be your absolute last choice. From what I understand, not all types of debt are forgiven during a bankruptcy either.

Taxes and student loans never go away, even in bankruptcy.

If you have a car or house loan, they DO go away - but so does the house or the car.

Unless you are REALLY poor, the Court puts you on a pay-back plan that can extend 5 years - and can adjust annually if you start making more money.

Oh, and don't try the debt consolidation people - rip off artists who keep the first payments you make, send nothing to the credit cards, and you keep getting the nasty phone calls.