55k in debt but I may be coming into 60k what should I do? Pay it all off? Try to negotiate and pay a reduced amount? Bankruptcy and fuck off with my 60k? I have no idea I’m open to all opinions and experiences.

I plan to apply to medical school in 2025, and I am currently in the process of entering escrow to purchase a home under my name. My father passed away last year, and my mother might need to file for bankruptcy due to the debts he owned. By the time I apply to medical school, I may or may not own the home, as we might change the name of the property and the loan to my mother's name. Will I still qualify for need-based aid even though I owned the house on the record?

I need some advice on what is the best thing for me to do. My father doesn’t speak good English, and he isn’t well educated on financial matters. Today, he went to restaurant depot to buy something, and his card was declined. When he called Bank of America, they said that he is past his credit limit and can’t spend any more money on this credit card. Tonight, he checked his bank app for the first time in 2 years and saw that he has over 40k in credit card debt in this one account. He said he pays what he owes every month, but never realized that he hasn’t paid off the whole thing because they don’t send the statement in the mail anymore. Overtime, the interest grew to 10k. 10k+30k=40k. Today, he owes 40k. He is heartbroken/angry and doesn’t know what to do. He wants to go to the bank tomorrow to negotiate for them to get rid of the interest amount by saying that he simply didn’t know. Knowing the bank system, I don’t think that would be possible. Should he file for bankruptcy? Or consolidate the debt? What is the best thing to do here to mitigate the debt. If the card didn’t decline today, this could’ve gone on another year :(

I plan to apply to medical school in 2025, and I am currently in the process of entering escrow to purchase a home under my name. My father passed away last year, and my mother might need to file for bankruptcy due to the debts he owned. By the time I apply to medical school, I may or may not own the home, as we might change the name of the property and the loan to my mother's name. Will I still qualify for need-based aid even though I owned the house on the record?

Negotiating Severance NY State
My employer has recently restructured my team and I now have a new boss. I am concerned that I might also be let go and have taken steps to protect myself.
Without giving too much information, I work for a firm that supports the restructuring of companies who have declared bankruptcy. During the corporate reorganization process, the firm must work through a judge to resolve the companies debts. In order to be granted a position as a financial advisor, the firm must declare all conflicts of interest. My firm has a lackadaisical compliance team and this task has fallen in my lap a couple of times. I have shared that I do not feel comfortable performing these conflict checks due to the absence of proper customer databases, nonetheless my firm has declared conflicts in an inaccurate way to a US court. There is a large financial penalty for performing inaccurate conflict checks in these types of cases which is why I was historically concerned and always raised this concern to my manager.
Now that I feel my role is in jeopardy, I’ve realized that this information might pose a problem for my company should it become known. If I’m laid off and there is a severance discussion, how do I go about playing this hand without coming off as blackmailing the company. I have email documentation and voice recordings corroborating my claim of inaccurate conflict checks for reference.
Thank you for any advice in advance. I appreciate any suggestions on terms of severance (duration, benefits, etc.)

I have had people telling me to go bankrupt for about half a year now and have been looking into it. I work multiple jobs but was practically unemployed for a year or so before I got my current position and stupidly put my expenses that I couldn't afford (flights for funerals, a moving van to move across the country, rent, etc.) on my credit cards thinking I would land something eventually. I have a phd and came really close to getting some super high-paying jobs (a couple final rounds for 100k+ positions) but infuriatingly just couldn't land anything. Until I got a couple low-paying jobs (a teaching position, a retail position) and just worked my ass off to pay the bills.
Per a lot of people's advice I ended up ceasing my credit card payments a month ago so I am going on month 2 being late. My plan was to meet with a bankruptcy attorney a couple weeks ago and get my bearing on next steps. I had to postpone my meeting because my cousin passed away so I went to her funeral, and then finally discussed with an attorney when I returned.
The thing is, I was also interviewing for a new position during this time and FINALLY, after like three years, got an offer for a decent industry position. It doesn't pay a ton of money, and not enough to cover my monthly credit card debts, but enough to give me a little more work-life balance and still have a studio apartment and afford my food. Obviously I accepted it.
Because it is in a new state, the bankruptcy attorney that I met with told me to wait to file until I am in my new state. He said my salary will still be under the median average income in my new state, which means I will be eligible for chapter 7, but he said I need to establish residency for 3 months before I can file there. He told me to stop paying my credit cards, to not take on any side gigs, and to just meet with an attorney there when I am close to reaching 3 months in my new apartment.
The thought of not paying my credit cards for half a year before I file is really making me nervous. Is it really okay? I am getting so many phone calls all the time after just a month and know they will only get more aggressive, especially once I default and it goes into collections. I am also really nervous about them calling my friends, family and employers. The thought of my new bosses getting a ton of calls all of a sudden about my credit card debt is making me feel pretty uncomfortable, and my parents are really struggling with the thought of me going bankrupt, so I am going to have to deal with their anxiety, as well.
Would it be worth it to try to pay my minimum balance like one more time just to keep things from snowballing out of control? Should I tell my employers about my situation? Is there anything else I should be aware of or thinking about as I make this move and try to figure everything out?
I am also getting emails from a couple credit card companies saying that I can enroll in some sort 'financial difficulty' program, but I am not sure if I should pursue this route if I am planning on going bankrupt anyway, as it feels dishonest.
I don't know, I'm a little bit of a mess and would just appreciate any thoughts or advice that you might be able to offer. Thanks so much y'all.

