I need your input....please

Have u registered with this site?? There are many more debt cons and settlement companies out there. Ya don't have to only talk to one.... talk to many see waht they have to offer and use bk as a LAST resort!
Good luck,
Ang

thanks....I need to add more info.

For the next 5 to 10 years, I don't think I need to buy a house or a car. Therefore, credit reporting is not an issue for me.

As a result, I am leaning toward chapter 13. Input please.

Try contacting a bankruptcy lawyer for a free consultation, then way your options.

I would sell the 3 rentals if you can do it without taking a major loss. If you pay $2500/month and rent is $2000/month then they are costing you $500 a month and that does not include taxes, insurance, repairs and months with no renters. If you are not upside down in your cars I would sell at least 1 of them and maybe both of them and by 1 or 2 cars for 3k each. I would not pay a company 5k up front to negotiate debt settlements. I would consider applying for a settlement company through this site as a comparison to the one you are looking at. I would consult a couple attorneys for their opinions even though I am not a big fan of bankruptcy. I would work overtime or pick up a second job to work through the debt. If you are going to use debt settlement then you can let your accounts go delinquent and settle them yourself.

I agree with DOLLARSandSINCE on what they said. You need to sell those 3 rentals and get rid of your cars, trade them in for cheaper cars where you don't have to make payments on if at all possible. Try to avoid bankruptcy I speak from experience on that topic.

ladybug

I have 4 rentals myself...do you know how hard it is to sell anything right now? Not to mention when you go put a for sale sign in the yard, let's see how long you can keep a renter,let alone get another.