I hate to admit this publicly, but I'm 25,000 in debt to 5 credit cards. I stopped paying about a year ago and have not been sued yet. I was off work for 18 months with a bit of temp work. I lived off my credit cards and my savings and 401K. Presently, I don't have a savings account and 401K is gone. I'm scared to death. I tried calling a consumer credit counseling, but the payments were way too high. I've avoided this mostly by not answering the phone, of course they are bugging the hell out of my brother. Thank god they don't know where I work. So, I've made a resolution to deal with this. I answered the phone today for the first time and it was MRS associates. They didn't scream or yell or anything horrible like I was expecting. I tried calling 2 different bankrupcy attorneys, but can't afford their fees. It costs about $1600. I am able to file for Chapter 7. One lawyer will take $200 payments. So, my question to all of you would be, if you were in my shoes, what would you do. I have a 2004 Volkswagon Golf that somehow I've been able to keep, but my insurance is due at the end of September and I have no idea how I'll pay it. I need my car to get to work, no public transportation where I live. If I get sued, can they take my car. Any advice would be helpful.
Take a deep breath and think this through do you think that you can pay this over 5 years.If you can't then the choice is to bk 7.there's no way unless you can work out something with the creditors.If you file bk you can keep your car.this well pass and you can go on with your life.we had to file and 6 months later and with the advice of a lot of people on this forum we made it through our bad time and have started rebounding.we tried the credit con.and it's throwing good money in the fire.Doesn't help your credit rating or score.However what you chouce to do is up to you.
