Who can help?
Answers:
I know how you feel. One thing you might check into is a credit counseling agency. They can work with your revolving accounts, like credit cards and get your payments down a little bit on them. Look in the yellow pages in your phone book. Can you refinance your car? That's another option you might want to check into. Would you be able to pay off your mortgage if you sold your house for the 390K? If you can rent for less than 3200 a month then you might want to consider selling and renting until you get back on your feet. Another option is to try to find a second job. Something part time or doing sales. If none of the above options work for you then here's what can happen. If you stop paying the credit cards, they will start calling you and bugging you. You don't have to answer the phone, of course. Most of them will keep the account for a while and then they'll call it a charge off and they'll sell it. Whomever they sell it to will call you. After a while they will want to settle for less than you owe. Of course, your interest accrues until then. Every now and then there will be a bank who will take you to court and put a lien on your house. I speak from experience. My husband was out of work for a few years and I just couldn't pay all of our bills. I figured we needed a place to live and utitlites and food more than we needed to pay the credit card bills. Now, I've been paying settlements because we are in better shape financially. Out of about 7 accounts, only one took it to court and put a lien on our house. The plus to the lien is that there's no more interest. I've settled with about 4 of the others and am making payments on one more. I think there's only one that I haven't done anything with yet besides the one with the lien. My point is, if you stop paying your credit cards, the world isn't going to end. It might give you time to regroup. Of course, our credit scores went down. That's a given. But, sometimes you have to decide which is more important, food or credit score. If you don't pay your mortgage the house will get foreclosed on. You'll have to move but you'll be out from under the payments. Check your library or book store for a book called, "How to Sell Your House in 5 Days." It might help you. Good luck to you. I've been there and it's not fun.
Sounds like a nightmare! (sorry) All I can suggest is either getting a roommate who is not ill and can work and help out with the bills?? Or you can file chapter 13 bankruptcy, keep everything you have and consolidate it all into one monthly payment. Or your other option would be to hide under a rock or disappear somewhere. I'm not trying to make fun of your situation but it sounds horrible. Try not to let it get to you to much. Take care and I hope you win the lottery! Short sale and foreclosure would do you absolutely no good. You will not benefit $ wise at all..
Sorry to hear about your troubles.
As much as I hate to advise this filing chapter 13 bankruptcy may be your only way out. You make to much money to qualify for chapter 7.
Or you might try Consumer Credit Counseling Services, they are free and will work with your creditors to lower your monthly payments and your interest rates. I used them several years ago and was debt free in 36-months.
Either way you can keep you home and vehicle.
Hi,
I used "CuraDebt" to consolidate my debt .They managed to reduce my debt up to 58%.It's legitimate.I came accross this company on NBC News Special Edition.Check it out here:
http://doiop.com/curadebt
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