Hello
We have a personal account with Bank Of America. The wonderful company decided to raise my interest from a promotional 0% to 30% over an honest missed payment mistake. I spoke with them and they lowered it to 21% only to raise it again two months later.(I missed no payment) I paid 1300 in payments over several months but I stopped making payments to them in June and over the last 11 months have almost 3,000 in interest,late fees and over the limit fees, The company now wants 9,300.00 but will settle for 2,700 and give me a 1099 form for the balance. In reality this is money in the air I really only owe them 5,000.00 thats giving them what I think is a fair amount of interest of 50.00 a month since this started. They won’t budge. I own a small struggling business that only the business is in my name the property is being purchased by me on land contract. I am purchasing a home under a land contract as well. None of it is in my name for another 3 more years. I only own an older truck under personal assests and everything else is thru the business. My question is would I qualify for insolvency or do I have to claim the business as assets. What kind of taxes am I looking at paying with a 1099 form with an income of 25,000. Is this the best route to go. Bank Of America won’t budge on the price and half of it is there interest charges.
Tag Archives: Ohio
Hello
Attorney never finished My husband and I filed bankruptcy 5 years ago.
Attorney never finished
My husband and I filed bankruptcy 5 years ago. We have since then purchased a new van and house. We bought our house on land contract originally, but have since refinaced with extremely high rates. We were recently given the opportunity to refinance at a much lowere rate. While going through this process, we discovered that our Attorney who had worked on our bankruptcy had failed to do the discharge portion. How will this affect us? Can we lose everything we have aquired over the past 5 years? Will we have to wait another 7 years for our credit to clear up again?
My husband and i signed land contract papers on dec.
My husband and i signed land contract papers on dec.29 2008 we had the papers recorded in the courts, we agreed to pay off the house in two years. I called the owner to get pay off last month and she went up another 15 thousand dollars. I told her that she could not do that we had a agreement and we were not paying that much money. She called me back a couple of days later and told me that she went bankrupt and we had to move.So we did a couple of days ago,she will not give me nothing stating that we are not obligated to the contract any longer..How can i find out what is really going on and are we still obligated to our contract,. And how can she do that with our conrtact still valid.
land contracts I entered into what I thought was a land contract deal, however,…
land contracts
I entered into what I thought was a land contract deal, however, nothing has been recorded. I have already given them $1000.00 towards the downpayment. I still owe them another $1000.00. In the ”contract” printed off their computer, there is no purchase price and states that anything that they had represented to me, is null and void. Now five months later, I have discovered that there is an underground water leak, which these people knew about, that needs to be fixed. Am I responsible for this repair or are they responsible for it. They have title to the property. Also, there are a number of things wrong with the property, where they also knew about them. Can I get out of this situation (like move to another place) without any legal reprocussions?
Land contract Bought a house land contract 10 years ago, I have a signed…
Land contract
Bought a house land contract 10 years ago, I have a signed notarized contract. I am still paying the payments. The man I bought the house from recently died and the heirs are trying to take my house from me if I don’t pay the balence off. They are claiming the man had a living estate and that makes my contract void since he died, is this true? PS, they have been refusing my house payments also. Thanks, Rick