Just sent letters - now what
We stopped paying all our bills except the most urgent ones in April and May. Our debt is significant $75000 unsecured w/ Bof a and $10000 other unsecured. I am a realtor- and the $75000 os debt incurred from marketing a condo converstion that rolled out a year late and went back to leasing. Up till May our credit had been between 750-780 score for 32 yrs of marriage.
The combination of the r.e.market and my husbands health issues (another operation is scheduled for 7-24-08 ) left our finances in a mess.
Anyway, I sent a letter 6-10-08 (certified) to each creditor letting them know we could not pay them right now and would have to depend on r.e. commissions for to retire any of their debts. I am working r.e. during the day and work for a major bank in a call ctr from 1 to 10pm.
In the letter I told them not to call - but left my e-mail address for correspondence. I am still getting 6-8 calls per day. What do I do now? Do I just let them sit-unpaid until I have the money to settle? Thanks for the advice