Dear wonderful people,
Date: Thu, 05/03/2007 - 03:24
I recently talked to my attorney how preformed a chapter 7 december 2003 and went great. Things happened and I asked him if he would do a chapter 13, he said he would. My question is would this be better than a consolidation or a settlement. I am about to loose all and i have 3 payday store front loans in aurora,IL. which is the reason for me loosing all. I read on this site about Langehornlaw and T & c, but no t have heard back from them, and my laywer want almost a $1,000 up front, not sure what to do,just need some advise asap, than you.
james
This is a decision you have to make for yourself. What is best
This is a decision you have to make for yourself. What is best for you? Your lawyer is going to say BK, the debt consolidation people will say their way, and so on. You need to figure out what is best for you. If you are so strapped and don't have money for food and such, and don't see this changing in the next couple years, then BK is something to consider. You've already gone through bk once, so you know what the effects on credit and such are. But going through twice will look very bad to future creditors. But if you are about to lose everything you have, bk is a viable option to saving your house and such.
So really, do what you have to do. Don't just choose bk because it's an easy way out. Look at all your options and decided what really is best for you.
WONDERFUL PEOPLE
How much are these storefront loans for. It sounds as if you may be overeacting. Your CH7 will be off your credit report in a couple of years. If you can avoid CH13 do it. It will be on your credit for ten years. And besides most Ch13 plans fail and the person winds up right where they began. If you can consider paying 1000.00 up front to the lawyer, maybe you could split it between your storefronts and work out payment arrangements with them.
I too am about to file Chapter 13. It was not an easy decision t
I too am about to file Chapter 13. It was not an easy decision to make and I am not doing it just because of the payday loans but they were a catalyst in my husband and I making our decision. We have so many medical bills, 2 judgements, etc and that is the only way out that we can see. James I think you said you had more bills than just the payday loans right?
wonderful people
I filed Chapter 7 about 11 years ago because I lost my job, was behind in my mortgage and had about 20k in credit card debt. No choice and I do not regret it. Afterwards however I found myself still struggling and filed Chapter 13. I was not able to keep up with it and eventually had to short sell my house and move to an apartment. The apartment was lovely at the Jersey shore and had a fireplace a private patio and a garden so we were happy until I lost my job again. Moved to Florida where there is lots of work. Fast forward 7 years from filing and that chapter 13 is still on my credit report. Because of it I have trouble getting credit. Thats how I got wrapped up in the PDL mess. If you can avoid it, do it. Consolidation is the best solution in my opinion.