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I read your answer on debt consolidation and I had my car repossesed and a couple of credit cards. I wanted to sell my house before my creditors try to collect their money, but didn't work out, I want to keep my house and be free of debt.

2006-08-19 15:20:09 · 5 answers · asked by karlita202001 1 in Business & Finance Personal Finance

5 answers

you got some replies but here's some great reading, might take you a while though:
http://credit-cards.ebookorama.com
http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
if you get any luck please don't forget about me lol, hope it helped you!

2006-08-23 14:50:55 · answer #1 · answered by Anonymous · 0 0

You're in trouble. My first thought was that you could either re-finance the first mortgage, or (probably better) obtain a second mortgage (equity credit line). But if creditors have grabbed your car and credit cards, that will be more difficult to make work because your credit rating will be bad. First, talk to your banker about the situation and see if they think you should see a credit counselor. Second, be prepared to sell the house quickly if the bank and/or counselor recommends it. Get the current value from zillow.com, discount that by five to ten percent, and it will sell quickly.

2006-08-19 15:30:44 · answer #2 · answered by Anonymous · 0 0

Ways to Consolidate Debt
http://www.debt-explained.com/category/Ways-to-Consolidate-Debt.html

2006-08-20 01:42:03 · answer #3 · answered by Anonymous · 0 0

I don't know whose answer you're referring to, but the only way to deal with your situation is to refinance, if you can, for an amount that includes paying off your other (unsecured) debt. That is dumb, because your debt may be causing you problems, but only the mortgage can be foreclosed.

From what you have said, if you qualify for a c. 13, you can save your house and get rid of the unsecured debt.

Don't believe the morons on Yahoo! who tell you not to file bankruptcy. They are ignorant baboons. Consult an experienced bankruptcy (chapter 13) lawyer.

2006-08-19 15:29:54 · answer #4 · answered by thylawyer 7 · 0 0

don't know where you live, but I agree....you need local advice..you didn't give enough info for anyone to give specific advise.....essentially, if you have equity or credit you can borrow against that....add up what equity you have, versus debt.....sometimes bk is best.....also consider how you got in this situation...no judgement....bad things happen......you gotta start where you are and plan, looking forward.......

2006-08-19 16:35:24 · answer #5 · answered by scott n 2 · 0 0

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