tinat Posted June 12, 2007 Report Share Posted June 12, 2007 We have met with a lawyer and our only BK option is to file chpt 13. It has been really hard for me. We were current on all of our payments when we met with him but dying making them every month. He told us to quit making our payments for 3 months then he would file and get us into the 50% plan. I believe he is a very good BK attorney.We did as he said and the creditors starting calling. I sent the little coupons out that said to contact .... (attorney). Now that I am completing the paperwork to go in and file, I am really doubting if it is the right thing to do. I was going to look into debt settlement today and found this site. Now I am wondering if I can settle most myself. I won't get into the circumstances of how we got into this situation, but I have never before been late on one payment (ever) until our attorney told us to stop making payments. However, I am not sure how long we could have kept "hanging on." If we are going to go into a 50% payment plan monitored by the courts it seems that it might be better to just try to resolve this ourself. Our credit is already ruined, for the first time ever in our 17 years of marriage. Would it be easier to repair with a Chpt 3 BK or with settling. If they won't settle, what are our options without BK. It is not an option to pay any of the creditors off - we need a negotiated payment plan if that is what we do.We would file for repayment of our unsecured debt only, however, that is pushing $100k. If it matters, I live in Colorado.Any advice from people who have been on either side of the fence would be greatly appreciated. I don't like this situation, but it is where we are so I just want to make an educated decision and feel like I have asked the right questions to make the best decision. I am pushing the 120 late mark when I have read the accounts go to collection (which I am understanding is not good?)... so I have to make a decision fairly quickly. Thank you. Link to comment Share on other sites More sharing options...
eyeball Posted June 13, 2007 Report Share Posted June 13, 2007 I myself am in your position and also was never late until some s-t happened. Long story also.... But keep your chin up it has happened to the best of us. I would not declare Bk at this time I am not an attorney, but if you go to a BK attorney waht do you expect? Besides ch13 can go for 5 years. I would call them and get into a hardhip program, I had 125,000 in unsecured debt my business failed. . Besides your income most be ok or he would have told you do a 7. I don't know if co, has wage garnishment or homestead but its easy to find out. e-mail me if you want, but don't let it get you down, there are no debtor's prisons in the USEyeball Link to comment Share on other sites More sharing options...
SaveYrGeneration Posted July 9, 2007 Report Share Posted July 9, 2007 but don't let it get you down, there are no debtor's prisons in the US YET. Google "Halliburton Camps", those have got to be for either for "terrorists", "immigrants" or "debtors". Link to comment Share on other sites More sharing options...
Recommended Posts