Bankruptcy Advice

I assume you are aware of your part of the responsibility and are concerned about your child's future also. At this stage, do you still feel filing bankruptcy? I mean, you should talk with a debt counselor and know some of your last options. If that doesn't work, ultimately bankruptcy will be the choice. There is no harm in taking the free quote, right?? Maybe, this could be a good decision for you in the later stage.

By the way, if you really intend, you can always file for personal bankruptcy without worrying about your house aside. Get in touch with a bankruptcy lawyer in your area and he will help you in filing papers. The creditors will be notified about your bankruptcy filing and the debts will get discharged. Make sure that all the papers are duly filed so that this bankruptcy doesn't get dismissed somewhere in the middle due to the negligence of you lawyer.

Thanks for your advice.

I am totally aware of everything this may entail. But unforunately I feel I have no choice at this point. I can't afford the payments arranged by the debt consolidation company I am with.

The advice you have given me, does this pertain to the province of Ontario.

This has been an emotional, draining process for me and I feel at this point, as embarassing and degrading as it is, I truly have no choice.

What do you mean "personal bankruptcy without worrying about yuor house aside"?

Would you also happen to know where I may obtain a listing of Ontario Bankrupcy lawyers.

I just wish I could get this done and over with and move on and regroup.

Don't go through so much emotional stress. I can understand your situation. As you are already deciding to file bankruptcy, have a look at the debt settlement process. This will be cheaper than consolidation and almost close to bankruptcy. I am showing you this direction thinking about your credit. Bankruptcy will hurt the credit for 10 years. Settlement will stay in your file for 7 years. And a trained debt counselor who has already dealt with your creditors in the past might be able to convince your creditors to report in a good way not hurting your credit. I guess you have registered here for a free counseling.

Apparently the debt consolidation company has already tried this and have been unsuccessful.

I think I am at a loss and truly have no choice unfortunately. I hate to even think about it but it is what it is.

Thanks for all your support and advice IncredibleHelp. Now I just have to figure out what the next step is and where I can get information on Chapter 7 and Chapter 13 or whatever the equivalent laws are in Ontario - any suggestion?

Try this link for some legal information in Canada.

http://www.e-laws.gov.on.ca/DBLaws/Statutes/English/90w01_e.htm

If you have a child involved, don't take any chances get a lawyer. Chat on a website is all well and good, but it is just that. Chat. Many people can misconstrue their personal situation. There are two sides to every story. Get the facts from a professional. I am a Retired Colonel and my experience is that whole truth isn't always present, especially in an informal forum. There are two people you should never lie to; your attorney and your doctor. I personally started out with a debt reduction program. It is very different from consolidation and settlement. You are coached on how to settle your debt yourself, and I was successful in settling most of my accounts myself. One creditor in particular simply would not compromise and I was referred to an attorney with an established relationship with the reduction company. My outcome was successful although not without hardship. I encourage you to research and educate yourself before choosing your path. You can not put a price on the education you ascertain if you utilize that knowledge. My money was well spent on the company that helped me achieve my goal of avoiding bankruptcy. Good luck and Goodnight!

retiredcolonel.........where can I find information on the debt reduction program you spoke of?

Hi retiredltcolonel

It's nice to have someone like you who has a lot of experience by age. You are absolutely right. Legal information is to be taken only by someone professional in that field. Forums are a platform where you can get some idea about how to deal with the situation. Many people don't know how to take the first step dealing with their debt problems. The forums and websites are meant to give advice by someone who has already been in that situation and has been successful.

Like, from your post, you talked about a debt reduction firm and SeekingAdvice has come for some help to you. These interactions and discussions can help in finding solution of many problems. Finally, there are professionals to frame the suitable path for the person.

Retiredltcolonel, I feel you have a lot of experience and valuable knowledge to share with us. Your suggestions here will be helpful to many who are finding their ways in debts.

I suggest you find a program that will help you settle the debt yourself without charging you a large fee. Lawgistix has a new program that will help you by giving you the education you need to settle debts yourself and it is inexpensive. Go to the link or get the facts online about your rights under the FDCA, FCRA, or the CROA.
Fair Debt Collection Practices act, Credit Repair Organizations Act,
Fair Credit Reporting Act.

lawgistix.net

Link made inactive as per forum rules - Mike