Bankrupt? tell me all you know about doing it?

[sonew123]

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dang that does skeer me

I wouldnt even mind paying everything back in small amounts over the next 50 stinking years but I just cant pay what everyone wants me too...Short sales are being thought of too-Dh has had to deal with them in the real estate business and he said they are real pain in the butt. I dont care how much I have to go through Im willing to do it-DH not so much But crap Ill do his part too if it means Ill be able to breath and enjoy the rest of my life! Calling a lawyer on Monday -a bankruptcy lawyer!

 

[sonew123]

The good thing is both the tenants leases are or will be up shortly. My tenant has until September-by law though she will be allowed to continue her lease even through this mess-the other tenants havent exactly been so great and their lease is up next month so it couldnt happen at a better time. Not like going through this has a better time but you kow what I mean-I have less guilt too for my tenant-

 

[Mrs. Turbo]

Are you sure you owe much on taxes if any at all? We own 2 rental houses and the tax write off is great, especially if you lose that much money a month on them. I would get all your paper work together and go to a tax attorney or a tax preparer and have them go over the last 2-3 years. We are able to rent ours for $100 over our mortgage, but it takes about a month to rent them out and lots of people to weed through. Our market here hasn’t taken a hit like the others.

 

[LovinMyPeeps]

Nat call me tomorrow so we can discuss this. I'm free in the morning and late afternoon. I've been through it and can give you some jumping off point info...

I've been there hunny. We'll all help you guys get through all this.

 

[sonew123]

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Aww you guys are truly making me cry...it is embarrasing to go through but Im to the point That I would run naked down mainstreet during rush hour to get rid of this problem! LOL--kristen I will call you in am when is a good time?

 

[jerseygirl1]

Nah, I think at o ne time or another we've been there. Sigh............OMG, I have so been there and back more than once.............................

 

[sonew123]

Mrs. Turbo :

Are you sure you owe much on taxes if any at all? We own 2 rental houses and the tax write off is great, especially if you lose that much money a month on them. I would get all your paper work together and go to a tax attorney or a tax preparer and have them go over the last 2-3 years. We are able to rent ours for $100 over our mortgage, but it takes about a month to rent them out and lots of people to weed through. Our market here hasn’t taken a hit like the others.

We have an accountant he has been wonderful -family friend-ok this is going to sound reall bad too-taxes have not been done in 3 years either! I know I know please dont rip on me-It is not my fault I have ridden DH for years about it but he is NOT a paperwork person and not a good bill payer either-God love him-I have already contacted out attorney and he is going to do our taxes and he thinks we might be owed actually-so thats a start too. 5 years ago we were paying in 7000$!!!!! Funny how things change huh?? I think Ill go hug a BLRW chick haha-( which are all doing great BTW)-thanks to my chicken $ LOL...I love my chickens I swear they are what has gotten me through this crap and heartache in the past couple years!​

 

[sonew123]

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[jerseygirl1]

I had debt collectors call my human resources department..............even though legally they were not supposed to -

 

[LovinMyPeeps]

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Call me anytime between 9 and noon whatever works for you. I have to go to a baby shower at 1. Then I'm free late afternoon. I've so been there, to the point of rolling change for gas, not eating so my cat was fed... TRUST me I've been there... I'll give you some names and ideas and info. Yes, the laws have changed. But it's not all bad, and honestly? You're not out riding on your new skidoo wearing your Prada shoes looking for an easy way out.... sh** happens and sometimes it gets awefully deep before we get to the other side...