Looks like a Chapter 13 for me
I contacted CCCS and they said I would have to reduce what I spend every month by $640.00. I was able to get down to $580 a month, plus, in January, I will be taking a $120 a month pay cut. So, I guess this is not an option for me. The plan was for 50 months and even if I could afford the $640 a month, monthly payments, that would leave me with nothing to put a way for emergencies.
I thought about debt settlement (this is how I found this board) and was referred to Oakview Law Group, but from what I read from just about everyone on this board that no debt settlement company is worth it. I have been in contact with Oakview, but there is that trust issue. They said they could settle my debts down to $11,000 and I do understand the fee structure, which I am fine with, but no one seems to think that this company is legit. There are tons of posts about debt settlement on this board and no one will give a clear answer about any of them, other then, you can do it yourself.
I would do it myself, but I really don't know where to begin. I have read that you have to be 3 months behind in payments to begin the settlement process and by the time I save up enough money to settle, I am sure my butt would be in court.
So, I have been in contact with a Bankruptcy Lawyer and she said since my last chapter 7 was discharged in 2001 (my ex-wifes doing) I cannot file a chapter 7 until 2009. Sadly, I cannot wait that long. I think it was discharged in either May or September of 2001.
She told me her upfront fee is $800.00, plus the filing charges and she seems to think because of my income and debts, she can get me a low monthly payment for 3 years.. If it's low, I hope it is around $300.00, but I need to call her this week.
I still don't like the idea of going through Bankruptcy, but my hands are tied and I am sick of all the worrying about money..
By the way, I find it funny that this site referrers you to a debt settlement company when you signup, but they cannot say if the company is legit or not. They referred me to Oakview, which requires an upfront fee of $100 per account, plus $50.00 a month, but this website says not to deal with company's that ask for money up front.
Kind of strange, don't you think?
willldecided, first of all no one posting on this forum would
willldecided,
first of all no one posting on this forum would like to see you file BK. Second, debt settlement works great for those who have money to settle accounts, I myself do not care for the three year programs most debt settlement companies advertise, I have seen way too many people get burned by joining these programs. I know many here will suggest you sign up with the companies they endorse simply because that is what they do.
It is funny this forum refers people to the Oakview law group, if you read further into this blog there are allegations that this forum's owner either works for them or owns the law group, that is not for me to judge.
I believe if you have to wait until next year to file BK, you can start learning how to settle your own debt, maybe by 2009 you can settle a couple of your accounts and lighten your load. If you want to learn about debt settlement simply google the keywords "do it yourself debt settlement'' etc...
I too do not believe if anyone is in debt they should pay upfront fees to get help. I hope you visit the do it yourself sites and if any just learn to do yourself what you would have to pay these other people to do. good luck.
I agree with the previous post, no one would advocate or suggest
I agree with the previous post, no one would advocate or suggest you file bankruptcy, also if this forum is a way for someone to get good leads, will all of us coming into this forum have a choice to do business with their affiliates or not. Simply gather the best information possible from this forum and make an informed decision.
Doing debt settlement yourself will be a bit time consuming and could get tricky in some places. Most do it yourself companies will offer the extra feature of coaching people on how to settle their debts, in other words they will basically take you to debt settlement college. It is a cheaper alternative to a debt settlement program and you will always be in control of your situation, if this sounds appealing to you I suggest you do some research before deciding to file for bankruptcy.
Submitted by Alexander J Heredia on Sat, 10/04/2008 - 06:52
Will, you have to wait until 2009 to file another Chap 7, howeve
Will, you have to wait until 2009 to file another Chap 7, however, you can file a Chap 13, which is a reorganization and that is where you will pay x amount for 3 years. In a Chap 13 you pay back something to your creditors - a Chap 7, they are wiped clean and you pay nothing.
Have your lawyer do a means test to see if you would even qualifty for a Chap 7. If not, then 13 would be the way you would have to go.
BTW - I believe you are mistaken about Oakview. I believe they are a good company. Do a little more research.
Submitted by desperatelyseekingsanity on Sat, 10/04/2008 - 12:01
I want to thank everyone for there advice. I know bankruptcy is
I want to thank everyone for there advice. I know bankruptcy is a last resort and I would hate to have to do that. I keep going over my budget, trying to see what I can cut out and save myself some money to go towards my debt.
I will definitely look into doing it myself, trying to find as much information as possible. My only problem is that 2 of my creditors are Capital One (Personal Loan) and HSBC (Credit Card). Wamu, or whoever they are now, I am not too concerned about because my payments are low and come tax time, I can pay that off. From what I read, Capital One and HSBC can be tough companies to work with. I think I can buy myself a few more months and try to learn as much as I can about debt settlement.
As far as Oakview Law goes, I still don't know. I have been doing as much research as possible about them and every time I do a google search, it either leads me back to this board, or there website. Also, there main attorney Christopher Donald Hewitt (if he really works for them), when you check him out on the State Bar's Website for California, it says that he may practice law in the state of Califoria. To me, that is not that reassuring.
I would just like to hear from people on this board who have used Oakview Law and was able to have there debts settled without losing all of there money.