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  1. So much to my story like all stories but I'll try to summarize: My mom developed a stage 4 terminal cancer a few years back. I've been trying to pay on both my house and her house. She lives in the house she's always lived in (for 40 years). They were foolish enough to continue borrowing against it. It was my grandparents house. All four of us lived in it. I eventually moved away. I've since come back to be the caretaker. My house is in another state. Eventually I want to go back there, move my stuff out, and sell it. There was a will from my grandparents leaving house to her (they have both died), or generically stated any of her children (only me). Lawyer said the will would cost hundreds to execute. Didn't have it. So we just kept living here and paying when we could. The house in my grandmothers name is in foreclosure. Sale date 2/20/20. Our notice came last week. In Missouri, they must have 20 days from time of mailing (not even 20 days after a signature because after I got the notice we only had like 17ish days). Two mortgages. Balance 1: $12k, balance 2, $11k I thought the company that foreclosed (balance 2) was the 2nd mortgage but there is some confusion there. Balance 1 bank is having their attorney review it. They don't know. House value: $130k Amount we need to avoid foreclosure: $3726.45. I have $1,000. I have a 500 credit score. I can't borrow $5 from anyone. Mom in the same boat. I had a business fail, and then we had her health issues. I haven't worked my real job since May of this year when I couldn't anymore (because of my mom). I do get paid to be her caretaker in a state program. People keep telling me we just need to file for BK and it would stop this but having my mom file wouldn't stop anything without it being in her name, right? I have a $25,000 guaranteed life insurance policy with Gerber on my mom of which I am the beneficiary. It was designed to pay off this house if/when she dies. The current doctor estimate is 6 months or less. I would like to continue living in the house as a goal. I definitely don't want to disrupt my moms care and move her out of the only house she's really known at this stage. It seems so close/possible to fix but so far away too.
  2. Thanks for the replies so far. I love understanding things. What would be the benefit to them to wait until they believe I might be able to satisfy the judgement in the future vs just getting the judgement against me while I was there and attempting to collect on it later?
  3. Hi all, Been struggling for decades with credit. Just never really mastered life I guess. I was here years, maybe a decade ago after a failing business. Managed to get credit cards again and then a major life issue happened. My mom developed a stage 4 terminal cancer. I have no siblings, she had no husband, there was just no one else to care for her, so I quit my stable job to accept a $900/month payment from the state to take care of her. That's the maximum the state will pay for monthly care but she really needs 24/7 attention. Not only does she have a stage 4 cancer but also has schizophrenia and tends to hear voices outside that she'll wander off to answer. All of her life all of my family has always said that they didn't want to be in a home. My mom honored those wishes for my grandma and kept her home during years of illness. Three years ago they gave my mom two years to live. In November of last year after a major fall that left her wheelchair bound (mostly), they updated that estimate to six months. I no longer pay on any credit cards, etc. I just left those $20k balances behind. Bank of America has sued. They are the only card of mine so far that's sued. My last payment was about 2 yrs. and 2 months ago. In my state, I believe the statute of limitations is 3 years. We recently had my courtdate and I figured I'd at least show up so that they wouldn't win a default judgement, see if they presented any solutions, and probably lose and accept the judgement. Best case scenario they don't show. Of course they came. I was just up front and explained my situation to their lawyer in our pretrial meeting. He was more understanding than I thought, still a little cold of course ("can't you just sell the house your mom is living in and put her someplace else?", blah blah... I explained that I didn't really have any money at the moment (I have $3), mentioned that I was 90 days late on my own house payment which they could verify by credit report and asked if BofA ever settles for a lot less. Lawyer said some other card companies do. He said they never do. As a result of our talk, the lawyer told the judge I was "way underwater" with "extreme family circumstances" (I was surprised for ANY compassion - I expected a "so?" type attitude) and asked the judge if we could reexamine the situation in December to see if anything has changed. So I have a next trial date a week before Christmas and no judgement (yet). The judge asked me if I agreed to that delay. I asked the judge if I wouldn't just come in December and lose anyway and have a judgement against me then and he said not necessarily. They could dismiss the case or other things could happen, etc. So I agreed to the move to December. What will happen to me if I go to court again and I repeat the same explanation in December? Do you think they ever would dismiss (if my mom is still alive and the situation is the same)? Is there a possibility of extending again? Do I likely just lose eventually as I originally expected? Any real world advice appreciated and thanks!
