I owe more than 60k in credit card debts and I just can't pay them and will file for bankruptcy, Plz Help?
I have stopped making the minumum payments on my credit cards since December of 08. In fact both me and my wife are delinquent in the credit cards. We both owe more than 60k in unsecured credit cards. Now we own a home but it has gone down in value meaning there is no equity at all. We are leasing a car which means we don’t own it but obviously we need it to get around. We are both self employed and we have our own business which is an LLC. We don’t pick up on the collectors nor the credit cards when they call and now my wife recently got a summons to appear in court for one of the credit cards that she is delinquent on. Anyways all the furniture we have in the house has already been paid for. We have no other assets and we only have like 00 in the bank. With that said do we need to file for bankruptcy or let them get judgements against us because it isn’t gonna matter since we have no assets except the stuff I mentioned above. If we let it play out and not do anything about this, what can the creditors do even if they get a judgement. At this point we don’t care about our credit. Please advise or should I still file for bankruptcy chapter 7. Let me know. Thanks
If bankruptcy is your only option, then take that route. But also be aware that the bankruptcy will stay on all 3 credit bureaus for 10 years.
March 28th, 2010 at 2:12 amYou should contact a bankruptcy attorney and see what options you have. Usually the first visit is free.
File for Chapter 7 and do it fast…
You may think you have nothing the credit card companies could be interested in… but you do. They will go after all bank accounts and have no scrupel overdrafting a bank account. Which in turn gets you in even more debt with your bank.
Protect your main asset: Your house, your health and your sanity.
Your credit is already damaged since the credit card accounts are delinquent. Just get it done and over with and find a good Bankruptcy Attorney. Make sure to bring along that summons your wife received.
March 28th, 2010 at 2:12 amFiling Bankrupt should be your last option. Because it stays on your credit for years. Try http://www.careonecredit.com. With them all you need to do is make sure your date you choose for your account to be drafted on will coinside with your creditors due dates and you will be debt free in no time. I have sent many people there and they were happy with it. You are able to log on to your account with them to see when the payments have been sent to the creditors and everything. So you can actually keep up with your debt as it is being paid. In the begining it may seem tough but after the creditors accept the proposals you are locked in that lower interest rate until the debt is paid. Remember you need to check your statements from the creditors to make sure the payments are posting before the due date. Trust me they can help you. Good luck
March 28th, 2010 at 2:12 am