My spouse & I are in serious financial problems. I think we need to file bankruptcy because he has stopped paying his credit cards. i'm keeping up with the utilities and my own credit cards. we own 2 homes, 1 of which is on the market and my spouse refuses to bring down the asking price and now the morgage company has started foreclosure on that property. he's been able to sort of keep with the morgage payments on the home we live in. my ? is, is debt settlement a good option? I don't know where to turn to anymore. My spouse wants to "keep up the fight".
2007-01-25 02:35:56 · 7 answers · asked by JC 1 in Business & Finance ➔ Personal Finance
You should talk to a bankruptcy attorney. They usually have a free initial consultation. They can help with debt settlement also. Avoid the rip off companies who say they will handle debt settlement for you. They usually take a huge "commission".
An bankrutpcy attorney might seem more expensive at first but in the long run, they are much cheaper.
2007-01-25 02:39:39 · answer #1 · answered by Feeling Mutual 7 · 1⤊ 0⤋
I heard you can file the kind of bankruptcy where you start
paying things back; then eventually, if you have to you can
file Chapter 7 full bankruptcy. PS - Does he gamble?
I heard there is a lot more financial trouble because of that.
When I got divorced, we had two houses and I think part of the
reason we got divorced was bills and having two houses and
all the tax issues.
2007-01-25 02:48:27 · answer #2 · answered by judy f 3 · 0⤊ 0⤋
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2016-11-01 06:13:49 · answer #3 · answered by ? 4 · 0⤊ 0⤋
If you're really in need of funds fast I would suggest a home equity loan or line of credit, if you have enough equity in your property. Large banks like Citibank and Bank of America don't charge closing costs, so the process is virtually free. If your credit score is too low, you could try getting a loan through Prosper. They offer pretty good rates (ProsperFiveStar.com)
Good luck!
2007-01-25 06:39:00 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Let me get this correct. You own 2 houses. and refuse to sell one at a profit while going deeper into debt. hrmm,,flip a coin. Heads you lower the price to 7% profit of original investment, tails you lose everything.
Case closed.
2007-01-25 02:48:00 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Don't ignore the lenders or you will lose both houses
Get your Husband to find out what the options are now.
Foreclosure should be giving you a big message, If you don't straighten things out now, you will get lose your other house, and fees and interest will be coming from everywhere.
Get advice Now !!!!
2007-01-25 04:54:30 · answer #6 · answered by bob shark 7 · 0⤊ 0⤋
check out this site, it let's you shop for different debt elimination offers and select one that suits you perfectly!
2007-01-25 07:33:01 · answer #7 · answered by big x 1 · 0⤊ 0⤋