Has anyone ever tried this?
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|Wed, 02-25-2009 - 8:57pm|
Okay, I'm beginning to re-think my bankruptcy filing. I think we can scrape together about half of what I owe to my cards. What if I called all of my creditors (all credit cards...all about 60 days behind) and told them honestly that I am about ready to file Ch 7 but if they will reduce my balances by half I can pay them in full and will close the accounts? Is this going to be just as bad for my credit as BK would be? The reason I am balking with filing to be honest is that I am terrified the trustee will either take our house or force us to pay the equity to him, which in the end would probably be almost as much as paying the cards off (if they will go for this).
Anyone tried this? What do you all think?