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Seriously need advice

Date: Sun, 10/25/2009 - 09:57

Submitted by amrulez
on Sun, 10/25/2009 - 09:57

Posts: 27 Credits: [Donate]

Total Replies: 7


I would like a few opinions please. I have filed chapter 7 bankruptcy 2 times in the past. In 1997 and in 2005. The reason being I have attempted to help my brother who has major crack problems and have tried to help his wife take care of his 3 kids. I constantly overextend myself and have covered for a lot of his mistakes and it always has put me in a bad position financially. Anyway he is finally out of the picture but my finances are again an issue.

I have retained a lawyer in the hopes of doing a chapter 13 bankruptcy. I have given him 700 dollars so far but he has done nothing yet and won't till I am paid in full. I am having 2nd thoughts about doing this again. I have no property or a house. I have a car that I am severely upside down on and have a 450 dollar a month payment on. My total credit card debt is around 18,000 dollars. I am thinking I will end up paying more with a chapter 13 per month then I will if I choose debt settlement.

The only reason I was scared to do debt settlement is the prospect of getting sued and having my wages garnished. I was scared until I found out that the most that can be taken from any check in NYS is 10 percent of your gross salary per paycheck ( and only 1 garnishment at a time ). I also work for a job that does not fire you if you do get garnished as we have a union ( I work for the government ).

Anyway I want to pay my debts off and not use the courts again as I think thats a bad route to go and any judge would probably frown on me being there again for a 3rd time no matter what my reasons are. Does anyone think I should continue with the 13 or do Debt Settlement and if I do the DS what is the best company for me to hire to help me that won't rip me off? Should I handle it myself, if so is there any sites that can give me a gameplan to follow?


This is just my opinion so, for what it's worth. If it were me, I would file Chapter 7. I don't think any judge will frown on you just because it's your third time, and even if they do, oh well, times are tough and you aren't the only one who is being painted into a corner with debt. As far as debt settlement companies
, who knows, you could check the BBB but there is no guarantee when it comes to debt settlement companies, you'll get mixed reviews for sure. Personally, I would try settling the debts myself if you plan to go that route, there's a lot of useful information here about , who knows, you could check the BBB but there is no guarantee when it comes to debt settlement companies, you'll get mixed reviews for sure. Personally, I would try settling the debts myself if you plan to go that route, there's a lot of useful information here about do it yourself debt settlement.


lrhall41

Submitted by Shazzers on Sun, 10/25/2009 - 16:14

( Posts: 17344 | Credits: )


I am thinking on doing it myself , I just think the BK route will be a dead end for me. And you can't file Chapter 7 again within 7 years of your last filing and I only had mine discharged in 2005. My salary is above the limit as well for washing away your debt even if I could file chapter 7. I think if I did 13 they would go over my finances with a fine tooth comb and I will end up making a larger monthly payment then I would if I got garnished or did my own Debt Settlement plan ( or used a company for that matter ).


lrhall41

Submitted by amrulez on Sun, 10/25/2009 - 19:54

( Posts: 27 | Credits: )


its tough for everyone right now, frankly the courts are probably full right now with this sort of thing. I know it doesnt mean much, but oviously you are a kind giving person with compation. Money is just money and debt is just a part of life. just keep in mind that you will be rewarded later for your kindness.


lrhall41

Submitted by love_my_things on Mon, 10/26/2009 - 06:06

( Posts: 1434 | Credits: )


Quote:

Originally Posted by love_my_things
its tough for everyone right now, frankly the courts are probably full right now with this sort of thing. I know it doesnt mean much, but oviously you are a kind giving person with compation. Money is just money and debt is just a part of life. just keep in mind that you will be rewarded later for your kindness.



Thanks for the kind words, my health isn't to good and the stress of thinking about this every day is taking its toll on me. I don't want to rip off any of these companies. Thats why part of me just wants to let them 1 at a time take 10 percent of my paycheck every 2 weeks and since there would be no interest that would knock these accounts off pretty fast. Most of my cards are 1000 dollars or below.

Has anyone heard of Voluntary garnishment? Can someone explain to me what that is?


lrhall41

Submitted by amrulez on Tue, 10/27/2009 - 09:28

( Posts: 27 | Credits: )


If you are seriously considering debt settlement, do so with your eyes open and well-informed. There are many good companies, and some not so ethical ones. It's very easy to figure out which is which. Read this article before making your choice: Then you'll have the tools you need to make an informed decision.


lrhall41

Submitted by LKSworkerbee on Tue, 10/27/2009 - 10:05

( Posts: 7 | Credits: )