Context: I’m 24, currently unemployed for the past two months (actively searching for work and working with job developers), no assets and have close to 65k in debt but 25k is OSAP which I’m not worried about because they’re on pause and have no interest
Of the remaining 40k, 30k is from my student line of credit that just recently got converted into a loan. The rest credit card debt (8.7k) from three different cards, one is 6.6k the two are about 1k each
The vast majority of my debt is from funding myself through school. I worked and received OSAP but still needed the line of credit since those weren’t enough for rent and groceries.
My credit score was always excellent up until two years ago where the credit card debt started building. My cat got very sick and long story short i maxed out my 7k credit card on him (worth it, he’s healthy and happy now) and that’s where all the cc debt comes from. I’ve always made my monthly payments that are over $300 on that one cc alone but it all just goes to interest so the principal hasn’t come down much, same with all my other debts
I pay roughly $750 towards debts a month. I just can’t afford that + rent + groceries + other essentials like bus pass, phone bill and medications etc. I quit my low paying job because of an extremely toxic environment and never thought it would take me months to find literally any min wage job especially since I have a degree + leadership experience on my resume.
I’ve only made it this far without working because of what I got back from my tax refund but I have literally no more money left to pay all my debts and am considering filing for bankruptcy (I have an appointment with an LIT to seek professional advice)

I’m 30 years old with married with 2 kids. My wife is a stay at home mom so I’m the only bread winner. I currently make around $90k in the Dallas Fort Worth area. I currently have $19k in consolidation loans, $37k in credit card debt which is currently being managed by American Credit Counseling. I also have around $44k in student loan debt, all of which is through the government. The way things are sitting now, I am able to make all my payments, my wife an I have done a lot better with our budget since enrolling with American Credit Counseling, but we are one emergency away from having it run off the tracks. We own both of our cars out right, both cars are worth less than $6k each. We just resigned the lease to our house for 18 months. Part of me wants to just keep paying off the debts, especially since they have all been re-negotiated and have extremely low interest rates, a few are even at 0%. It will take around 63 months to pay off all of our consumer debts, but that leaving no cushion. The other part of me just wants to file bankruptcy, learn from my past mistakes and start over fresh. It would be nice to finally start saving for retirement, and have some savings for things like car troubles. I’ve been afraid to post this question because I’m honestly ashamed at how bad the debt became.
Edit: I forgot to add I’ve spoken to an attorney,they said I qualify based on my income and debt and they made bankruptcy sound amazing, almost to amazing.

29(m) with about 14k in debt. Seasonal worker (pesticide technician). Made alot of bad mistakes in my 20s. Credit sucks. Have been starting to invest and been reading up alot on everything then all of a sudden, i get hit with a 9.5k collection that can not be paid even if i wanted to. I've been stressing alot, I'm smart enough to know the credit is already shot again. As I'm fixing everything of course. I spoke with a Bankruptcy attorney and he told me paying him $1.8k to rid of my 14k is probably my best bet. My dad is against it saying it'll run my CR and housing/car prospects for years. The attorney also made it seem like if i choose him it's basically guaranteed to be approved.
My question is, should I do this? Is it hard to be approved? Will it ruin me?

Hi Bankruptcy,
I currently live in California, and I was wondering what would be my best option between declaring bankruptcy and debt relief.
In summary, I have been scammed by Sochi, a masseuse school (I am only including it so you can be aware of their fraudulent behaviour). They created a fake high school diploma for me in order to reap the rewards of having access to a government loan, which cost me roughly 16K.
Additionally, I have also been in a car accident a few years ago. I am not certain of the nature of the accident, as in, I am not certain if it was officially declared criminal. In short, the other vehicle swerved purposefully in our lane and front ended us, and I was not the driver, so I definitely was not considered at fault. However, the accident caused me to be hospitalized for a total of 6 to 8 months. I was insured at the time, but due to the Californian law protecting the hospital from disclosing what can and cannot be covered by my insurance, I ended up with a bill totalling over 100K.
And finally, I have three small debts of roughly 3K total with different banks. Tl;dr: I wasn't able to pay them back because I was in the hospital.
Overall, I am thus looking at a crippling debt of 120K give or take.
Here is where I really need advice:
1) My current plans involve moving to another country to make a life with my partner. 2) If I get married to my partner, would my debt impact them as well, even though it would be in another country? And if so, how would it impact them? 3) Due to wanting to be there sooner rather than later, I have about a year and a half to clear my current debt situation. 4) I currently do not own a house or a car, and I have no dependants. 5) My credit score is currently completed ruined.
I am leaning strongly towards the bankruptcy route due to not owning any valuable assets, so my main questions specifically tied to bankruptcy are:
6) What kind of chapter would I have to sign for? 7) Does anyone know a good lawyer they could recommend in the Los Angeles county? 8) How much would it realistically cost me in court / lawyer fees? 9) How long does the process take, i.e. could it be resolved within a year's time?
I am still open to the idea of taking the debt relief option, but none of my current plans require for me to have credit. I am nowhere near having a down payment for a house, so I don't plan on acquiring a mortgage in the coming decade, and I could technically buy a used car with cash.
Thank you in advance for the help, I'm currently at a loss as to what should be my next step in this.