  4. Hi, I bank with a smalltown local bank that changes bank presidents every year. I strongly dislike their service but I have two home loans with them, and they are undocumented (I'm self employed) so I've stayed with them for years as I feel it would be difficult to get a loan somewhere else. They just called me to tell me that my loan has "matured" and I need to renew it. As a result, according to the bank this month, instead of owing the usual $203 that I typically pay, they'll believe I owe $14000. When I paid the $203 earlier this month, my loan was marked as late because I didn't pay the $14k. Next month on the 3rd, it'll be marked as late again. They need to renew the loan, but they wont have time to do so before the 3rd causing the 2nd late from them on my credit report. They would have discovered this sooner but the branch I bank at has no president (again). This is a reoccuring problem. Since I've been with them for like 10 years, they've had at least 5 presidents. No one ever knows what they are doing there as a result. I asked the employee who called me what could be done to correct the report. She says there is "just nothing we can do". Of course I know from this site that this isn't correct. In fact, the last time this loan matured, there was actually a very similar 30 day late situation reported but they didn't call me in advance at all. I had to dispute on my credit reports. Of course, I won, but the bank ended up deleting the entire tradeline (!!) which actually caused my credit score to ultimately drop bigtime. The home loan with the bank is also my oldest tradeline. Ugh. I filed BK like a little over 10 years ago, I've got about 10 credit cards, never a late payment on any loan since the BK, and my score is only a 630 because of various bad luck I've had over the years (this bank issue, WaMu credit card changing to Chase and them closing my account, WalMart changing to WalMart Discover and reporting a new tradelline; then WM credit declining me down from $3,000 to $250 for no reason other than my preexisting bankruptcy they already knew about when I applied originally, a collection agency reporting me for some equipment from a beta test that I was involved in where we never even had a prior agreement of anything at all financial which I disputed and won). Just seems like I have the worst luck with credit issues out of my control.
  5. Selling isn't as easy as you think sometimes. Exactly. I've had people come to me but they seem to think because it's closed I'm just going to give it to them. One man was talking about converting into a church and as soon as I started talking about money - even monthly payments - he was like "Great I'll call you tomorrow" and I never heard back. Someone else gave me a rather extensive list of things they wanted which basically amounted to me making it an extremely successful business for them, then selling it for maybe half of what it's worth now dormant. Even if I had wanted to do this, obviously if I reopened it and built it up again and was successful, I'd operate it.
  6. Thank you again for all advice and I will proceed with doing what I can do for the building this week. I don't really know what the building is worth. I paid $50k for the building and assets in an operating business back in 1999. It's the only business on a residential street and it sits on 2 acres of land. The entire rest of the street is filled with homes. It'd likely be worth more if someone got rid of it and put 2-3 homes in it's place if that's allowed. Maybe I'll try approaching banks again. I do have two home mortgages tho along with all of the other mentioned debt. Basically I don't think I'm in a position anymore where people are going to give me loans under most any conditions.
  7. Masking the names here a bit to maybe prevent this from showing up as obviously in searches... if anyone has specific experience with what might happen with accounts from these specific retailers, would appreciate hearing it (possibility of settlements/pay-for-delete type things, etc). Please let me know if someone thinks I shouldn't be this detailed and should erase this post for some reason. Sta-s (office supply store) $2100 HDM (hardware store Mastercard) $3500 A-n (online book store) $1700 WM (huge retailer from Arkansas) $1700 OffD (another office supply) $2700 KeB (Bank Mastercard) $5000 I guess the business total is $16700 actually, not $12k. Remember the problem is that these combine with my personal credit card debt ($22k). And then until now has combined with my girlfriends debt. That's where I've been feeling overwhelmed. Advice still appreciated
  8. So whats the best way to keep these off personal reports? The one that's months late hasn't shown up yet. Only a matter of time? Or? Any online companies that are good about lending money based mostly on a building/property where I could consolidate these into one smaller monthly payment or something? $12k doesn't even seem impossible to repay. I'd love to be rid of it but either way, it's just too much right now. This business has been around since 1979 under different owners. It had a bad period in the 80's under different ownership after a lightning strike/fire. When I've gone to local smalltown banks in the past, they tell me they've already owned it/foreclosed on it once back then and don't have any interest in owning it again... I couldn't even get a loan on the building in this area for like $2k-$3k. Just nothing. My personal credit looks stable (no lates) but strained due to utilization. It doesn't help my case that anything I make is self employment income and I haven't set anything up as a regular salary so no paystubs, etc. I've just been reinvesting all back into business for too long. I'm trying to get out somehow.
