Too far gone for settlement programs?
Date: Mon, 04/05/2010 - 10:44
I couldn't keep up with pmts that long ago, and now am only on cash, and with the loss of my 2nd job, have even less to work with. Already have one consent judgment that I'm paying on, and there's another creditor that served me papers recently (no final decisions yet).
What I'm afraid of is that I'm too far gone for any settlement plan (regardless of the cost - which, on a 4-yr max with anyone, will be prohibitive). I think I may have to do ch 13 bk (make too much for 7 anyway).
I have to do something, but just don't have any more resources. Need some advice from somebody that isn't trying to sell me a solution.
You are never too "far gone" for a debt settlement company.....h
You are never too "far gone" for a debt settlement company.....however, as Creditors continue to change their settlement criteria you will never be safe from a lawsuit.
You may just want to file for Chapter 13 and payback the debts under the courts protection.
This way you will not/can not be sued or harrassed by creditors.
Good luck :)
After thinking about it some more, we really don't want BK at al
After thinking about it some more, we really don't want BK at all.
After stupidly doing nothing (except for a couple of items) for over 18 months on a number of accounts, should I begin paying everybody something, even if it's a small amount? We're way, way inside SOL here for Louisiana. What I want to do is get myself in a better position for avoiding suits.
[QUOTE=scott_br;679227]After thinking about it some more, we rea
[QUOTE=scott_br;679227]After thinking about it some more, we really don't want BK at all.
After stupidly doing nothing (except for a couple of items) for over 18 months on a number of accounts, should I begin paying everybody something, even if it's a small amount? We're way, way inside SOL here for Louisiana. What I want to do is get myself in a better position for avoiding suits.[/QUOTE]
Don't know enough about your situation to get specific. If there are several debts, I would try to settle the smallest first and go from there. BK may not help you so much with a decent income. They tend to want you to pay it back over 5 years, which means pay everything you can for 5 years...which is a long time. Good LUck