Long story short, life got in the way and I found myself unemployed (film industry is terrible at the moment) and have racked up about $20,000 in credit card debt across three cards as well as a personal loan from a stupid financial decision a few years back with about $13,000 left.
My monthly payments total about $1500 and I’m absolutely drowning. I’ve been trying to pick up a part-time job, but being in college makes it super difficult to find a regular part time that makes enough to cover my payments on top of my already meager living expenses.
I’ve been considering options like reaching out to a debt relief company or even bankruptcy, but would like some advice on what to do first. Please help me :(

In the annals of gaming history, few titles command the reverence and adoration as the legendary Doom franchise. Born from the minds of John Romero, John Carmack, Adrian Carmack, and Tom Hall, Doom would go on to lay the foundations for just about every modern video game that exists. It was a true tour de force, a success story few could scarce ever imagine.
Released in 1993, Doom was an immediate smash hit, thanks in no small part to its shareware format, which allowed users to experience the first few levels of Knee Deep In the Dead, and then order the full game via the phone number included. Players could then share the floppy disk with their friends, and so on, and so on. It was a truly revolutionary system, and within a single year, Doom had sold over 2 million copies.
The history of the Doom franchise is one of innovation, ultra violence, and controversy (1999's Columbine High School Massacre), and that reputation is one that continued with 2016's DOOM. DOOM was officially revealed at Quakecon 2014, ten years after Doom 3. Players had long resigned to Doom being considered a dead franchise. A reboot had been in the works for a number of years prior, but never got released, having been quietly cancelled by id in 2010. The future was bleak, but the 30 second long teaser ignited a spark that had been burning dimmer every passing year.
Then came E3 2015.
The hype was unreal. The trailer had everything that fans could possibly want. Gore, intense violence, insane run n gun gameplay, a rip-roaring soundtrack and the MFING CHAINSAW. But fans had been let down before. Would it really hold up its promises?
Yes. Yes, it would.
PART I: Presentation
When DOOM burst onto the scene in 2016, it did so with a visual and auditory spectacle that left players awestruck. From the moment the game boots up, players are made aware that this is not your average shooter. You are greeted with a deep, commanding voice. "Rip and tear, until it is DONE."
Immediately, players are greeted with a scene of carnage and the Doom Slayer chained to a table, which, of course, he instantly breaks free from. A zombie attempts to relieve the Slayer of his life but is beaten to the punch with a prompt skull smashing. After putting the other zombies to rest, he interacts with the panel in the corner, is greeted by one Dr. Samuel Hayden, who attempts to justify the outbreak, and decides he would rather kill shit than listen to excuses and destroys the monitor.
That is the introduction to this game. It never wastes the player's time. We aren't here to listen to long droning monologues or watch MGS style cutscenes. id Software knew their audience, and knew what that audience wanted, and they deliver in spades. This introduction sets the tone for the entire experience: relentless action, unapologetic violence, and a protagonist who is as unstoppable as he is uncompromising. The Doom Slayer's disdain for exposition and his single-minded focus on annihilating demons resonate with players who crave a pure, unadulterated gaming experience.
By eschewing lengthy cutscenes and exposition-heavy dialogue in favor of fast-paced gameplay and visceral action, id Software delivers a game that respects the player's time and delivers exactly what they came for: non-stop demon-slaying action. In an era where many games are criticized for padding their runtime with unnecessary filler, DOOM stands out as a shining example of how to create a focused and engaging experience that keeps players coming back for more.
Rather than bombarding players with lengthy exposition or intrusive cutscenes, DOOM opts for a more environmental storytelling approach. Throughout the game, players can discover audio logs, read text-based terminals, and observe environmental details that provide context and background to the events unfolding around them.
The story of DOOM revolves around the Doom Slayer's mission to stop a demonic invasion unleashed by the Union Aerospace Corporation (UAC) on their Martian facility. As players progress through the game, they uncover details about the UAC's experiments with Hell energy, the origins of the demonic invasion, and the Doom Slayer's own mysterious past.
While the story may not be front and center in DOOM, it nonetheless adds depth and richness to the game world, enhancing the overall experience for players who choose to engage with it. And for those who prefer to focus solely on the action, the story remains secondary, allowing them to enjoy the game on their own terms.
That's all well and good, but what about the actual gameplay? Simply put, it is exhilarating. From the moment you are given control of the Slayer, players are thrust into a frenzy of blood and violence, and it never lets up. At its core, DOOM is a first-person shooter that harkens back to the genre's roots while injecting it with a healthy dose of modern flair. The gameplay is fast-paced, frenetic, and utterly unapologetic in its brutality. You're not just a player – you're the Doom Slayer, a force of nature hell-bent on eradicating every last demon in your path.
Central to the gameplay experience is the game's combat loop, which revolves around a delicate balance of aggression and strategy. In DOOM, there's no hiding behind cover or waiting for your health to regenerate – you're constantly on the move, strafing, dodging, and leaping across the battlefield as you unleash a torrent of bullets, rockets, and plasma upon your enemies.
Weapons include the iconic shotgun, heavy assault rifle, plasma rifle, rocket launcher, and the devastating BFG 9000, among others. Each weapon offers different firing modes, such as single shot, burst fire, and continuous beam, providing players with tactical options in combat. A key aspect of combat is the Glory Kill system, which allows players to perform brutal finishing moves on staggered enemies. Glory Kills not only provide health and ammo but also contribute to the flow of combat by encouraging aggressive play. It is incredibly satisfying to watch the Slayer rip an imp in half or stomp their head into the pavement, and doing so rewards you with a large return of health.
The Chainsaw mechanic is another integral part of combat, allowing players to instantly kill most enemies and gain a large amount of ammo in return. However, Chainsaw fuel is limited and must be managed carefully. Like Glory Kills, watching the chainsaw tear demons apart is incredibly satisfying. Certain demons require more fuel but provide the player with more ammo in return. Balancing which demons you chainsaw and which ones you choose to Glory Kill is an important part of combat.
Exploration is key to progression and is rewarding to those players who choose to do. Hidden throughout the levels of the game are Argent Cells, Praetor Tokens, and Rune Trials. Each of these provide upgrades to your health/shield/ammo, suit, and passive abilities respectively. Also hidden throughout the game are levers that lead you to classic levels from Doom 1 and Doom 2, which then unlock the full level of its respective game, playable from the main menu. You can also find toy models of the Doom Slayer, which unlock various character models to view. On some of these models, the Doom Slayer will perform a unique action when picking it up, such as fist bumping the classic Doomguy. It's a nice and cute little touch added by the developers that does a little to add character to the Slayer, who is a silent protagonist.
id Software masterfully blends modern game design with a deep reverence for the classics, paying homage to the series' storied history while introducing new elements that propel the franchise forward. Central to this approach is the game's character design, which strikes a delicate balance between nostalgia and innovation. At its core is the iconic protagonist, the Doom Slayer, whose design pays homage to the original Doom Marine while incorporating modern updates that make him feel both familiar and fresh. With his battle-worn armor, imposing stature, and silent demeanor, the Doom Slayer is the embodiment of raw power and unrelenting rage.
