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Date: Sun, 06/13/2010 - 20:51

Submitted by eznights99
on Sun, 06/13/2010 - 20:51

Posts: Credits: [Donate]

Total Replies: 5


lost my house in a foreclosure, collection company is taking me to court and owe 50000 in credit card debt. i want to pay my debt but cant afford all at one time. what do i do to get the amount due down and paid off


Quote:

Originally Posted by eznights99
lost my house in a foreclosure, collection company is taking me to court and owe 50000 in credit card debt. i want to pay my debt but cant afford all at one time. what do i do to get the amount due down and paid off


Greetings,

Just my opinion....RUN to a good bankrupcty lawyer.
Most first consultations are free.
If you can do a chapter 7 then it's over.

Find out what your options are.
Weigh the outcome and attack.

Good Luck and keep us posted.
Best regards,
King "Kash" Jabba Labba


lrhall41

Submitted by King Jabba Labba on Mon, 06/14/2010 - 04:05

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Quote:

Originally Posted by Debt Free to Be
I agree with Jabba Labba. I think you probably need a good bk attorney to evaluate your situation and give you options.



Sounds like you're insolvent and qualify for Chapter 7 bankruptcy. Here are some simple tips to make bankruptcy easier:

1. Call bankruptcy attorneys in your area. Check the yellow pages and also ask around.
Find an attorney that makes you feel comfortable.

2. Ask questions. Calling around can save you money. The initial consult is normally Free, but Bankruptcy can range from $500 - $1500 or more depending upon the complexity of the case, assets, etc. Ask about the initial meeting and the costs involved.

3. Analyzing your Debt. During your meeting the attorney is going to analyze your debt.
He'll need income tax forms, information on assets, investments, and real estate. He can also tell you what assets are exempt in bankruptcy.

4. Filing for bankruptcy. After reviewing all of your information the attorney will determine if you're eligible for bankruptcy. If you are, he will prepare the paperwork and send a "Notice of Filing" to the State Court where you're being sued on the credit card debt.
It will IMMEDIATELY come to a halt. You will not have to defend the credit card suit.
Make sure your attorney has all the information on the credit card lawsuit.

5. Discharge your debt. Typically bankruptcy can take up to 6 months depending on your case and the court's calendar. The court will give you an order stating the debts have been discharged. The slate is wiped clean and you get a fresh start.


lrhall41

Submitted by on Mon, 06/14/2010 - 15:27

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first off, im very sorry to hear about your foreclosure. I do however have some options for you that may be a better alternative than going into bankruptcy. If you have any questions, or are interested in trying to AVOID bankruptcy, please email me [EMAIL="mattmaroney83@gmail.com"]mattmaroney83@gmail.com[/EMAIL] i will go over your entire situation with you for free, and i at the end of our evaluation should you decide that chapter 7 BK is still your best option, then at least you will know you had NO other choice!


lrhall41

Submitted by on Mon, 06/14/2010 - 18:25

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