Timeline for File bankruptcy, consolidate, or other options?
Current License: CC BY-SA 3.0
15 events
| when toggle format | what | by | license | comment | |
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| Dec 4, 2014 at 1:11 | comment | added | ChuckCottrill | Please give more information - income and expenses, assets and debts. Debt is complex, and so is BK law. But if your parents cannot payoff the debt in 5 years, they could choose to resolve it either through BK, or debt settlement. The debt is unsecured, and were your parents to default, they might be able to settle the debt after 6-12 months (for 10-30% of face value). repaying $45K at 19% is very hard. | |
| Aug 8, 2013 at 18:18 | answer | added | KeithS | timeline score: 0 | |
| Aug 8, 2013 at 17:20 | answer | added | Patches | timeline score: 0 | |
| Aug 8, 2013 at 11:34 | history | edited | John Bensin | CC BY-SA 3.0 |
typos and tags
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| Jan 25, 2011 at 2:41 | comment | added | chrisfs | I would consult with a bankruptcy lawyer about this as you want to make sure the advice you are getting is good. Especially about creditors not being able to get to your parent's house. The homestead exemption in bankruptcy varies from state to state, so in FL, they may or may not be able to get the house to pay off the debts owed. | |
| Nov 28, 2010 at 15:51 | answer | added | Timo Geusch | timeline score: 0 | |
| Nov 26, 2010 at 20:31 | history | edited | MrChrister | CC BY-SA 2.5 |
small typo
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| Nov 26, 2010 at 3:44 | answer | added | duffbeer703 | timeline score: 1 | |
| Nov 26, 2010 at 2:52 | history | edited | Reverend Gonzo | CC BY-SA 2.5 |
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| Nov 26, 2010 at 2:46 | history | edited | Reverend Gonzo | CC BY-SA 2.5 |
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| Nov 26, 2010 at 2:41 | history | edited | Reverend Gonzo | CC BY-SA 2.5 |
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| Nov 26, 2010 at 2:15 | comment | added | Chris W. Rea | By "five years away from retirement" ... you may want to elaborate on what that means in terms of expected benefits. What income sources are to become available in five years: Social Security? A defined benefit pension (from a previous job)? etc. | |
| Nov 26, 2010 at 2:06 | answer | added | mbhunter | timeline score: 4 | |
| Nov 26, 2010 at 2:03 | history | edited | Reverend Gonzo | CC BY-SA 2.5 |
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| Nov 26, 2010 at 1:44 | history | asked | Reverend Gonzo | CC BY-SA 2.5 |