The game's roster of enemies is a veritable who's who of classic Doom foes, reimagined for the modern era. From the lowly possessed soldiers to the hulking Cyberdemon, each enemy is lovingly crafted to capture the essence of its 1990s counterpart while introducing new mechanics and behaviors that keep players on their toes. Whether you're facing off against the agile Revenants, the relentless Hell Knights, or the grotesque Cacodemons, every encounter is a nostalgic trip down memory lane, punctuated by the satisfying sound of demon flesh being torn asunder.
But the main story is not where it ends. DOOM has an arcade mode, where players can run through the levels again, this time trying for high scores and medals while collecting 1 Ups. It's important to move fast and have accurate aim; the more kills you chain together, the bigger your score is. Getting hit reduces your score. At the end of the level, your score is tallied against others on a leaderboard. It's a great way to incentivize players to keep playing, in order to get a better and better score.
There is also multiplayer, where players compete in various game modes such as classic deathmatch, warpath and free for all. Players can become demons by collecting runes on the battlefield and this gives them a distinct advantage; demons are larger, stronger and more resilient. Players are bizarrely restricted to only two weapons and a loadout in multiplayer, which blew my mind. Loadouts. In a DOOM game. The demons are also massively unbalanced and if one team manages to get a particularly powerful demon such as a baron of hell, then it's a guaranteed win. All in all, the multiplayer just isn't great. You are better off replaying the story or arcade mode, or even SnapMap.
SnapMap is id Software's proprietary level editor, and it puts every other editor on the market to shame. SnapMap is an incredible, intuitive, easy to learn system allowing players to create their own multiplayer, co-op and single player maps. There is an extensive tutorial system that teaches users the basics, and goes up in depth, covering how to use AI triggers, switches, combinations, object layering, actions, recalls, audio cues, etc. Never have I ever seen such an in-depth interface on a console game before. While it is only surface level in the grand scheme of things, SnapMap is a great introduction to teaching users how game development works, and I urge everyone to try it out at least once.
Part II: The Music
In DOOM, the music isn't just a background accompaniment – it's a driving force that propels players forward, electrifying every moment of the gameplay experience. Composed by the incredibly talented Mick Gordon, the soundtrack of DOOM is a relentless onslaught of metal and electronica that perfectly complements the game's fast-paced action and visceral combat. From the moment you boot up the game, you're greeted by the iconic strains of the main theme, a haunting melody that sets the tone for the epic journey that lies ahead. As you traverse the game's environments, the music shifts seamlessly between atmospheric ambience and pulse-pounding metal.
But it's not just the composition of the music that makes it so memorable – it's also the way it's integrated into the gameplay itself. Mick Gordon's dynamic scoring system ensures that the music evolves in real-time based on the player's actions, ramping up in intensity during combat encounters and dialing back during quieter moments of exploration. This creates a sense of momentum and flow that enhances the overall pacing of the game
One of the standout features of the soundtrack is its use of unconventional instrumentation and sound design. Mick Gordon's signature sound combines distorted guitars, pounding drums, and industrial noise to create a sonic palette that is as brutal and unforgiving as the game itself. From the deep, guttural growls of the synth bass to the ear-shredding shrieks of the guitar solos, every element of the music is designed to evoke a sense of chaos and destruction, mirroring the relentless carnage unfolding onscreen.
Of course, no discussion of the music in DOOM would be complete without mentioning the iconic tracks that have become synonymous with the game. From the adrenaline-fueled "Rip & Tear" to the bone-crushing "BFG Division," each track is a masterpiece of composition and production, perfectly capturing the essence of the DOOM experience and elevating it to new heights. Mick Gordon's composition for the DOOM soundtrack is a tour de force in heavy metal and industrial electronica, meticulously crafted to evoke the essence of the game's frenetic gameplay.
The backbone of the soundtrack is the distorted guitar, which provides the driving force behind many of the tracks. Gordon's use of extended-range guitars and custom-tuned instruments gives the music its signature low-end punch, while his aggressive playing style adds a raw, visceral energy to the sound. In addition to guitars, Gordon incorporates a wide range of electronic and synthetic elements into his compositions, including synthesizers, drum machines, and sampled sounds. These elements are used to create atmospheric textures, rhythmic patterns, and dynamic effects.
One of the most innovative aspects of Gordon's sound design is his use of audio manipulation techniques, such as granular synthesis and spectral processing. These techniques allow him to deconstruct and manipulate audio in real-time, creating complex textures and effects.
Perhaps the most revolutionary aspect of Mick Gordon's composition for DOOM is his dynamic scoring system, which adjusts the music in real-time based on the player's actions. This system, known as "MIDI-controlled dynamic music," allows the music to seamlessly transition between different layers and variations depending on the intensity of the gameplay. Gordon achieves this dynamic effect by dividing each track into multiple stems or layers, each representing a different element of the music (e.g., drums, guitars, synths). These stems are then triggered and mixed in real-time using MIDI data generated by the game engine, allowing the music to adapt and evolve dynamically as the player progresses through the game.
Part III: Building a Legacy
All too often in this industry, legacy franchises are either left in the dust to be forgotten, or brought back to a limp fanfare, only to be thrust back into the shadows of the past. This happens for a myriad of reasons, and I believe the biggest one is that they don't respect their legacy, and they don't respect the players who engage with them.
At its core, DOOM is a game that understands what players want: fast-paced action, engaging gameplay, and a sense of empowerment. By focusing on these core principles, id Software created an experience that resonated with players old and new, capturing the spirit of the original games while pushing the series forward. Central to this approach is the game's unwavering commitment to respecting the player. From its minimalist storytelling and streamlined level design to its intuitive controls and dynamic difficulty system, DOOM prioritizes the player's experience above all else, ensuring that every moment of the game is engaging, immersive, and satisfying.
One of the most notable ways that DOOM respects the player is through its approach to difficulty. Rather than imposing artificial barriers or punishing players for their mistakes, the game encourages experimentation and mastery through its responsive gameplay mechanics and adaptive enemy AI. Players are given the freedom to approach encounters in their own way, whether it's through brute force, cunning strategy, or a combination of both.
Another key aspect of DOOM's player-centric design is its emphasis on accessibility. From its difficulty settings and intuitive user interface to its robust accessibility features, such as colorblind modes and customizable controls, the game ensures that players of all skill levels and abilities can enjoy the experience without feeling excluded or overwhelmed.
But perhaps the most important way that DOOM respects the player is through its commitment to fun. At its core, DOOM is a game that prioritizes the player's enjoyment above all else, delivering a seamless and exhilarating experience that keeps players coming back for more. Whether you're blasting demons with a shotgun, exploring hidden secrets, or rocking out to Mick Gordon's pulse-pounding soundtrack, DOOM is a game that never stops prioritizing YOU.
DOOM's legacy is one of respect – respect for the player, respect for the franchise, and respect for the medium of video games as a whole. By prioritizing fun, accessibility, and player agency, id Software created an experience that not only honors the legacy of the original games but also sets a new standard for what a modern first-person shooter can be. And for that, we owe them a debt of gratitude.

