I inherited a debt of 500000$USD from my father and have no assets or business. What do i do to repay.?
450854
first you need to consolidate his debt.  it is true life is not fair but be happy you have your health and a family try to get a loan to start a business in steel but make sure you do ur homework as you have more on te line than your average entrepreneur.  you must take a huge risk to reap huge rewards.  if you choose to be cautious consult a financial planner and or creditors for advice.  good luck sir and may all your problems end like bad day when the sun sets.
391715
Talk seriously with the company or loan agent.  Lay down your cards.  They will be happy to know that your are sincere and willing to pay under reconstruction basis.  It pays to be honest and pay your debts.  Most people I know are not responsible enough.  I am proud of you.  Goooooooooo. Boy.  They'll understand you.  Trust me.
1002408
Have a list of your assets and debt, and bring that with you to speak to the local banks.  Keep trying at banks or credit unions until you find someone you can borrow from.\nBanks are mostly interested to know you can pay off the money you borrow.  Have documentation of bills you've paid off.
1160541
If the letter was from a court, there is a judgment against you. They may be able to get a court order garnishing your wages or your bank account. They can not take any other property you own, unless they have a court order. Courts do not often order the seizure of non cash assets, If it was not from the court, it most likely was an attempt to scare you into paying.\n\nLook for small print at the bottom. If it says "this is an attempt to collect a debt............" then it is just a collection attempt. \n\nYou still owe the money, and should do everything you can to pay it back. Send the dealer something, even if it is not a full payment, every month. The best way to solve this problem is to pay what you owe.
552077
You cannot get rid of his student loan debt, except in very rare and extreme circumstances.  Bankrupcty would be a good option if he has no property he can liquidate (sell to pay debts).  The bankrupcty trustee will make sure that he has no assets (stuff to sell). If his income is above the new standard, he may have to pay back a portion, but that probably isn't the case.  Good Luck!
499115
Well, sounds to me like you may never get your money here. I would just be upfront...tell her that your parents have decided they would like to buy it and since she has been unable to pay you the agreed upon amount you are going to sell it to them. She has renigged on her agreement and that gives you the right to sell it to someone else. If her and her uncle are upset...they will get over it.
87151
Hi PaintedTiger, \n\n Well you have certainly painted yourself into this corner, haven't you now? I know, I know, bad joke, but hey what can I say? You gave me that joke. \n The first thing I would suggest is that you call your creditors and explain your situation and ask for an extension. You would be surprised how often creditors are willing to work out a payment arrangement with you. If you blow them off or wait too long, then you will pay the price. Call them today!!\n  As for your utilities, gas, electric or heat, there are a number of community programs available depending on where you live. I suggest you contact your local city hall or maybe the library and ask for assistance. If your in a cold climate I know there have been a number of oil assistant programs. Check on those if needed. \n  Well I hope this info helps and please keep a positive attitude, because in the grand scheme of things, this is no biggie, no smallie either.
366268
contact the IRS or Department of Revenue.  Request a Compromise and Release.  This will give you the power to work with the IRS and work out a payment arrangment to pay the past due taxes.  \n\nIf taxes are not paid, your bank accounts, savings, property (Home, car or any asset) can be attached with liens or seized but the IRS!!!
796866
Ask your parents for a loan.  Give them a plan to pay them back and state all the ways you will come up with the money needed.
311525
If you don't know ask an attorney. They will ask who sent it you to. There is a lot of missing info here. Are you being sued? Did you file for bankruptcy? Has a family member passed that owned a debt? In these kind of matters, stick with the advise of a professional to protect yourself, and not someone you've never met on yahoo.
1061685
I'm in the same situation right now.  Try to get a bridge loan.  You won't have to make any payments for up to 6 months. I hope this helps.
81332
Go to the local District courthouse, it shouldn’t be to difficult. Don't go to an attorney, its probably under $2000 you don’t want to give half of that away to an attorney do you?\n\nGranted, attorney's can be very helpful in situations, but in small legal situations such as this you can do it.\n\nAlso, have you just tried telling the property owner that if they dont pay up then serious legal action will occur, with potential severe legal penalties? That my scare them into coming up with your money.\n\nP.S. Don't take a check, cash or a cashiers check only.
470511
and two became one, yep.  you inherit the wealth, unfortunately, except you will still have 2 individual credit scores.  i was in the same situation, it was hard getting our house cause he made more money but had the credit problem, but as long as everything is paid to date, and the credit bureaus have been updated most places will look at that and take it into to consideration, you should be ok.  if he still has bad credit and outstanding bills, try to pay them off and close them yourself, it looks alot better than if they close them for you.  and even if you couldnt pay them off, sometimes calling them, they will make a settlement amount and you could be better off then if they take it to a collection agency, ive been through this, im soooooo glad thats over.  i bet you werent to happy with him about this, just try not to yell at him about it, he probably already feels bad enough, just work with him, and you be in charge of the finances.  good luck.
552945
The estate will be responsible for the debts up to the amount of their assets.  However any debts in excess will not pass on to you.  Hopefully your parents have life insurance that will take care of most of their debts in event of an untimely death.  \n\nIf you are worried about your parents financial situation, you should talk to them about it.  You may want to pay for a fee-only financial planner to have a consultation with them.  It is your parents money, so you should think of it as helping them be more comfortable, rather than protecting your inheritance.
153914
My parents took out a loan.
1183079
You could ask a child support attorney. If your father is such a deadbeat that he hasn't paid in all this time I doubt he'll pay now though. Your father is scum, be glad he isn't in your life if he isn't.
1058339
What the lender wants to hear is that the money you received is simply that, a "gift" not a "loan".  I would have the person/s who gave you the gift write a letter stating the the money is a gift given freely and that no repayment is required.  \n\nDear So and So, \n\nThe funds in the amount of $xxxx to (you) is a gift only and no repayment is expected or required.  We do not and will not retain any interest in any propertyor items purchased with the gift funds.\n\nThank you\n\nGift Giver  :)