Do I have to file bankruptcy to pay off $60000?
No need to file bankruptcy.
No need to file bankruptcy. Try to pay off the highest interest rate credit card debt first. Make payment to it as much as possible while paying the minimum to the rest of the debt.
This method is called debt avalanche. Try to consider a side hustle or sell off some unused assets to fasten the entire process.
Submitted by Sanders Patricia on Thu, 05/11/2017 - 04:14
Apart from the above options
Apart from the above options you can also settlement your credit card debts. But, I would also suggest you to take a professional (especially, from a certified professional) help.
Settlement can be a good
Settlement can be a good option when you're unable to repay your existing debts in full. As you've told, you can afford only about $600 per month, it'll be easier for you to get rid of your debt much faster if you opt for settlement.
Bankruptcy can be the last
Bankruptcy can be the last option to solve your financial distress. But before that, you may consult a professional debt consolidation company and consolidate your credit card debts into one single monthly payment.
Do you have assets that can
Do you have assets that can be liquidated?
There are 3 options - (i) refinance your mortgage (ii) approach a debt settlement company (ii) file bankruptcy.
Even if you file bankruptcy, you'll have to pay bankruptcy attorney fees. An attorney may charge $335 for chapter 7 and $310 for chapter 13. How will you manage with just $600?
