NEW DEBT LAWS- included in Bankruptcy Act of 2005 READ FIRST
debt
[font=Arial][/font][size=3][/size][color=Red][/color][color=Red][/color]You have MAJORLY helped me with some 'decision making', with this post!! How informative! :P Seems like alot of Settlement Companies want to charge you an 'arm and a leg' to 'help you out'. To answer your question..you HAVE helped someone..ME!! Thanks. :roll:
Debt Settlement
Sometimes you have to choose debt settlement if you want it all to end. I could have filed bankruptcy 13 and taken 5 years at $2500 a month to pay off my debts; however, my income is not consistent I would never have survived the bankruptcy 13; many people who file do not make it and don't get a discharge. So I'm settling my own debt - a very high stress thing to do and I borrowed from my 401k plan - a choice I had to make after consulting with a BK attorney.
Whew... at least i helped 1 person... i can die a happy man! :l
Whew... at least i helped 1 person... i can die a happy man! :lol:
But really, thank this forum for being here! :wink:
...it's where i started after the shock of having "$3X,xxx.00 in credit card debt!" :shock:
but it took a few weeks, and a lot more than this forum-
if you read my first few post, you'll notice, i had my head in the sand like many others...
i didn't do our bills- the "secretary" of the family did them, and i stood by helplessly until now!
as i did a budget, i saw how much it really takes to get a family of 5 -FED, Clothed, to the Dr.s, Etc...
it all added up to 12 years of interest at 20% for the few things we have, (some funiture, some dvds, but the most was food and supplies- necessity's! with NO MAJOR ASSETS)
...we eventually used credit cards to pay off credit cards, then loans to pay off more credit cards, until our income surpassed the (NEGATIVE) -$1500 mark... thats when i was called in...
Bankruptcy cost= $299 to file for us together...
in 2-3 years we can SAVE those "Payments" we would have been making to the "DEBT FUND" and have $15,000 save up for OURSELVES...
sounds selfish doesn't it... Well in the Bible it reads- Forgive your brothers debts every 7 years... and that's why our forefathers GAVE us this RIGHT in the Constitution!
They knew everyone could be ENSLAVED into debt- its the GREEDY that ruin it for the rest!
i feel i've paid the CC companies for 12 years at 20% interest = we could have PAID for a NICE home by now JUST in THE INTEREST- if we paid for everything with CASH!!
-these banks get paid so much... they are taking over the "70's" cigarette ad spots- Nascar, etc..
so much now that all i see at Sport EVENTS like Racing, and Baseball is... "CAPITAL ONE CARD" ad's-
Whats in YOUR wallet? XXX-BANK Ads! "Get that LOAN NOW!"
...in the past 12 years of trying to "BUILD our CREDIT SCORES!" to get the house, nothing has worked. EXCEPT US!
(2 jobs for her, My night job that makes MORE, and i stay at home all day and raise them!- we don't do daycare, can't afford it!)
The cost of trying to keep our "Good Credit" and repaying all that debt totaled "$XXX,xxx.00"
so do i REALLY want to Put more into the DEBT MONSTER we've created...
NO, i have Sinned, i admit that, and the courts can forgive me! now give me my life back, thanks!
i have kids that need a future... not a good credit score! Live and Learn!
From now on, its DEBT FREEDOM or BUST!
God Bless!
:wink:
Quote:and I borrowed from my 401k plan - a choice I had to make
Quote:
and I borrowed from my 401k plan - a choice I had to make after consulting with a BK attorney. |
Lawyers are wrong some times -
in 1996 i had an attorney screw up my workmans comp case- instead of my $60,000 settlement, he missed some deadlines...
after passing me off to another attorney, we got a few low-ball offers from the ins company... waited another year... we settled for 1/5 of what a "Normal Case" would have... my back/medical wasn't even covered, my truck was repossessed (after they rebuilt it)
so i had to declare bankruptcy in 1997- that's why i wasn't "allowed to do the budget" for the last decade plus!
ALL LAWYERS ARE NOT THE SAME, and some are not even COMPETENT on the laws they think they know! i'm living proof!