Need some advice no mean comments please…we live in Michigan and have been married for 9 yrs.?
we have about 30,000 in CC debt ( all collections ) we were told by a debt solutions co. to stop payments on out CC. and they would help us cut that debt in half. we ended up paying them 3,000 and only paid off one CC. and didnt get nowhere. We would always try to pay off all our credit cards when we would get the statement. Then my husbands job started goen downhill. he is in realestate.He went from making 100,000 a yr.. to making about 10,000. this yr. he has made nothing in realestate and got another job about a yr. ago making 23,000. so our income decreased drastically. well we now have two kids and no way of paying all of that debt. due to the fact that my husbands checks dont even cover our bills… My husband is being sued ( did get a summons ) from one of the CC. and we are afraid since we dont know what to expect. We have no money to pay they need 8,000 and they would only settle for 7,500 in two payments. will they garnish his wages?what will happen,if we cant pay this? jail?
just want to add that, these 30,000 include some medical collections, when i didnt have insurance.. also dont want people to think that we would go crazy shopping with CC. we would have to most of our bills with CC because there were months here was no money cming in so that is what blew the CC up so high…
If you live in the US, which I am assuming you do, you cannot be jailed for debt. You need to talk to an attorney about bankrupcy. It may cost a little but in the long run you will end up better off.
November 28th, 2009 at 8:40 pm
If you live in the US, which I am assuming you do, you cannot be jailed for debt. You need to talk to an attorney about bankrupcy. It may cost a little but in the long run you will end up better off.
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November 28th, 2009 at 9:15 pm
You need to seriously consider bankruptcy
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November 28th, 2009 at 9:20 pm
Perfect time for Chapter 11 – get a referral for a good BK lawyer. As there are bad ones. They cost around $1500. debt solutions co. etc. just prolong the bleeding. Get it done now.
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November 28th, 2009 at 9:26 pm
This time bankrupcy sounds the best. Talk to a lawyer
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November 28th, 2009 at 9:43 pm
Bankruptcy was made for people in your situation. There is no shame in not being able to pay your bills when the economy is so bad. Especially if you have done all you can to try to pay them off.
I live in Michigan and houses all over are sitting empty because the won’t sell. The houses that have sold, have sold because the sellers have practically given them away. People are leaving Michigan –not coming here.
Talk to a bankruptcy lawyer and find out what your options are. Bankruptcy will stay on your credit history for about 7 years but defaulting on your debts will follow you forever.
Good luck
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November 28th, 2009 at 10:32 pm
Sounds to me that you have an income problem. Get a job. If you have one get a second job. Get on a STRICT budget. I recommend Dave Ramsey’s book "Total Money Makeover".
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November 28th, 2009 at 10:49 pm
Speak with a bankruptcy lawyer immediately. There’s generally no fee for the initial consultation since a para-legal or intern conducts the initial interview/screening to find out if you’re a viable candidate. My sister is an attorney and her office/firm deals with bankruptcy.
It’s a painful step, but one that will put you back on track as opposed to experiencing more anguish. I wish you and your family all the best!
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November 28th, 2009 at 11:37 pm
well everyone in the family get two jobs and get rid of ever want in your life == computer internet cable phones and live on bread and water till you get your act together!!!
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