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My brother is looking into filing bankruptcy, is that bad?

My brother has over 97,000 dollars in personal student loans, plus 60,000 in credit card debt, all accrued during college. All his debt was due to him paying for studnt supplies, tuition ect. He now has a good paying job, however his salary does not come close to covering his loans and credit card payments. He has mentioned filing bankruptcy as he can’t pay rent, utilities ect and tjhe other payments. I told him to contact a credit counseling group, and when he did they told him to get a second job, which his work schedule will not allow for. I don’t want to see him make a mistake, any tips?
I feel bad for him, he is a good kid. He got great grades, but his HS college couselor did not assist very much in helping kids with their options, she really pushed all the kids to join the army or something to that effect. He worked his butt off in college and now has a great job with the leading company in his field. There is NO time for him to take another job, he works 7 days a week right now, and often has to travel for work. If bankruptcy is his only option, fine, I just don’t want him to get pushed in the wrong direction, and me being the big sis….he always hits me for advice! THANKS!!
He does not live a big spending lifestyle. He lives with me. I feed him, help him with money when he is really short, ect. He tries to give me money when he can, however his paychecks are literally GONE with student loans/credit payments. I would not help him if he were living it up and not reponsible. However, this kid is really struggling and I don’t know how else to help him.

How bad will this affect my credit?

I want to begin by saying I do not want a solution for this problem! I am asking how bad this will hurt my credit..not how to fix it. (not saying I’m not going to try)

To make a LONG story short, there is one bill on a line of credit that my husband and I can’t afford. It’s $540 a month! I know that we can’t pay it, and for you solution givers out there, I’d like to tell you that I am only here to find out how bad it will hurt our credit!! =)

QUESTIONS:
*So, if we do not pay it, (the total amount of this line is $26,000) then what will happen to our credit? (in point value perhaps)

*Will it help any that we are paying the rest of our payments on time in other areas? (ex. car, other credit bills, student loans etc.?)

*What’s the worst thing that could happen?

THANKS! Oh one more thing..we do not own a home, and have no intent to buy for at least 3 more years due to personal reasons. Also, we are NOT using any other credit cards, only paying back what we owe!:)

Living on Student Loans..???? HELP..ADVICE?

I work full time at a hospital (3 12 hour shifts a week) but I am going to school full time. I live on my own, pay bills on my own.
My bills are as follows:
rent-450
electric-100-130
water-65
car insurance- 80
cell-105-130
cable-35
internet-20

i work 35 minutes away from home, and school is 15 minutes away, so i fill up about twice a week, spending probably 120 dollars a pay on gasoline, more if i go to my visit my parents 20 minutes away..

I am just taking prereq’s right now and I have classes every day but Friday and Sundays.. pretty much all day long.
It’s hard to work school and work together, and it’s going to get harder once nursing classes start.

Now that you have the above information, my real question is pertaining to ‘living off’ of student loand. I’m obviously going to try to work as much as I possibly can, possibly 2 12′s a week instead of 3, but I’d like to take a personal loan from the bank so that i’m not struggling and neglecting school. I make decent money, up to 15.50/hr on weekends, at the job i’m at now, but it is a dead end job and i don’t want to neglect school because school is the most important thing right now.
I figured up that to live comfortably, I make about 1600/month right now, that would equal out to 70,000 for 3 years.. is that even a possiblity? I’m responsible at paying things back like rent, i will go without food before i neglect to pay rent or electric or the above mentioned bills.. however i have bad credit, everything is paid off now, but i had credit cards and medical bills waaay past due, paid of now though, but ruined my credit..

Getting another job is completely out of the question, getting rid of nternet won’t help because i need it for school, cell phone is my only means of contacting work and family, so that is out of the question, adn if i discontinue cable, i’m in a 2 year contract with directtv so i would still end up paying 20/month until the contract is up. i’ve thought everything through, i just need advice from someone who has lived off student loans while in school, or knows any information.
Also, how hard would it be to get a big loan from a bank with bad credit? and no idon’t know my credit score, i just know that they won’t even give me a freaking Old Navy card because of it. ughhh. help?
My cell phone is high because I have an iPhone, also in a contract through ATT so theres not a whole lot to do with that. Unlimited texting which i use too much to get rid of, and unlimited data is required with it because of the internet.. cable, yes i could live without, but seeing as how i’m paying 35 now, if i discontinue the service, i’m still paying 20/month for 2 years as a cancellation fee.. no matter where i move i’m still far away from something. i’m somewhat in the middle right now. from my house to school, 15 minutes one way, 35 minutes the other direction to go to work, therefore it is 45-50 minutes from work to school. also, i am in a lease, i just moved last month.

please, ppl. help with the LOAN question. I have researched and i can’t find anything legitimate to help me.
School takes precedence over work for me, but bills HAVE to be paid also…

How do I get a personal loan if I have terrible credit?

Hello. I am currently experience some financial difficulties and was wondering if anyone had any advice for me.

I need help getting out of the whole I have dug myself into, I just received a letter saying that something wasn’t reported properly on my 2008 taxes and I owe $760. Also I have about $10,000 in credit debt(some was credit cards and some were other things that I didn’t even know where on my credit), I owe a friend $400 for a loan he gave to have my car fixed, I am also majorly behind on my Student loans.

I currently am only working part time but am seeking full time employment with a promising second interview tomorrow for a store manager position at a great store. I just need someone to tell me what to do bc I can’t get a loan and I have been told that careone.com is bad for me even though I have all ready started to repay some of my debt through them.

If anyone has and help for me I really appreciate it!!

If I receive Financial Aid.. Will I be able to open up an account with UHEAA even though my credit is bad?

My credit score is like the worst and I am in debt with other “personal loans“. I have never taken out any other students loans before .. so willl I qualify or not? thanks!

What hurts your credit more? Credit Card or Student Loan?

So I am going back to school in the Spring. I am currently paying on a 3,000 student loan from my undergrad. I have been given the option to take out another loan to cover my Masters. Now, I was going to put my tuition on my credit card and pay it off throughout the semester and keep doing this until I graduate. But, I have a total of 3 credit cards and I have been working to pay them all off. Right now I have about 1,000 in credit card debit. I am on a personal plan to have the them paid off by April 2009. Now this is excluding the card I will use for my tuition.

My question is, should I take out the student loan, around 8,000 to cover my Masters Degree and use some of that money to pay off my credit cards? Or should I just forget about the loan and put it on my credit card and pay on it each semester?

Which looks worse on a credit report? A student loan (that has never been defaulted on) or multiple credit cards (that have never been defaulted on either)?