Intro and debt trouble question (m)
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|Mon, 05-19-2003 - 11:28am|
So here we are...getting caught up on our mortgage and trying to get caught up on car loans (a month behind on everything). We will rectify the mortgage this month b/c we are taking full advantage of the extra paycheck.
We were on CCCS, but the payment was just too high (we were classified as a two FT income family). I called and asked about reassessing us and adjusting our payment and was told that we should just file CH. 7. Didn't want to do that...but at the same time...once CCCS stopped the draft to pay on our accounts...we weren't paying either b/c we just haven't had the money. I'm trying to scramble to pay the secure debt and our utilities.
We were told by CCCS (a new rep) that they would close out our account and we should then reapply with our current income. But we haven't done that b/c it requires a payment and I want to get our secured debt on track first.
So...we got a note from a law firm (a shock to us) for one of our credit cards. They want to settle the account. We cannot settle on a lump sum. I guess we could arrange a payment plan or a settlement amount and then pay monthly on that? Anyone know how this goes or what we should expect? I was thinking automatically that this forces us to file Ch. 7.
Thanks for listening and offering any knowledge on this that you might have. We were hoping to reapply to CCCS in July. We are already 3-4 mos in arrears on our credit cards.