in debt, of course...question
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| Sat, 01-22-2005 - 1:43pm |
I was in the process of filing for bankruptcy...but just before I actually
filed I was told by a lawyer(not my lawyer, of course) that bk, chapter 13
actually, would be a mistake for me. He said my husband makes too much
(I don't have anything close to a steady income) and that we own a house (with
only about 16k equity...bought not too long ago). I owe 38k in cc debt,
all unsecured, and haven't paid minimum payment for so long I'm now
considered a charge-off on all the cards but one. (6 cards). I was advised
to pour money into debt, try to borrow the rest and sell the house (which we
were going to do anyway, but in the fall after we have some more equity
and have done some remodeling so we can ask for a higher price). I just
called cccs, and while my sister had a great experience: she just filled
out forms, and they did the rest, which included contacting all owners
of debt to get the debt "back in house" because it's easier to deal with
than collection agencies. In fact she was told not to take calls from
creditors anymore. With an original 15k debt she pays $183/month and that's
it. My experience: first counselor wouldn't help me at all unless I got
all info for her. The second couselor did a credit check and told me to
contact all debt owners, talk them down and he would see what he could do.
I'm going to call back and demand the same treatment as she got. I'm going
to run through counselors until I get it.
Anyway, here's the question: if I pay whatever I can to cards, until I
can find a decent counselor...anywhere, doesn't any payment count toward
my debt? If I am showing a good faith effort to pay, don't have my name
on the deed of our house, and keep an extremely small amount in my husband's
and my joint account (he can have one for the rest of the money)...oh, and
don't have job, what could a credit card, if they decide to sue, get from me?
I want to pay this debt back. Two times before, when my debt with cc's reached
30k I was able to pay it off in full all at once(stock, etc). I don't like
being a deadbeat. Will it mean anything that I'm paying what I can? And that
I've tried to reach some cc's to lower interest, whatever...and gone to a
credit counseling agency? (non-profit). Oh, I can't borrow from anyone, and
I will not take out an equity loan.
Thanks
