Frantic

I have a couple of questions, having perused the site some.

I saw it referred to that FL and TX are "better" states to be a debtor. Can someone elaborate?

I'll mention just a bit about my situation before the next question. Have about $68k in unsecured (cc) debt. Seriously delinquent on all of it. Circumstances can be explained, if it matters.

One of the creditors of that massive amount of debt, is suing me. Or rather I got a "summons" delivered by officer of the court a few weeks back. An "Answer to" summons, no court date. I can't believe the others haven't filed suit, and they surely will, before long, at least some of them.

I am working with this one creditor (probably did ALL the wrong things, hadn't found this site). The one that is *presently* suing me (others will likely soon follow, can't believe they already haven't), it's a debt of $5800, and with fees etc., comes to $6100. The guy at the atty firm states (verbal) that they will settle the debt for $3800 (which I know is a great offer I should take it), but I don't have $3800. No hope of getting $3800. Option #2) offered, was that they'd take $1200 some odd over the next 3 mos. to settle the debt. Don't have that either. Option #3) was an initial payment of $600, and agreement to pay $184/monthly. The latter is what I chose.

No, I didn't ask for a debt verification (hadn't found this or any other site), didn't know what to do, other than have the beejeebers scared out of me, and stand up and take notice, which is what I did do.

Now comes the next question. That, the summons, got my attention, in a BIG WAY. That got me on the horn with all the collection agencies and cc's that have been chasing me for what seems like forever. Trying to do what I can to get right with all this.

Had no idea it would be so difficult and so convoluted. Some have gone to collection agencies (I have no doubt I owe all this debt, albeit considerably higher at this point having incurred numerous late fees, over limit fees, not having paid in forever, etc. etc). What has proved almost impossible is that I am now obligated (and haven't worked my way thru the entire list of those that I owe), to an amount of $792 monthly, in trying to placate various creditors, including the one above, trying to sue me.

We, in these tough economic times, have had a reduction of income, which is precisely why I got in this mess. Living off cc's (I know, I know, stupid stupid stupid), and then when that failed, and the economy still in the tank, our earning potential with it, ........ default on payment. Now here we are today, many moons later, in a mess.

Why don't I file BK? That's the next question I have. We have for the last several years as we've struggled so hard (self-employed), ........ and that remains, still self-employed (though I've gone outside of that employment and gotten employment p/t, it's all I can find), ........... we have, on occasion, ran monies thru our personal ckg account that hasn't been claimed as income.

So when you go visit a BK atty and he asks that you bring in ckg statements, bring in tax return forms, etc. etc. Well we're gonna have a big problem doing that. The numbers don't jive.

I know that is really running a big risk, and one could now have the IRS at their heels for doing so. And no it's not something I would've ever dreamed of doing, but the last few years (and it continue to this day) have been about survival, not about worrying what might happen if I do this or that.

We do own (have for 20+ years) a legitimate, incorporated, business. And yes we know better than to take income that isn't otherwise expensed in some ways, but read above, survival has been our mode. No excuse, I know. But that's the facts.

So any input on that topic. Can't even file BK, because the tax returns aren't gonna match what is shown as income on tax returns. True?