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helpneedy

HI. I am currently going to file for banckruptcy. But my husband does not want to. Both of our debts is high. He has about 25k. He is NOT the type to try to settle a debt with creditors (if it were me, I would try to do on my own). But he hates talking to creditors and would not be the best negotiator. 1) Is it possible to do everything through letters or would he be forced to talk to creditors? 2) since he wont do negotiating, should we just hire a company? any highly recommended? I saw on nbc that they featured credit solutions.com but when i went to their bbb they have many complaints, yet when i called them they were pushy and claimed they are the best because of working with JDPower&Assoc. 3)my husband has 2 credit card with BOA but also a car loan with BOA which we want to keep the car. Can they threaten to take the car if we settle the credit cards with them? we are paying our car payment on time. PLEASE HELP!!!!!!!!!!!!!

Posted: Mon Jan 14, 2008 1:56 pm Subject:

Hi Help...
Have you talked to a BK attorney yet to see if you qualify for a bk? Many of the rules have changed. Why are you filing and not your husband? I would advise against that...they will go after your husband for the debts.

MCasper · Posted: Mon Jan 14, 2008 3:56 pm Subject:

Helpneedy,

So long as you continue making payments to BoA on that car loan and on time, no.

As far as credit solutions is concerned, I've heard more complaints from my clients regarding their unprofessional customer service then I have people complaining about APR's (imagine how hard that must be).

I'm not here to solicit clients as much as use my knowledge to help avoid what I personally believe will be the cause of the next recession (credit cards are more detrimental to our working class then ARM's on their homes).

If you're going for a debt settlement company, make sure you go with a company that is not only accredited with the BBB, but also a member of TASC (The Association of Settlement Companies). On top of federal laws/regulations, they have their own standards they hold their members to; keeping the client informed and well represented.

Best Regards,

Michael Casper

Posted: Tue Jan 15, 2008 5:13 am Subject: Debt Settlement

Bank of America is one of the easier ones to settle with. You may want to research this site and see the success people have had with them. Perhaps you can get your husbands authorization to talk to the credit card company for him. Bank of America will sometimes settle for 20-30% of what you owe them after you are about 180 days past due.

Posted: Tue Jan 15, 2008 7:25 pm Subject:

lostindebtat50 is correct. When you start getting letters from FIA (their internal recovery department) you can call the number on the letter. I've found that they have been extremely nice and helpful. I just did a BofA settlement on the 10th.
Balance: $55,207.96
Settlement: $8,300 (15%)
Savings: $46,907
The client started crying! It felt so good to help her out! Widowed mom of 2 small children, its one of those heartbreaking stories I won't go into...

As long as you pay your car loan, they can't take your car.

Guest · Posted: Tue Jan 15, 2008 8:48 pm Subject:

Do not go with credit solutions. I am fighting them right now tooth and nail because they were not able to settle my credit cards and are giving me a hard time giving me a refund. In fact when I called both the creditor's they told me they do not work with credit solutions. Just my opinion.

Posted: Tue Jan 15, 2008 8:59 pm Subject:

Guest, most creditors say they don't work with third partys or settlement companies. They do, they just don't want you to know that because debt settlement works, and they "lose" money from not extorting extra money out of you due to their terroristic tactics.

"The enemy of my enemy is my friend"

Posted: Wed Jan 16, 2008 11:39 am Subject: Filing bankruptcy

Yes, please read into the new BK laws. Filing is not as easy as it use to be.That is what discouraged me from filing and I am now doing DS on my own.

I don't believe they can take your car especially if you are paying on time. That would not benefit them at all.

If you decide to use a DS company-please choose wisely.

Good luck!

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hire debt settlement co.?WHICH ONE? AND CAN BOA TAKE MY CAR?

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