What is best to do?
I can afford $250-$300 amonth but BOA does not want to work with me!
I own a house jointly with my wife with 20k in equity, She is not joint on any of my CC's
What would be best approch ? Bankruptcy or credit counsel
Bankruptcy should always be considered as the last option. So, d
Bankruptcy should always be considered as the last option. So, don't take the decision hastily. Remember that bankruptcy may stay in your credit report for a period of 7-10 years. If you're behind your payments on your BOA account for more than 4 months, then I would ask you to continue negotiating with them. You can also take the help of credit counseling agencies, but you'll have to shell out extra money for them.
If you've good negotiation power, you'll be able to chalk out a good settlement plan with BOA without spending extra money on counseling agencies.
They have sent 2 letter, 1st dropping bal to 19k but want it pai
They have sent 2 letter, 1st dropping bal to 19k but want it paid in 90days.
2nd letter was cutting interest in half to 6% but payments are $100 more then i was paying. If interest is dropped to 1% i could make payments but they won't do that yet... I asked to do it for 12 months and see if my income increases they said no.