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I am in the state of Georgia and since debt settlement isn't an option here, it seems to me that filing bk is about my only option and chpt 13 is what I am considering. I would like to hear your stories about the experience, amounts you owed and how much your payments were. I have about $34000 in unsecured debt. From 3 home business start ups in years gone by to a job loss last year. Supplementing income with credit, saw no other choice at the time. There are tales of DIY settlement, but I don't have thousands of dollars saved up to settle myself. Lower payments is what I need. So please, any input would be appreciated.
Also on another message board someone posted to me that a lot of Chapter 13's fail and I was wondering why that was, and if that is true.
Thanks




Yes, that is true. The majority of Chapter 13's do fail.

They fail because of many reasons. One I know of, you will continue to accrue debt after filing. So you will have to pay all your normal stuff, plus your BK payment. What happens when you dishwasher breaks? You can't not pay your BK payment.

Sub: #1 posted on Mon, 08/18/2008 - 19:29

goudah2424 goudah2424

(Posts: 7936 | Credits: 1224.91)

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