Settlement with bankruptcy

If you are that far into the program, do whatever you have to to do to finish it!! Was it a 5 year plan? There is no way your creditors will let you continue paying for settlement....once a bankruptcy is dismissed, the balance becomes due in full. If you income has changed, talk to the trustee.

Soaplady is right on the mark. Actually it sounds like you have 1 year left. Do you have an attorney? If so, discuss a Plan modification. If not find one. The initial consultation is usually free and you can get some good pointers even if you do not hire the attorny. You might be able to reduce the payments and extend the Plan (up to 60 months from the 1st payment). Or you might be able to do a short suspension of payments (but you have to make them up somehow) You have worked too hard to toss in the towel. Investigate your options 1st.

Des.

OMG....I'm totally in the dark. I don't have an attorney right now. If I consult one, shall I have to go to some particular attorney, like bankruptcy attorneys? What are the chances that I can get an extended payment plan from the creditors? Shall I do some part time jobs and get a fund ready to pay them?

Stop panicking.

Yes, you want to consult with a bk attorney.

When you seek a waiver of Plan payments or a Plan Modification you are not negotiating with your creditors. Yes, a creditor can oppose your request but such is not likely. It is the Trustee (and to a lesser extent, the Court) that you must persuade. Plan modifications and/or waivers are done all the time. It only becomes a problem if the Trustee asks for and you cannot produce a budget that shows you can afford the going-forward payment. I always say that the proof is in the pudding. If my client resumes and maintains the payments then my client can afford the Plan regardless of the budget. Sometimes this works, sometimes is doesn't.

If you do not know what attorney to contact chances are your Trustee has a list of attorneys who have a history of agreeing to "take over" a case. Call the Trustee.

Yes its true.You have to consult a legal counsel from LINK REMOVED PER TOS They are all expert in this kind of case.This is proven and tested because we have the same problem and by god's will my case has been solved.However, when we say Debt settlement and bankruptcy are different in principle as well. Debt settlement is a way to seek to overcome the burden of debt in an honorable and worthy manner. Bankruptcy should only be used as a last resort, for those who have suffered a tragedy that has left them crippled financially. Also, debt settlement does not carry the same stigma that it associated with bankruptcy. If you are employed, are serious about getting out of debt, and have enough funds to pay your debts over time, we recommend that you pursue debt settlement rather than bankruptcy. Bankruptcy is only to be used when you have no other options.