Covid financial meltdown has caught up to us. We have an unsecured personal loan and two credit cards with balances and payments that we can no longer shuffle if we want to keep making house and car payments while paying down other creditors. Do we go Chapter 13, 7 ? Do we just not pay the creditor and keep everything else current? The calls have started from the creditor themselves...do we tell them we are in trouble? We were in the 760 range when covid hit..the family on lockdown overseas for a year while I paid two households......a year ago lost job and now make 50% less.....it was only a matter of time I was able to shuffle the debt. Any advice? I know a bancruptcy lawyer would love to take my money, but we need to not be in a prepetual problem.
Sorry to hear about what you've been going through Scaramouche. I wouldn't be quick to jump into conversations with banktuptcy lawyers right away though. My recommendation would be to keep paying the mortgage/car payments for sure. How large is the unsecured personal loan? And what kind of combined debt are we talking about for the 2 credit cards? Are they showing up on your credit reports already as chargeoffs?