A friend filed for chapter 7 and had her debt discharged last year, mainly due to gambling debt. Now she is trying to get back on her feet and applying for jobs. She is fully aware that most employers will conduct a background and credit check before clearing a candidate for employment.
How should she explain the bankruptcy to the employer? Many forums advise being upfront about it and briefly explain the reason why there were financial difficulties - the problem is that they all benignly assume that the leading causes are medical debt or divorce.
What would you do if you are in her shoes? Do you be truthful and risk never finding a job, or do you lie about the circumstances so you can get your career back on track?

Long story short I’m close to $200k in credit card and personal loan debts. I bring home $10450 monthly with my job and veteran disability.
I will probably need to do a chapter 13 because I did the means test online and I don’t qualify for a chapter 7 with my job income. I had a business that failed and I used my personal credit to fund it. I’ve been robbing Peter to pay Paul for a while. So currently I’m not behind on any payments, but I just can’t keep up with them anymore. One of the methods I was using PayPal myself from a credit card with the available balance so I could pay another credit card. But all my cards are maxed out at this point. After reading some, I didn’t even know I wasn’t supposed to be doing that.
There’s a couple things I’m wondering with a chapter 13.
Will I be able to keep my Home and car? Since I’m not behind any payments, do I need to just stop paying? How many months does the courts look at bank statements?
I did reach out to credit counseling and they referred me to bankruptcy. For a while, I knew this was the route I needed to go. I just was scared. Have a meeting with the lawyer this week. I probably need to consult with more than one lawyer.

Im 50 years old. My debt is growing. I’m now late on all my credit cards and bills. I have zero money. Credit cards are maxed over $20,000, bank accounts are zero and I have no incoming money until I start hustling again. I am not the same person as I was. I’ve been sick for a while, but this time around I just can’t multitask physically or mentally like before. I am self employed. I didn’t work for 8 days due to illness. I’m usually able to pull myself together and make some money to make ends meet. But this time, my body just would not let me this time. I’m falling behind in debt. I can’t shuffle money and credit to get through this month this time. It even came to the point of taking out advance payday loans to pay my car payment and rent. I’m now struggling to pay my priority bills.
I have options. I looked into 3.
I can call all my credit cards and ask for a financial hardship program. I did call some and they offered a lower interest rate. They offered a lower monthly payment and closure of my cards. If all of them do this, I might be able to cover the monthly for each card. I won’t have anymore active credit cards and will live off of cash. I believe my credit score will sink.
I also called a non profit debt management. Green Path Financial Wellness. They will call all my credit cards too. They will negotiate a low interest rate and lower payment. They gave me an estimate. It looks like I’ll pay them $600 a month payment and they will pay each card for me. I will also pay a one time $85 fee and $28 a month for their service. My cards will be closed and it will take 2-3 years to pay off. If I can work hard I think this is doable.
Other option chapter 7 bankruptcy. All CC debt gone. Clean slate. But 10 years BK on record.
Any advice on what to do? Best option. If anyone did the financial hardship programs on their own or used Green Path Financial Wellness debt management please share your experience. Or filed bankruptcy.

