Posted on: 30th Apr, 2010 03:17 pm
I owe 1 payments behind. it will be more soon. I do not have the money to pay. My problem is last year I was
three payments missed. I paid. now I cannot pay!
I am 62 years old on social sec. my Husbands hours
are cut back. we owe a lot of credit card dept.
We need help! I do not know what to do.
Please I need help! Do I file for chapter 3.
Pleas respond asap!!!!!
three payments missed. I paid. now I cannot pay!
I am 62 years old on social sec. my Husbands hours
are cut back. we owe a lot of credit card dept.
We need help! I do not know what to do.
Please I need help! Do I file for chapter 3.
Pleas respond asap!!!!!
Hi reba,
Rather than filing Chapter 13, you should contact your lender and let him know about your financial situation. May be the lender can help you with a repayment plan under the loan modification process.
You have also mentioned that you are of 62 years of age. In that case, you can apply for a reverse mortgage. You'll have to pay off your present loan immediately as you get the reverse loan. You can also use some of your reverse mortgage proceeds to pay off your credit card debts.
Thanks
Rather than filing Chapter 13, you should contact your lender and let him know about your financial situation. May be the lender can help you with a repayment plan under the loan modification process.
You have also mentioned that you are of 62 years of age. In that case, you can apply for a reverse mortgage. You'll have to pay off your present loan immediately as you get the reverse loan. You can also use some of your reverse mortgage proceeds to pay off your credit card debts.
Thanks