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I have an insurmountable credit card debt, $70,000, recently learned after my wife filed for divorce. The way I see it I have three choices, file Chapter 13, cash in my IRA retirement fund, paying penalties and taxes, or some form of debt conslidation. Outside of the credit card debt I have an existing home mortgage and home equity loan, which I can manage or refinance to join those two accounts. I'm guessing the best thing to do is to cash in my IRA to clear up credit cards and start fresh from there. If my wife plans on moving forward with the divorce the IRA is considered to be a joint account anyway, which would have to be split somewhere down the line anyway. Is there a better solution?

Have you looked into debt settlement?

Sub: #1 posted on Wed, 09/03/2008 - 08:00

jjanney jjanney

(Posts: 53 | Credits: )

I don't know what to suggest here. I've tasted the waters with 3 different companies already and did nothing but wasted time and money. The first company wanted a monthly maintainance fee of $49/ month - way too high. The second company said they could waive off 50% of my debts, and I sent them all my info. Read the paperwork and found they were just bluffing it all the way. Even their paperwork said they would charge me much more than what the rep told me over the phone. These companies think we're stupid.

I've been with Removed since 5 months now. I still keep checking the blogs about them, and I've never found anything negative about them. My rep - Steve, was very helpful. Explained all the benefits and negatives of the program upfront, and the paperwork was exactly what he mentioned. Infact, he explained it so well that he even taught me how to calculate my payments. I would suggest call him before you enroll anywhere else (if you have to) Removed They are with BBB, USOBA, TASC, IAPDA and have many more accreditations. Check em out.

Hope this helps.

Jerry H.

No solictations per forum rules

Sub: #2 posted on Wed, 09/03/2008 - 18:12

dicordude dicordude

(Posts: 12 | Credits: )

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