Bankruptcy
| Bankruptcy | |
| Author: | Posted: Fri Sep 19, 2008 11:58:27 am |
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I have a debt consolidation loan through my bank that I do not think I can keep paying. Right now it is getting deducted out of my bank account when my check hits the account. Money is getting tight and I can't keep paying that. I am trying to get them to work with me on a lower payment, interest, home equity loan,something, etc. But it's not working. The only other option is pointing towards bankruptcy on this loan. Is there something else, how do I go about doing that. Also I own a home with my husband, that wouldn't be affected would it? I can't imagine that just not paying the loan and having it go into the credit bureau would be better? Please help, I am so stressed out. |
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| Re: Bankruptcy | |
| Author: | Posted: Fri Apr 24, 2009 2:04:17 pm |
You can cancel the bank account withdrawals anytime. Obviously your first priorities are your basic family needs and maintaining employment. So mortgage payments, auto and home insurance, groceries, gasoline and car payments have to take precedence. If there isn't enough left over, you can get into some credit counseling or debt settlement arrangement. If there is nothing left, you have to look at bankruptcy. The situation about your house depends on the value of the house and the mortgage balance, whether your husband has debt and if it is joint with you, and how much your household income is. These are complicated and interrelated issues that require an in depth consultation. I hope this helps. |
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