Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Bankruptcy
Profile Image

Question By
birgitte26

0 Contributions
0 People Helped
Filing Bankruptcy on a fixed income
I have a home loan they won't foreclose on even though I have abandoned the property, I cannot live there for domestic issues, and a car that was repossessed in a domestic dispute. The other loan holder on both has already filed bankruptcy. I am disabled and have a very small income. Should I file bankruptcy, is it feasible to fix my credit. I also have a ton of student loans though they are in forbearance until my health imporves.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
7364 Contributions
3809 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

You may want to discuss this with a bankruptcy attorney because they usually offer a free initial consultation and  during that consult, often offer advice on things you can do to avoid bankruptcy.  Your income, also, may be a factor.  I'm on a disability retirement and that money cannot be touched by anyone else.   You may be below the poverty level which also means keep your money to yourself for survival.

If your health does not improve before the forebearance period ends, look online for the total disabililty discharge form for the loans.  You would have to have a Dr. fill out and submit the form and the process takes three years (they verify status and work history during this time) then the loans can be can celled.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.