My wife and I recently moved in with a family member that has been needing help because of declining health. They have received social security disability, but because of some clerical errors are still waiting on medicaid.
Just last week our family member ended up in the hospital still with no insurance and has been in the hospital and no one is sure if he'll come out.
We were asked to move in to help because they knew their health was getting worse and that we were also looking to buy a house and in their will they have a transfer on death deed that goes to us and in the will we inherit everything since we've been the only family members to help out, but we have the concern that since they still don't have insurance, will medicaid, as they are only in their 50s doesn't qualify until 2 years for Medicare, that this hospital trip could bankrupt him if medicaid doesn't cover claims during the application process since the agent they were working with flipped their name on the application, so it got rejected.
Our question is, if our family member does have to file for bankruptcy or if they pass away before medicaid gets accepted, what are our options for protecting the house because otherwise we need to line up fallback plans.
If this isn't the right sub, if you could point me to a sub or resource that could help us, please let me know.
I'll be happy to answer any questions that I know the answers too.

I feel like I’m out of options
Hello everyone,
This may be a long post and I’m sorry in advance. If this isn’t the best spot to post please let me know. I (30F) was a caregiver for my mom pretty much since I was 10. I didn’t learn anything about personal finance or any “adult bills”. My mom was on a housing voucher so no rent and the monthly bills were paid with her disability check. I didn’t think of everything that was involved in all of this.
Fast forward to last year, my mom passed away and I was pushed into “adulting” full time all on my own. I’ve made many mistakes financially and I’m not sure how to get out of this debt cycle. I make good money for a single person (over 70k in a southern state) but still living paycheck to paycheck and tragically in a heap of debt (over 40k).
I’m thinking of filing bankruptcy for a clean slate. Between rent, car payment, insurance, utilities bills, and credit card payments, I have $0 left over every check. I’m super stressed out. It’s hard enough mourning and the additional financial stress is killing me.
Would bankruptcy be a good idea or is there something else I can do?
Edit to add:
Monthly take home is about $3700.(I work for the federal government so my take home is a lot less than usual) I said less in a previous comment since my loans are taken out automatically.
Rent + add ons- $1630
Car payment is $586.60 apr 13.56% bal: $16,858.24
Credit card #1- min $25 limit $400 balance $280 apr 28.15% (my first and longest credit line)
Credit # 2- minimum $160 limit 1600 balance 1849.58 Apr 28.74 (used to cover my moms funeral expenses)
Credit #3- min $20 apr 18% limit $500 balance $400
Loan #1- minimum $136.16, apr 4% bal $2766.28
Loan #2- min- 302.56 apr 3% bal 4457.91
(These loans are through my 401k and taken out from my take home pay automatically biweekly half of monthly ofc)
Insurance (car, renters, valuables)- 290.04
Phone bill- $220/m (making payments on a phone once it’s paid off my sister will take over my nieces line)
Just realized my other card is closed for no payment so I’ll worry about that later. I think that’s pretty much it.
Edit# 2- I have $20k in student loans but they are in forbearance until 2026 because the provider changed. My job will pay $10k of the balance this year and 10k next year so I didn’t add it in monthly even though I was paying it.

Me again! Curious if anyone knows if it's better to take the credit card company's (Chase Bank) settlement offer (which I asked for, and it was a good offer), or wait for "charge-off" and work with the collections agency and ask to settle with them? The reason I am wondering (and this has been mentioned before here) is that Chase said they "may" report part of the debt (the balance after settlement) to the IRS as income. Obviously I don't want that. Will a collections agency do the same? Since my credit is already crap with this, having a charge-off and going to a collections agency won't really matter credit-wise (I don't think). What would you guys do? Second part of question: is a charge-off as bad as a bankruptcy? TIA!!!

I fucked up made a terrible mistake. I 22F became really close to another 22F. Like two peas in a pot.
The problem started beginning of last year but I was dealing with my own issues that I didn’t have the mental space or maturity to seek for help. Beginning of 2022 I co-signed for a friend. I know. Anyways now I’m in my first real life adult fuck up because she became a druggie and simply stopped caring. We financed it in Washington state beginning of 2022. Everything was fine till the beginning of 2023. It started off with late payments she doesn’t have an excuse because we were getting around the same paycheck since we were both the same rank in the military.
WHAT SHE WAS DOING W/ HER MONEY IDK. I felt so stressed I actually talked to a superior about it. We tracked her down at work and turns out she was actually in the process of being kicked out the military. Pretty sure she popped for coke.
Scary. Now I knew she was out the door to basically ghost me and the problem of the vehicle. Now easy I was just going to take the car from her even though I was going through some bs myself but preferred to struggle with two car payments than keep dealing with her and the recurring late payments. Then she tells me it got towed in Oregon state. Okay. Around this time she had lost significant weight probably a 30lb difference within almost 2 weeks. She also began ghosting my calls and messages for days. This became the beginning of a her actually ghosting me and blocking me on her social medias.
Fast forward, I find the city and look up the plates for the car. Towing company tells me they don’t hold on to cars for that long and it’s been sent to auction. That’s around the time I started making the payments FEB2023. I was so scared of my credit score falling because I was looking for an apartment at the time. Then it became easier to ignore the problem and keep paying but now I don’t care anymore. It’s $271 that I don’t want to keep paying. I no longer care about burning my credit. I was watching videos on how bankruptcy works this morning but that seems too extreme for my situation. The total debt is around $12000. Please anyone know what my options?
This is the situation I wish I could take time back but I can’t. I need advice.

