Drowning in debt - trying to avoid bankruptcy - help
Tue, 11/22/2005 16:50
I have $42,000 credit card debts and $10,000 of medical bill that is due. Since I had been passing through a hard time, I took few payday loans. Now situation is even worse than worst. Continuous collection calls have made me tense. Payday lenders are threatening of wage garnishment. I have to pay a lump sum each month to my ex-wife that I cannot stop; otherwise she would be going to court. I have no other way out but bankruptcy. I know bankruptcy will ruin my credit, though it's already damaged enough. Can you suggest any alternative? I don't have any property as such. What should I do now? :?:
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.