Posted on: 22nd Feb, 2011 05:19 pm
Heres the story... Excellent credit rating, held a great paying job for 20yrs. 5 yrs ago loss my job and took over the family business. First two years were good then BAM business slowed. The business itself could support itself well but all the personal debt I built up is killing us.We cut all the luxury items and downgraded vehicles to save money. I have approx. 50000 in credit card debt. We have a good loan on our house with a 2nd also, both with good interest rates. We have one car payment that we are upside down on. I have currently made all my payments but have been forced to still use the credit cards to survive. Our income is below the median level for Florida. Just another curve ball... my daughter just got excepted to a major college. Great but oh no!! what are we gonna do? I know I cant continue like this and I will not be able to pay the bills this month.
Should and can I file?
Thanks!!
Should and can I file?
Thanks!!
Hi schumans!
Welcome to forums!
If you want to get rid of the unsecured debts, then you can go for the option of debt settlement or debt consolidation. This is a much better option compared to bankruptcy. However, if these two options do not work for you, then you can go ahead and file bankruptcy.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you want to get rid of the unsecured debts, then you can go for the option of debt settlement or debt consolidation. This is a much better option compared to bankruptcy. However, if these two options do not work for you, then you can go ahead and file bankruptcy.
Feel free to ask if you've further queries.
Sussane