Need Advice...Debt Settlement PLUS bankruptcy??

Discussion in 'Credit Talk' started by burba, Jul 22, 2015.

  1. burba

    burba New Member

    Hello. First time poster here. Story in a nutshell....got in over our heads in cc debt thanks to "job restructuring". Filed and approved for debt settlement last week. Did the finalcial hardship worksheet and come to find out monthly earnings are $3250 while monthly expenditures are $4500!!!

    How were we ever approved for this debt settlement? I even asked the guy what happens if we cant pay into it and he swore that financially we can afford this for the next 48 months. We cant....unless we default on our mortgage or other bills.

    Do we file for chapter 13 NOW? Do we pull out of the settlement agency first and foremost and then declare chapter 13? We have been with the settlement agency only for 1 week and we can still opt out....so we were told.

    We are really confused here and dont want to lose our home. If we dont act now we are going to lose it. Things are spiraling out of control. Need any direction anyone can provide.

    We contacted a bk lawyer for a free consultation but are waiting on the return call. Unsure where else to turn. Some folks r telling me settlement agencies r a scam and we can settle ourselves but the whole purpose for signing on with them is we dont know how to settle and more importantly we are paying the agency monthly insurance for lawyers, if needed.

    So confused. Please help!

    Thank you for your time.

    Sincerely,
    Steve
     
  2. burba

    burba New Member

    Wow, not one ****ing reply.....time to go eat a bullet....bye....
     
  3. Bbiendayer

    Bbiendayer Member

    Dude you have done every damm thing that can be suggested.
     
  4. Fl2BoysMom

    Fl2BoysMom Well-Known Member

    Hi Steve,

    Calm down. First of all, pay your mortgage. And your car payments if you have any. Information on how to settle can be found all over this forum. I'm sorry you didn't get answers sooner. It's been kind of quiet in here lately.

    If you can list your bills and income, I can try to help you. You can also PM me.
     

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