What is the best of both evil Bankcrupcy or Forecl
Date: Tue, 05/24/2011 - 10:42
What is the best of both evil Bankcrupcy or Foreclosure?
I have a total of 13,000.00 in credit card and and possibly a principal mortgage balance of 68,503.10 and Heloc of 46,663.82. Oh a big debt at the time of trying to make a small business grow of 18200.00
What would possibly work best for me here out of those two evil?
I have a total of 13,000.00 in credit card and and possibly a principal mortgage balance of 68,503.10 and Heloc of 46,663.82. Oh a big debt at the time of trying to make a small business grow of 18200.00
What would possibly work best for me here out of those two evil?
A foreclosure will only help you in getting rid of your property
A foreclosure will only help you in getting rid of your property. You will be liable for paying the deficient balance for both the loans to the lenders. As you have credit card debts as well as mortgage debts, you can go for the option of bankruptcy and get a discharge from both the debts. In my opinion, it is a better option to go for bankruptcy filing. Nevertheless, you should speak to a bankruptcy attorney and then take the final decision.
