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Another "debating whether to file.." question

Date: Fri, 08/01/2008 - 12:40
Submitted by on Fri, 08/01/2008 - 12:40
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We owe about 21k in credit card debt. We are on a settlement plan but it is 5 years and I'm afraid we'll be sued and/or not save any money. I am considering just filing bankruptcy and being done with it. Any thoughts?

I also posted in the debt settlement forum--but thought it might be wise to check here also.

Thanks!


Are you in a debt settlement program or a debt management plan? If you are in a five year settlement program and your total debt is 21K, it sounds like either the fees that you are being charged are very high and/or the projected settlement amounts are not very low and/or you have an extremely limited amount of money that you can apply monthly toward your settlements. Most settlement programs that I've seen don't last that long, and the longer it lasts, I think the greater your chances of being sued. That might make BK the better option for you.


Submitted by alias1958 on Sat, 08/02/2008 - 14:04

alias1958

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