Effective receivable management has long been a critical component of a business's financial health and success. However, traditional approaches to managing accounts receivable often face significant challenges that can hinder a company's ability to maintain a healthy cash flow and optimize its financial operations. One of the primary issues with traditional receivable management is the reliance on inefficient manual processes and data silos. Many organizations still rely on paper-based invoicing, manual data entry, and disparate systems to track and manage outstanding invoices. This lack of integration and automation can lead to errors, delays, and a lack of visibility into the overall receivable landscape.
Another key challenge is the difficulty in tracking and managing outstanding invoices. Without a centralized and streamlined system, it can be challenging for finance teams to maintain a clear understanding of which invoices are due, overdue, or at risk of becoming delinquent. This lack of visibility can make it challenging to prioritize collection efforts and proactively address potential cash flow issues. Additionally, the time-consuming and labor-intensive nature of debt collection efforts can further strain resources and impact the overall efficiency of the receivable management process.
Furthermore, the lack of visibility into cash flow and customer payment patterns can hinder a company's ability to make informed financial decisions. Without access to comprehensive data and analytics, it becomes increasingly difficult to forecast cash flow, identify potential risks, and develop effective strategies to improve receivable management. This lack of data-driven insights can lead to suboptimal decision-making and missed opportunities to optimize the receivable process.

Key Takeaways

• Traditional receivable management poses challenges for businesses
• Automation can improve invoicing and billing efficiency
• Data analytics can enhance cash flow forecasting
• Self-service portals can enhance customer experience
• Integrating receivable management with accounting platforms can streamline processes

Embracing Automation for Efficient Invoicing and Billing

To address the challenges of traditional receivable management, businesses are increasingly turning to innovative solutions that leverage automation and technology. One of the key areas where automation can have a significant impact is in the invoicing and billing process. Automated invoice generation and delivery can streamline the process, reducing the risk of errors and ensuring timely and accurate invoicing. By integrating these automated systems with payment processing and reconciliation, companies can further enhance the efficiency of their receivable management.
Customizable payment terms and reminders can also play a crucial role in improving the overall receivable process. By offering flexible payment options and proactively sending payment reminders to customers, businesses can encourage timely payments and reduce the likelihood of late or missed payments. This not only improves cash flow but also enhances the customer experience by providing a more convenient and seamless payment process.
Improved collaboration and communication with customers is another key benefit of embracing automation in receivable management. By integrating self-service portals and online payment options, businesses can empower their customers to access account information, initiate payments, and resolve disputes more efficiently. This not only reduces the burden on customer service teams but also fosters stronger relationships with customers, leading to improved loyalty and satisfaction.

Leveraging Data Analytics for Improved Cash Flow Forecasting

In addition to streamlining the invoicing and billing process, innovative receivable management solutions also leverage data analytics to provide businesses with valuable insights and improve cash flow forecasting. By aggregating comprehensive data from various sources, including customer payment history, outstanding invoices, and industry benchmarks, these solutions can offer a holistic view of the receivable landscape.
Through the application of predictive models and advanced analytics, businesses can gain a deeper understanding of their cash flow patterns and potential risks. This enables them to make more informed decisions regarding credit policies, collection strategies, and financial planning. By identifying payment trends and potential delinquencies, companies can proactively address issues and take appropriate actions to mitigate the impact on their cash flow.
The insights gained from data analytics can also inform strategic decision-making, allowing businesses to optimize their receivable management processes and align them with their overall financial objectives. This data-driven approach can lead to improved cash flow forecasting, better resource allocation, and more effective financial planning, ultimately enhancing the company's financial resilience and competitiveness.

Enhancing Customer Experience through Self-Service Portals

Innovative receivable management solutions not only streamline internal processes but also focus on enhancing the customer experience. One of the key ways this is achieved is through the implementation of self-service portals, which provide customers with 24/7 access to their account information and payment options.
By empowering customers with self-service capabilities, businesses can reduce the burden on their customer service teams and improve overall customer satisfaction. Customers can access their account details, view outstanding invoices, initiate payments, and even resolve disputes through these online portals, without the need for direct interaction with the company's finance or collections teams.
This enhanced customer experience can have a positive impact on customer loyalty and retention. When customers are able to manage their accounts and payments conveniently and efficiently, they are more likely to maintain a strong relationship with the business. Additionally, the availability of online payment options and dispute resolution channels can further improve the customer experience, leading to increased customer satisfaction and a stronger brand reputation.
Furthermore, the integration of self-service portals with the overall receivable management system can provide valuable data and insights. By analyzing customer behavior and preferences within the portal, businesses can identify opportunities to optimize their processes, tailor their communication strategies, and better meet the evolving needs of their customers.

Integrating Receivable Management with Accounting Platforms

Metrics	Results
Days Sales Outstanding (DSO)	Reduced by 20%
Collection Effectiveness Index (CEI)	Increased by 15%
Bad Debt Expense	Decreased by 25%
Customer Satisfaction	Improved by 30%

Effective receivable management requires seamless integration with a company's overall accounting and financial systems. Innovative solutions in this space recognize the importance of this integration and offer capabilities that enable a truly holistic approach to financial management.
By synchronizing data between the receivable management system and the accounting platform, businesses can achieve real-time updates and ensure the accuracy of financial reporting and reconciliation. This integration eliminates the need for manual data entry and reduces the risk of errors, ultimately improving the efficiency and reliability of the financial processes.
The benefits of this integration extend beyond just the finance team. By providing a unified view of financial data, the integration between receivable management and accounting platforms can foster improved collaboration between finance and operations teams. This enhanced collaboration can lead to better decision-making, as both teams have access to the same accurate and up-to-date information.
Moreover, the integration of receivable management with accounting platforms can streamline the overall financial reporting and analysis process. With a centralized and synchronized data source, businesses can generate more accurate and comprehensive financial reports, enabling them to make more informed decisions and better align their receivable management strategies with their overall business objectives.

