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Adding to Bankruptcy or Debt consolidation

Date: Fri, 11/02/2007 - 11:20
Submitted by on Fri, 11/02/2007 - 11:20
Posts: 202330
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I have been harrassed daily by several companies. I stopped paying most of them because they would not work with me and kept adding fees, overlimit charges, lates fees etc. They raised my interest rate so that every cent I paid them went to fees and charges, nothng on the principal. At this rate I could see that all my money was as good as burning it and I still owed them, my dept never went down. Only one creditor has been willing to work with me, I have kept paying them. I filed chapter 13 3 years ago and I am still paying that off, it is taken out of my paychecks. I owe the following creditors. They are all credit cards.
HSBC: $16,000
Orchard Bank: $2400
Capitol One 3 different cards: $3700.00
Discover Card: $5,000 I pay this one cause they work with me.
What is my best option to stop all the harrassing phone calls. Should I add them to my Chapter 13 or would it be better to do a debt consolidation?


Gosh wish i had answers for u! Aren't u almost finished with ur CH 13?? Isn't it for 36 months?? Is there any way u can call ur bk atty and ask him these questions?
Sorry i answered u with questions, plz hang tight and i'm sure someone with more knowledge will be along shortly to help!
Ang


Submitted by Ang on Fri, 11/02/2007 - 12:22

Ang

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I believe my term was 5 years, not 36 months. I will have to call my attorney. I am very embarrassed to be in such financial trouble or I would have called him already. Since my credit is already ruined becaues of the bankruptcy, I think it wouldn't make much sense to go with a debt settlement company. They charge such a high fee for their services. Its just very confusing for the average person to know what is the best way to get out of trouble.


Submitted by on Fri, 11/02/2007 - 20:52

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The debts were aquired after I originally filed. After I had filed I had some unexpected medical bills and this put me behind on payments. Once I got behind everything just spiriled out of control. As anyone knows who has had this happen to them, they start adding on late fees, then overlimit fees (caused by their late fees) and pretty soon you are no where close to your original principal. I have tried to get them to work with me, but they refuse. I just can't understand why they would want to let it to go collections when you are willing to pay a reasonable amount.


Submitted by on Sat, 11/03/2007 - 08:44

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