NEED DIRECTION- B of A charge offs

You need to undergo a credit counseling program within 180 of filing bankruptcy where it will be decided whether you qualify for Chapter 7 or Chapter 13 bankruptcy. However, you cannot file bankruptcy if you already have a discharged Chapter 7 bankruptcy within the last 8 years or a discharged Chapter 13 bankruptcy within the last 6 years.

You need to send cease communication letters to these collection agencies requiring them to limit their communication to the USPS only. Failure to comply is a violation of the FDCPA and carries damages of 1000.00 per violation.

Did your attorney do a means test with you? A lot of times you can still qualify for Chapter 7 even if you make more than the median. Perhaps you might want to shop around with bankruptcy attorneys. I feel your pain really I do... :( Perhaps one of you would need to take a second job to qualify for the chapter 13? I thought you only needed like 100 bucks a month for that? Could be wrong there.

Otherwise, maybe you should look at the debt settlement route which is talked about a lot here.

im not real sure if settlement would be right for them or not either. Settlement only works if when you stop paying you can start saving. Can you start saving a lot to go towards these debts if you stop paying the cc? This will be your answer if settlement is right for you. If you have any questions about settlement there are many posts here that will help you make the decision if it is something you can do or not.

ARe most of your debts unsecured? secured debt usually cannot be settled.

All of the $115,000 is unsecured. $10,000 is deficiency after turning in husbands Toyota and $12,000 is deficiency after turning in 5th wheel. All we are currently paying is housing, util, 1 car pymnt, food and gas. My house in in foreclosure... we moved out already... could not subject husband to all that with the tumors. I've had 3 contracts on the house but B of A ( the 2nd) is so slow in responding that I lost them all ( and I'm an expert in short sales and had the packages letter perfect). Also have over $5000 in med bills left after insurance paid and they are hounding me too. I just don't have the money to settle any right now. Just have $1000 in the bank for emergency. Never had a bankruptcy or a late pay for 32 yrs of marriage until now. I tried debt settlement thru this web site but was told we need to apply more than $200/mo.

If I file chapt 13 the court will take over my real estate brokerage and essentially close it down - according to the attorney I talked to several months ago. If that happens ..there goes any chance of bringing in extra money AND my reputation. I don't make much working in a call center at night. Just lost..................

in order for settlement to be efficiant you would need to save more than 200 a month expecially for your debt being so high. My settlement plan was 400.00 for 2 years on 18,000 worth of debt.

See if you make the years longer than 2-3 years the likelyhood of the program working is not good because you will probably get sued. Settlement is a way to pay off the debt and fast to illiminate getting sued.

Without paying these bills you still only have 200 left? i have heard of some settlement companies that will go longer than 3 years but you could expect to be sued.

your really in a pickle. I would hate to admit it but bk may be your only way out.

I'm afraid of BK- not on a personal level but I don't want my real estate brokerage to be shut down. .... but if anything goes to court and wages are garnished we won't be able to eat. B of A has turned accounts over to Creditors Exchange $20,000 and SRA Associates $25,000. The SRA account used to be w/NCO but B of A pulled it from NCO since I filed a complaint with attorney genrls office.....NCO was implying that they were attorneys and threatening me with debtors jail. Now SRA is saying that BofA is their client and they are "meeting with B of A's attorneys" to decide how soon its going to court. Yet, the account # they mention does not match in any way to my BofA accnt #. I sent them a letter asking them for validation or proof of the accnt. They call me every other day to say "we have good news - we have the proof " I gave them my fax # but they never fax anthing.

I feel like I need to be pro-active. Don't want to just sit and wait for the other shoe to drop but not sure what to do next

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With a "means test" does that compare your income to your financial obligations. I did that w/Countrywide to see if they coud re-write the mortgage and they couldn't. Our income is $1800 less than the bills if we were to just make minimum pymnts.

The means test compares your income and necessary expenses (housing, food, etc.) with the averages for the area where you live. It is not the same thing as comparing your income to your obligations, something that you would do to qualify for a mortgage or loan. A good attorney should be able to explain it so that you understand it.