bankruptcy stay eviction
What can i do, need the most sufficient and legal advice.?
Ok first and foremost, im a 21yr old male living in Jackson, ms. I didn’t have anyone to really teach me financial stability and the does and don’ts. What I really need help with is really getting a hold of my credit. My score is lower than 600 above a 500. I have a few delinquent accounts, a bunch of inquires from the age of 16, one hospital bill and now a damn eviction from an apartment complex. (In which I was helping my sister out by putting it in my name. Never stayed there) I can’t get anything for myself nor establish anything for myself. CAN SOMEONE PLEASE GIVE ME THE BEST LEGAL & SUFFICIENT ADVICE. DESPERATELY NEED IT, DON’T WANT TO FILE BANKRUPTCY FOR SOMETHING MINIMAL AS THIS.
First and foremost, you don’t need to declare bankruptcy. Bankruptcy is reserved for people in dire trouble such as with a home loan or business that is going under. A few credit card accounts and an eviction will not cause a bankruptcy.
Now, you have several options. The first is to wait out the 7 years it takes before items will drop off of your credit report. This is 7 years from the dates of last activity. So, if the apartment complex is still pursuing payment then don’t pay them anything or this will be considered activity. Now, they could sue you but getting blood from a turnip is highly unlikely. They know that it’s likely you don’t have any money or assets and will not come after you. I have some rental properties and am very careful about going after anyone as lawyers are very expensive.
Second you could remove yourself from the situation and begin to put your life back together. I did this a the ripe old age of 19 when I joined the Army. I had some debts, paid them back and had a strict policy of never cosigning or loaning money to any family member. Ever!
A third thing you could do is to call all of the accounts and put together a payment plan. Go purchase Benjamin Dover’s book called Back Off. His weblink is below. Before you make yourself known to the collection folks, read his book. You only have to deal with whomever “OWNS” the loan. So, for example, if you owed $2000 to Sears Credit and they turned the debt over to an outside collection agency. You could send that outside collection agency a ‘Cease and Decist” letter and they are only allowed to contact you one more time. Then the debt is referred back to the owner. Now, beware, some collection agencies actually purchase debts for fractions of a dollar and attempt to collect them. If they own the loan you have to answer to the owner.
Get yourself away from the situation which is the environment that is causing this. Join the military or get into school. Neither of these places require you to have good credit. If you stay in the environment you are in the same pattern will emerge over and over.
Good Luck.