  9. Hi, Thanks for the suggestions. I do understand the emotional attachment issue that someone brought up as well. I would consider renting it out, or selling it. I just don't want to lose it for no reason after everything else. I do have a different unrelated business idea I've been wanting to try too. I just am pretty paralyzed now with all that past debt so I can't do much of anything. So the suggestion here to start a corp and sell the building to it sounds like a good next move maybe. It also just isn't possible right now but settling for a percentage somewhere later could maybe be a serious option here if it goes that far that anything court related enters the picture. My main thoughts are that I can't take care of them as-is right now and of course I'd prefer they not be on my personal credit report (I remember reading someone else here dispute these types of cards off their report as non-PG).
  10. That's correct. I purchased the business including building and assets for $50k back in 1999. Maybe $30k or so for the business and land? Not really sure. It's a cinder block building on a couple of acres of land.
  11. >The first thing your not understanding or I'm missing is your a sole prop so any credit you have under the business even if you didn't give them a "PG" is PG'd no matter what. Thanks. I do actually understand enough that I'm seeking advice here and agree. I do note that none of these have ever appeared on my personal credit reports in any way. The largest amount is approximately $5k (a well known Mastercard in this forum that starts with a K) and I have fallen behind enough that there have been no payments on it for approximately 3 months. To be honest, I'm surprised how little I've heard from them. The next highest balance is HDMC at about $3.5k. Everything else is like $1.5k-3k per card. I thought about cherry picking as you suggested but some of the smaller cards are connected to the same creditor as the larger cards. I'm guessing eventually all of the accounts connected to the business will be closed by the creditors once some of them start looking bad enough.
  12. Hi everybody, I had a business from 1999 to 2012 or so. The business remained profitable enough but I did fail some government inspections, we lost some licenses, and I had to close and cannot reopen. In the course of doing business, I racked up approximately $25,000 in personal credit card debt, $12,000 in unsecured business credit card debt, and probably significantly contributed to my girlfriends $30,000 in credit card debt. She's lived with me for the past 3 years. We're just barely scraping by after making minimum payments on all our bills each month and this month we had almost been unable to pay for electricity and food. So we've come to the point where we're making some decisions to move past this. She's filing bankruptcy under chapter 7. She owns no house or substantial assets and should be able to wipe that clean. While I have $0 in the bank, I do not think I am the best candidate for BK as I do own a building that was operating the business free and clear. Right now the building is empty and mostly a liability (property tax each year) but I don't want to lose it. So what happens if I stop making these unsecured business credit card payments? They are the usual types of cards discussed here in this forum. HDMC, Staples, etc. I don't have much of a choice at the moment as I have about $1,000 in payments due the first week of next month (next week) and I am already late on two business payments from this month. Even if I get sued and eventually have to make the business payments or settle, I can't pay them now so I'm evaluating my options. One thing to note is that they are all NOT personally guaranteed. But I do own the business (sole proprietor) The creditors have been charging me very high interest rates for years. I haven't even made any new charges in any substantial amount in years. The balances just don't go down much with interest. I'm sure they've made their profit at this point. The business has been closed for years and I've been trying to keep up with those payments but we've been really struggling. How responsible am I for this business non-personally guaranteed debt?
  13. I feel the same way. Applied for WalMart. Got approved for like $200. Had the account for a couple years. Credit limit increased with the soft pull method every 4 months. Got invited by regular mail to upgrade to WalMart Discover. Did it. Upgraded line to $3,000. NEVER another CLI, ever. Soft pull, hard pull. They blame a BK I had in 2005 before I even got the original card. Applied for Lowes 2011. Denied due to BK. Denied recon. Applied For Toys R Us Christmas 2012. Denied due to BK. CLD decline from $3000 to $2030 within the last few months on the one card I have with them (the WM Discover). Not sure what they don't seem to like about me.
  14. I would live dangerously cashing the check just assuming its one of those ridiculous settlements to avoid some potential class action and they probably aren't checking their own internal database to see whether or not everyone is in good status with the company... seems to be more and more of that nonsense these days. But not every decision I make is a right one
  15. Thanks for the suggestion. I guess I should look at this avenue of credit repair more to keep my utilization down. I have some. All were obtained during the no-personal-guarantee era from advice here on Creditboards. The Keybank Mastercard, Staples, Office Depot, etc. I have never tried for a business account that actually required my personal guarantee. It doesn't look like my current scores are enough to guarantee approval on any credit line. Sometimes they squeak by. Sometimes they don't. I don't know if it would be any better on the business side. I'm thinking no since it's just a sole prop business and would really focus mostly on my scores.

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