Ask Me Help Desk - What do I do

I do not qualify for bankruptsy, I own a business and have a family trust that cannot be touched but it throws me out to qualify... My husband cannot file because when him Mom died he put the house in his name on a private mortgage before he filed it, like 6 months before and they say it will expose the house.

We owe $200,000 in debt and have a low income, $40,000 to run the business and our family - my brother-n-law and sister-n-law do not make us pay our house note at this time

I have a large judgement from MONY a company that advanced me commissions for a company that went bankrupt after we enrolled them and have seized all our bank accounts that are in my name, The other debts are from business loans and credit cards that we used to live.

If I go out and get a job they will garnish my wadges, or they won't hire me due to my bad credit, so bad it can't get any worse.

I don't know how to begin to start over, I'm at the bottem, I often think I'm better off dead, I tried that once befoe and was not successful, a year ago March, I had a 3.5M life insurance policy now it's just 1.5M... but they could pay off my debts.

How do I start over, where do I begin?? I get the run around at my attorneys office, who has sent me (us) to a property attory and my trust attorny who all say something different.

HELP>>>>>>>>>>>>>>>>

Quote:

Originally Posted by Mbell1960

I do not qualify for bankruptsy, I own a business and have a family trust that cannot be touched but it throws me out to qualify.... My husband cannot file because when him Mom died he put the house in his name on a private mortgage before he filed it, like 6 months before and they say it will expose the house.

We owe $200,000 in debt and have a low income, $40,000 to run the business and our family - my brother-n-law and sister-n-law do not make us pay our house note at this time

I have a large judgement from MONY a company that advanced me commissions for a company that went bankrupt after we enrolled them and have siezed all our bank accounts that are in my name, The other debts are from business loans and credit cards that we used to live.

If I go out and get a job they will garnish my wadges, or they wont hire me due to my bad credit, so bad it can't get any worse.

I don't know how to begin to start over, I'm at the bottem, I often think I'm better off dead, I tried that once befoe and was not successful, a year ago March, I had a 3.5M life insurance policy now it's just 1.5M.... but they could pay off my debts.

How do I start over, where do I begin???? I get the run around at my attorneys office, who has sent me (us) to a property attory and my trust attorny who all say something different.

HELP>>>>>>>>>>>>>>>>

First, if you have a past suicide attempt and feel yourself going down that road, you've got to talk to someone, a professional. The practical side of this is that it's very possible your life insurance won't pay when it's a suicide, particularly a second attempt, if they weren't advised of the first attempt or at all. The even more practical side is that one of my very best friends killed herself almost 15 years ago. Everyone who knew her carries the scars. She obviously felt she couldn't go on but she never foresaw what it would do to her family and friends - the grief, the guilt.

Second - you find ONE Attorney who is willing to look at the whole picture, trust, real estate, debts, bankruptcy law, everything. I've seen sharp Attorneys set aside irrevocable trusts when there are serious financial problems. Maybe it's possible.

And if you get a job, depending on your State, of course, your salary is subject to garnishment - but maybe some income is better than no income at this point. It's a rough economy. People are working 2 and 3 jobs.

You are certainly in a terrible place and I wish I had something wise and wonderful to say to you but I don't - other than to say I think you have to keep exploring avenues, even if many of them come up empty.

[QUOTE=Comments on this post
Mbell1960 agrees: it is a hard answer but a good one.[/QUOTE]

I hope you'll stick around, find a board you like, either ask or answer - I believe what you've been through, what you're going through, can be so helpful to other people. And when you find the answer to this problem, that experience will definitely help someone else.

And that's pretty much what it's all about, I think.

Quote:

Originally Posted by JudyKayTee

I hope you'll stick around, find a thread you like, either ask or answer - I believe what you've been through, what you're going through, can be so helpful to other people. And when you find the answer to this problem, that experience will definitely help someone else.

And that's pretty much what it's all about, I think.

great answer!

Quote:

Originally Posted by slowandeasy

great answer!

Thanks - a lot of people who ask questions have so much to give and teach (and I LOVE to learn, as do you!) that it's a loss when they don't stick around and contribute.

When people actually share their experiences in life it always touches me and I think this person has an awful lot to give.

To say nothing of the support system she'll find here.