The 'B' word
Date: Fri, 10/29/2010 - 12:01
I am in a precarious situation and I need good advice immediately. I have $100,00 in CC debts. Everything was going well till I lost my well-settled job 3 months back. I got a new job last month but it doesn't pay me well. After curbing my expenses, I am left with just a $ 140 per month. I have my house to pay $ 1625 per month plus $ 200 for the insurance of my car. My present salary is $ 2300/month. I have been talking to many companies and they suggested the 'BANKRUPTCY' word. However I feel, that if I file for BK then my house would be taken away from me.
So my question is, am I correct in my evaluation about the bankruptcy? And can I be helped? Please I need good advice.
if you declare ch7 you will have to reaffirm your mortgage.meani
if you declare ch7 you will have to reaffirm your mortgage.meaning that debt you will still pay.it is doable,but get a good BK lawyer as some will try to say you don't have to reaffirm but you do.
Hi Paul, Thanks for the response. I just needed to say, and I
Hi Paul,
Thanks for the response. I just needed to say, and I am embarrassed to say my debt amount is $100,000 and not $100,00 which I wrote in my 1st post. Any more help or thoughts.
nope i knew you meant 100,000.that is alot so declare,but when y
nope i knew you meant 100,000.that is alot so declare,but when you reaffirm is that you keep paying that so you keep the house.it's the other part of the 100,000 you are getting rid of.
Thanks Paul. Okay, so I am going to file bankruptcy by tomorr
Thanks Paul.
Okay, so I am going to file bankruptcy by tomorrow. Hope everything goes well. I don't know if I will ever be able to take a new credit card anymore in my life. I will ask for your advice as and when required. Help me through.
Greetings "Adam in georgia", Doing the chapter 7 thing will gi
Greetings "Adam in georgia",
Doing the chapter 7 thing will give you a new lease on life.
And no fed taxes on the forgivien debt!
Forget about the plastic master......just debit on from here.
Plastic got you in this mess (me too).
You'll soon be free from the chains of debt.
Learn your lesson (I did).
Never give them the satisfaction of enslaving you again (I won't).
I'm not being condescinding but just want you to be free.
Respectfully yours,
King "Kash" Jabba Labba
