should I?
anyway, I'm a freelance graphic designer living in MA ( hoping to become full time if any companies acctually hire for that anymore )and my income is about $1500 a month ( depending on work of course ). I have about 35 to 40 thousand in loans to these 2 credit cards ( I also have a car loan [ $15,000 ] which is up to date, but Ive been late on a bunch of payments in the last 2 years, since my divorce and loss of a good job ), and I have been talking to them, and now the credit collection agencies. They wont accept the payments Im able to make... they keep asking if I can borrow money from anyone I know, which I cant. nobody has sued me yet and I want to avoid that... should I go for bankrupsy or consolidation?
TIA
cheers,
p0
Welcome to the community :D Have a look at this thread on settl
Welcome to the community :D Have a look at this thread on settlement and consolidation http://www.debtconsolidationcare.com/forums/comparison.html This may give you more info. A credit counselor will be contacting you soon and you can discuss your options with them. Also read what others say about bankruptcy,settlement,and consolidation in other posts to become more educated in what choices you have-Keep us posted...Karen
Also have a look at this-it explains more about bankruptcy http:
Also have a look at this-it explains more about bankruptcy http://www.debtconsolidationcare.com/avoid-bankruptcy.html Good Luck...Karen
Make bankruptcy your very last choice. It will haunt your credi
Make bankruptcy your very last choice. It will haunt your credit report for 10 years.
Your first choice should be consolidation. If you are unable to
Your first choice should be consolidation. If you are unable to make the payments set in the consolidation program, settlement can be a choice because in this, the monthly payments are much affordable. In case, any of these programs does not fit to your situation and you are considering the very last resort, bankruptcy is the ultimate option. These days, filing for bankruptcy is also not easier. You will have to undergo credit counseling before qualifying for the bankruptcy. See this.
http://www.debtconsolidationcare.com/forums/bankruptcy-reform.html
Hey 23.hagbard. I agree totally with Tammy. You should make bank
Hey 23.hagbard. I agree totally with Tammy. You should make bankruptcy your last choice. I filed bankruptcy in 1998. Yes it was nice to have all my debts erased but a bankruptcy can stay on your credit for up to 10 years. Consolidation is a better idea. Also, you need to make sure you keep records of everytime you have contacted those collectors that are refusing to accept payments from you. Atleast you are attempting to work out some kind of arrangement with them and they are refusing, that will look bad on them.