Before Our Credit is ruined

Budget101 Discussion List Archives Budget101 Discussion List Before Our Credit is ruined

Viewing 0 reply threads
  • Author
    Posts
    • #260924

      Melissa,
      Letting the house go and paying off the credit cards is backwards. We just went through bankruptcy this year. The courts require you to go through credit counseling when you file.

      They told us that the first thing we should have done was stop paying the credit cards . They counselor and the laywer both said we should have been paying the mortgage and letting everyone ( creditors) else go.
      File bankruptcy, it will eliminate altogether or tremendously reduce the credit card and other debt depending on how you file. You can still keep the house in most cases, if you can make the payments.
      Your credit will be ruined but you will still have the house.
      I strongly suggest that you consult a bankruptcy lawyer before you do anything.

      Consultations are usually free. We consulted two lawyers before we took the plunge. For something this serious, you need an experts advise.
      Diane

      Quote:
Viewing 0 reply threads
  • You must be logged in to reply to this topic.

Budget101 Discussion List Archives Budget101 Discussion List Before Our Credit is ruined