still not sure which way to go or what to do
Date: Tue, 05/01/2012 - 04:15
I talked to pursels and associates through care on cred it counseling. I gave them all my information, and spoke with one of their lawyers, its going to cost me $150, but it was worth it.
I originally thought i wanted to do DSP, I have about 58k in unsecured debt over about 14 credit cards. I make close to 4k/month, however I lost my job at the beginning of the year and got behind on my payments for about 4 months.
Prior to talking to careone I talked to the creditors myself and set up hardship plans. Some of them reduced the interest as low as 6%.
I wouldn't qualify for chp 6 bkp. and to me whats the point of chp 13, when I could do that myself.
I'm also wondering whats the point of paying someone to do any of this for me, when i can do it myself?? granted if I decided to try to settle it will be very time consuming, but the lawyer at care one said, with the amount of debt I have they could probably settle most of my accounts at about 50%, (ive definitely heard of lower on here) and I would end up owing persels about $11,000???? are you kidding me????
So, I guess Ive answered my own question, im going to try to settle myself.
I was looking into the irs and 1099 with debt forgiveness, and I'm pretty sure I would be insolvent. Regardless of my income, I dont have any other assets my car is worth about 2k, and I owe about 4k, I have no savings or retirement, so from what I understand if your debts out way your assets you're considered insolvent??
I originally thought i wanted to do DSP, I have about 58k in unsecured debt over about 14 credit cards. I make close to 4k/month, however I lost my job at the beginning of the year and got behind on my payments for about 4 months.
Prior to talking to careone I talked to the creditors myself and set up hardship plans. Some of them reduced the interest as low as 6%.
I wouldn't qualify for chp 6 bkp. and to me whats the point of chp 13, when I could do that myself.
I'm also wondering whats the point of paying someone to do any of this for me, when i can do it myself?? granted if I decided to try to settle it will be very time consuming, but the lawyer at care one said, with the amount of debt I have they could probably settle most of my accounts at about 50%, (ive definitely heard of lower on here) and I would end up owing persels about $11,000???? are you kidding me????
So, I guess Ive answered my own question, im going to try to settle myself.
I was looking into the irs and 1099 with debt forgiveness, and I'm pretty sure I would be insolvent. Regardless of my income, I dont have any other assets my car is worth about 2k, and I owe about 4k, I have no savings or retirement, so from what I understand if your debts out way your assets you're considered insolvent??
Yes, if you can prove that your debts are higher than your incom
Yes, if you can prove that your debts are higher than your income/assets, you will be considered insolvent.