My walk through debt settlement
Date: Fri, 11/13/2009 - 13:20
Right now I have 2 cars one through HSBC for $3516.00 that has been charged off and mercantile has picked this one up I have not had but one offer to settle for $2800.00 and turned it down. The other one is through GEMB for Husquvarna I had to sell the equipment and pay medical bills etc. so the account has been deliquient since feb although they show that I paid prior 2 months Aug., Sept although that I havent. The balance that was owed on this account prior to me having to miss payments was $11329.00 now it is at $13165.00. I have two medical bills left one for $325.00 and the other for $669.00 that are owed on.
GEMB $13125.00
HSBC $3516.00 Original Balance was $2600.00
Doc $669.00
Doc. $325.00
I have sent out verification letters as of today and will await for all that to be returned.
If GEMB would work with me I could probably bring that one back current if they would dismiss all the late charges and get my payments back down to what I was paying.
After Back surgery I got married and my wife had 2 kids and was going to school full time and then my other medical problems came. So this forced me to stop paying those cards and make sure I had a rood over my head and food on the table. Now my wife is back working but with the house debt and car debt its running real tight but everything is current except those bills listed above.
After I receive my verifications back what should be my next step? Also should I go ahead and talk with a attorney or just hold off?
Thanks
Cpalm
One other question should I try and do this settlement stuff fir
One other question should I try and do this settlement stuff first or should I file for chapter 13 bankruptcy? Im trying to avoid bankruptcy but Im scared of getting sued by my creditors.
Thanks
CPalm
did you speak with a lawyer at all? of course a bankruptcy lawye
did you speak with a lawyer at all? of course a bankruptcy lawyer will tell you to go for it but it is really a personal choice. is the fear of being sued your only fear? or do you think the debt will still be too much to handle? you could try to settle first and see how that goes, but if you fear it is taking too long or it is too much to handle you can always speak with a lawyer.
Thanks for the input. Right now its not too much to handle not
Thanks for the input. Right now its not too much to handle not saying that wont change. I am just now starting to try and settle my only thing is if they offer a big settlement I will not have the money put up for the settlement at this point. I have not spoke with a lawyer at all and of course when the collectors call I tell them look im just trying to avoid bankruptcy. I had one collector tell me sir you know how hard bankruptcy is you dont want to do that and you probably would not be able too. I just stress alot over these outstanding debts is the main thing.
Quick question while going through this process say it doesnt wo
Quick question while going through this process say it doesnt work and the settlements dont come and i get papers to get sued is it to late to go file for Ch 13?
Thanks