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A bank is suing me , need advice please

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OBSurvivor

OBSurvivor

Legend (inyourownmind)
Oct 25, 2013
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Hoping to get some advice , would really appreciate. A bank is suing me. Papers got served a couple days ago & have 20 days to respond. A friend referred a bankruptcy lawyer as last resort. Really hoping I can still do a debt consolidation program. Anybody have any recommendations for a debt consolidation program in San Diego? Is it too late, do I have to file bankruptcy?

Thank you for any insight , would really appreciate. Long story short, blacked out at Makaha last year. At the time no insurance , woke up in hospital with $30k ambulance & hospital bill. Then finances crumbled after that. Knew one day I would have to address this mess , just came a lot sooner than expected.
 
everysurfer

everysurfer

Phil Edwards status
Sep 9, 2013
6,713
1,811
113
Santa Barbara County
Well, you don't say how much you owe, what assets you have, and how much you make. Sounds like your first mistake was not doing anything until now. I know extremely little about this sort of thing, other than to say I knew someone in your spot. He went bankrupt. He was surprised how much of his stuff he could keep.

Is the tax man after you too?
 
OBSurvivor

OBSurvivor

Legend (inyourownmind)
Oct 25, 2013
496
60
28
I owe the bank $15K plus total debt approximately $50K. Start of the year, started school up again & income very low . I agree totally at fault , even after hospital bills should have addressed right away. Luckily, I don't owe tax man anything. Don't have any properties or assets. Luckily cars paid off & titles not in my name
 
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everysurfer

everysurfer

Phil Edwards status
Sep 9, 2013
6,713
1,811
113
Santa Barbara County
Only 50K? That's not so bad.

How old are you? Are you ok with not buying a house or getting a car loan or credit card for 7 years?

Personally, for only 50 k in debt, I'd negotiate with your creditors for a payment plan and maybe a reduction in debt . Then get a job and pay it down.
 
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OBSurvivor

OBSurvivor

Legend (inyourownmind)
Oct 25, 2013
496
60
28
casa_mugrienta said:
No booze.
Click to expand...
100. Lost many relationships, boards, years, etc due to drinking like a madman.

Also everysurfer, im in my 30s. I'm a vet & luckily have VA home loan. Did some research, after 2 years you declared bankruptcy- eligible to buy a house. Just really want to consolidate all my debt but fear its too late & have to file big B.

obslop, seeing one on Friday when I get paid. Can bankruptcy lawyers organize debt consolidation or gotta find a different organization? Been searching on google, so many of them. Not sure which one
 
~rwright~

~rwright~

Michael Peterson status
Apr 14, 2015
2,539
967
113
Los Angeles~California!
Hiya Obslop!
Time to step up+help an erBBer out, in my humble opinion...
Help him connect thee dots to get his life a~goin' strong, again!

If i ever get down to your beach, from wence 1 of my best bro's lives when he's not cuttin' down his lil' plants,
well some~day soon i'll be on that beach shootin' ya, + my bro too,
it'll help your goofy~footed surfin' get a bit better...
Now that'll be kinda hard to do, as you'se rip!!!

'Nough said, can ya please help that dude out?
Refer him a good lawyer,
1 whom surf's...
l8z, rw
 
Ifallalot

Ifallalot

Duke status
Dec 17, 2008
88,996
18,047
113
The banks are usually receptive to working out a payment plan even after you've been served

When I had to deal with it it was for $5 or $7k or something- I called the bank directly, they told me they needed x amount, and it was paid off in 3 years.

Bankruptcy works as a good reset, and I think its a better option than debt consolidation, just based on what I've seen anecdotally. The problem is that medical debt can't always be cleared by bankruptcy.

And no booze is correct
 
G

gbg

Miki Dora status
Jan 22, 2006
3,972
3,539
113
Agree you should go see an attorney. Do the BK. Debt consolidation blows. You pay all the money back and your credit is wrecked longer than a BK.
 
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Duffy LaCoronilla

Duffy LaCoronilla

Duke status
Apr 27, 2016
39,180
28,795
113
OBSurvivor said:
I owe the bank $15K plus total debt approximately $50K. Start of the year, started school up again & income very low . I agree totally at fault , even after hospital bills should have addressed right away. Luckily, I don't owe tax man anything. Don't have any properties or assets. Luckily cars paid off & titles not in my name
Click to expand...
Drop out of school and get a job.

Move to a cheaper place. San Diego is expensive.

No drugs, booze, eating out.

No car if possible.

Find a cheaper cell phone plan or just don’t have one.


I’m sure there’s other expenses you can cut.

Pay your bills.
 
Mr Doof

Mr Doof

Duke status
Jan 23, 2002
24,941
7,860
113
San Francisco, CA
Being sued by a bank has gotta suck a whole lot.

Having never been is such a situation like that, no personal wisdom to share.

Having no close friend/family been in a situation like that, no observational wisdom to share.

That leaves the internet and the library for free knowledge, both of which can be helpful or misleading.

'Paid for knowledge'.....see what can be found via any sort of, gasp, social welfare programs before going to lawyer/legal aid help. And no, I don't mean getting a $ handout, but advice these places give for unfortunate people in similar straights as you.

Of course, you can skip all this and just go to the people suing you and see if you can work something out.

And if those terms are too harsh, well, there is the BK filing....but don't go into this without knowing all your options first.

Good luck.

PS Try this link
 
Ranga

Ranga

Billy Hamilton status
Dec 31, 2008
1,690
1,431
113
Do the bk, then reestablish credit responsibly over the next 2-3 years. Use the bk as your life lesson, and never put yourself in the same position again. If you owe credit card debt, you're not living within your means, Let this be lesson #1.
 
M

Muscles

Michael Peterson status
Jun 1, 2013
2,599
3,607
113
California/Hawaii
Quit school and get a job

Live somewhere cheaper

Pay your bills

Don't participate in high risk activities without health insurance again
 
OBSurvivor

OBSurvivor

Legend (inyourownmind)
Oct 25, 2013
496
60
28
Thank you for all the responses. Meeting with bankruptcy lawyer on Friday. Happy to put all this behind me
 
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