chapter 7 or debt relief
Date: Wed, 09/09/2009 - 21:31
3 years ago my husband died, just as our dughter was about to be married. I put her wedding and repairs on the car and house on my cc. Now,I owe 42000 in cc. My house is worth 1/2 of what I owe. I had a GREAT FICA, 730 , until all this financial disasters with the banks. Providain went under Washington Mutual raised the interest rate from 9.9 to 14 then Chase got it and closed the account after raising the rate to 30%. After that I got rates raised across the board on all my cc. Now I pay $680 on month just in interest. As a teacher with only 10 paychecks a year, debt relief says the formula will not work for me because I don't have enough income. These companies don't seem to care that I have had these accounts for over 10 years that they are current or that I always pay over the min. Looks like I don't have a choice in the matter. What I need to know is will I lose my house and my car which I am still paying on? :confused:
Well, it may depend upon the exemption you choose. If your equit
Well, it may depend upon the exemption you choose. If your equity on the property comes within the exemption limit and you stay current with payments, you might not have issues in retaining those. However, the best person to reply to these questions is a bankruptcy attorney.
Since you are upside down on the house you dont have to worry ab
Since you are upside down on the house you dont have to worry about equity. Talk to a bankruptcy attorney...they will be able to answer all of your questions.
