I'm thinking of filing for bankruptcy. I have over $25,000 in credit card debt, am behind on my house payment, and my husband hasn't been making as much as normal due to less work.
My only problem is that it costs so much to file. I'm afraid of getting sued, and a couple of the creditors are talking about sending the debts to a lawyer. I can't come up with the $1500 it would take to hire a lawyer anytime soon. But since we do have income, we don't qualify to file for free.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.