Mitigating Risks with Intelligent Debt Collection Strategies

Effective receivable management not only involves streamlining the invoicing and billing processes but also proactively addressing potential delinquencies and mitigating the risks associated with outstanding debt. Innovative solutions in this space are leveraging intelligent debt collection strategies to enhance the efficiency and effectiveness of the collections process.
One of the key features of these solutions is the automation of dunning and follow-up processes. By automating the generation and delivery of payment reminders, businesses can ensure that customers are consistently and promptly notified of upcoming due dates and outstanding balances. This proactive approach can help prevent late payments and reduce the likelihood of delinquencies.
Furthermore, these solutions often incorporate customized communication strategies based on customer profiles and payment histories. By tailoring the tone, frequency, and channels of communication, businesses can improve the effectiveness of their collections efforts and foster stronger relationships with their customers. This personalized approach can lead to better customer engagement, increased payment compliance, and reduced write-offs.
The integration of predictive analytics and risk assessment models within these intelligent debt collection strategies also plays a crucial role in mitigating potential risks. By identifying patterns and early warning signs of potential delinquencies, businesses can take proactive measures to address these issues before they escalate. This data-driven approach enables more informed decision-making and the implementation of targeted collections strategies, ultimately improving debt recovery rates and reducing the financial impact of write-offs.

Optimizing Receivable Processes with Robotic Process Automation

As businesses continue to seek ways to streamline their receivable management processes, the adoption of Robotic Process Automation (RPA) has emerged as a powerful solution. RPA technology allows for the automation of repetitive, high-volume tasks, freeing up employees to focus on more strategic and value-added initiatives.
By integrating RPA into their receivable management workflows, businesses can achieve significant improvements in efficiency and accuracy. Automated tasks such as invoice generation, data entry, payment processing, and reconciliation can be executed with speed and precision, reducing the risk of human error and ensuring consistent execution of these critical processes.
The implementation of RPA also has the added benefit of scalability. As a business's receivable management needs evolve, the RPA-powered solutions can adapt and scale accordingly, without the need for extensive manual intervention or system overhauls. This flexibility allows companies to maintain a high level of operational efficiency, even as their business grows and the volume of receivables increases.
Moreover, the adoption of RPA in receivable management can have a positive impact on employee morale and job satisfaction. By automating the repetitive and time-consuming tasks, employees are able to redirect their efforts towards more strategic and fulfilling work, leading to increased job satisfaction and improved overall productivity.

Harnessing the Power of Artificial Intelligence for Predictive Insights

The integration of Artificial Intelligence (AI) and machine learning algorithms into receivable management solutions has the potential to revolutionize the way businesses approach this critical function. By leveraging the power of predictive analytics and pattern recognition, these innovative solutions can provide businesses with valuable insights and recommendations to optimize their receivable processes.
One of the key applications of AI in receivable management is the ability to identify and predict potential payment risks. Through the analysis of historical data, customer behavior patterns, and industry benchmarks, AI-powered solutions can detect early warning signs of potential delinquencies and proactively alert businesses to take appropriate action. This predictive capability enables companies to be more proactive in their collections efforts, reducing the likelihood of write-offs and improving overall cash flow.
Furthermore, AI-driven solutions can provide personalized communication and payment recommendations to customers. By analyzing individual customer profiles and payment histories, these solutions can suggest the most effective communication channels, payment terms, and reminders tailored to each customer's preferences and payment patterns. This personalized approach can lead to improved customer engagement, increased payment compliance, and enhanced overall customer experience.
The continuous learning and optimization capabilities of AI-powered receivable management solutions also play a crucial role in driving continuous improvement. As the system processes more data and learns from the outcomes of its recommendations, it can adapt and refine its strategies, leading to increasingly accurate predictions and more effective receivable management practices. This self-learning and optimization process allows businesses to stay ahead of the curve and maintain a competitive edge in their industry.

Achieving Operational Excellence in Receivable Management

Effective receivable management is not just about implementing the latest technological solutions; it requires a holistic and integrated approach that aligns with the overall business objectives. To achieve operational excellence in receivable management, businesses must adopt a comprehensive strategy that encompasses people, processes, and technology.
At the core of this approach is the implementation of a centralized and integrated receivable management system that seamlessly connects all the relevant components, from invoicing and billing to collections and reporting. By breaking down data silos and fostering cross-functional collaboration, businesses can gain a unified view of their receivable landscape and make more informed decisions.
Alongside the technological advancements, businesses must also cultivate a culture of continuous improvement and innovation within their finance and operations teams. This involves regular performance reviews, the establishment of key performance indicators (KPIs), and the implementation of feedback loops to identify areas for optimization. By empowering employees to contribute to the improvement of receivable management processes, businesses can foster a sense of ownership and drive sustainable change.
Ultimately, the pursuit of operational excellence in receivable management requires aligning these efforts with the overall business objectives. By integrating receivable management strategies with the company's financial planning, risk management, and customer experience initiatives, businesses can ensure that their receivable management practices are in sync with their broader strategic goals. This holistic approach enables businesses to maximize the impact of their receivable management initiatives and drive long-term financial success.