Posted on: 11th Oct, 2010 08:11 pm
I became disabled 8 years ago but kept hoping I'd get better. Finally sold my home and bought much smaller in order to pay my credit card which I had been surviving on. Still didn't get better, went thru all savings, 401k, sold everything I could to survive and had to start using credit card again. Finally applied for disability and after 2 years it was awarded. But in the meantime in order to survive, I ran my credit card up to $20,000. With the amount I get a month, there is no way I can afford the minimum payment of $450. I have no other significant debt except for this credit card (my home is paid for).
I live in Kentucky and am scared wondering if the CC can take my home. It is all I have left. If I file for bankruptcy, will I lose my home because it's paid off?
For 8 years I have struggled with survival, unable to work. What can I do to deal with this one debt so I can begin to survive on the small monthly disability payment?
I have gone through so much in my life, once working 5 jobs to make sure my bills were paid and never asked for any help. Now I can't deal with much of anything and am worn out with just worrying about keeping my home so I will at least have a place to live
Please help me.
I live in Kentucky and am scared wondering if the CC can take my home. It is all I have left. If I file for bankruptcy, will I lose my home because it's paid off?
For 8 years I have struggled with survival, unable to work. What can I do to deal with this one debt so I can begin to survive on the small monthly disability payment?
I have gone through so much in my life, once working 5 jobs to make sure my bills were paid and never asked for any help. Now I can't deal with much of anything and am worn out with just worrying about keeping my home so I will at least have a place to live
Please help me.
Hi Clloyd,
As your home is paid off, if you file bankruptcy you may lose your property. The trustee will sell off the property in order to pay off the creditors. You can contact the credit card company and try to settle the debts with them. If the credit card company offers a better repayment plan, then you'll be able to pay off the dues and don't have to file bankruptcy.
Take care.
As your home is paid off, if you file bankruptcy you may lose your property. The trustee will sell off the property in order to pay off the creditors. You can contact the credit card company and try to settle the debts with them. If the credit card company offers a better repayment plan, then you'll be able to pay off the dues and don't have to file bankruptcy.
Take care.