Debt consolidation is my last step before filing Chapter 13
Date: Mon, 08/14/2006 - 10:11
I took a $17K cut in pay from 2004 to 2005 and was unable to sell my townhouse due to the realstate market in this part of Colorado. My income has increased this year, yet; I'm still very behind on all of my payments. My renter left the townhouse without paying 5 months rent and cannot be located. I am currently living in the townhouse and plan to stay there for at least 5-7 years. It was an investment remodel property and I'm quite fond of it. I have one credit card that can be paid off due to a settlement between myself and them. I would also like to pay off the credit union where I have a car loan if possible. A debt consolidation will help in reducing these payments and get me back on track with the mortage company. This is my last step before filing Chapter 13 and I want to avoid this if possible. Life has been tough these last two years and I know there is a viable answer and solution that will keep the worst from happening. If at all possible, please help.
Thanks you.
Thanks you.
You should discuss your options with the counselor and get start
You should discuss your options with the counselor and get started with the consolidation payments. Filing chapter 13 will not be a good choice if you can afford making the payments in the plan. Prefer to keep the program for short duration so that you can finish it before anything unexpected happens in the future. Calculate your income and keep your expenses at the lowest. This will help you in making large payments towards the debt accounts in the consolidation plan. Talk to a counselor for professional advice.
