Monday, June 12th, 2006
How do I get my debtors to allow me to pay them off on a payment plan and no further interest charges? I have approximately $400,000 in debt, not including several pieces of real estate.
I have no liquidiy due to family medical issues, but do not want to declare bankruptcy although I have no money "for the short term" (say, 6-9 months) even to make minimum payments.
I want to make a deal with the creditors that I am not running away, that they should close the accounts and not charge any more interst going forward, with low minimum payments to be made until it gets paid off (or for a one year period, lets say.)
I am not concerned about ruining my credit; its ruined itself over the last 3 months.
I do not want to declare bankruptcy either.
How would I do this? is it best to go to a place like BuCCs www.buccs.com? or to do it alone? (using a service would make me only need to pay one bill each month instead of 30?)
or to ignore them until it is 120 days past due and then settle?
or let the bills rise until they write them off?
Besides all other moral concerns about owing the money, I do not want my entire family getting phone calls and would not not particularly love process servers at my door.
Since I am posting this anonymously, let me generously beg y'all kind souls not to take this question off topic or discuss its (im)morality.
yes I am aware that just because a credit cousieling service is "nonprofit" that does not mean they are there to help you. (and yes I am aware that many of these agencies are sponsored by the CC comanies themselves.)
What is the best way to get on a payment plan, while stopping all accruing interest?
My health is being severly ruined by this (headache, stomachahes from stress) and I really want to do this tomorrow....
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Monday, June 5th, 2006
In case you're thinking of filing bankruptcy, the home that you live in will also form part of the assets that could be sold in order to pay the creditors.
If you are a part owner of the house, the house will...
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Monday, June 5th, 2006
Bankruptcy would not be just an emotional and mental burden. The consequence of not paying debts will continue to exist long after filing. Congress has worked on legislations making it tougher or impossible for some people to file for bankruptcy.
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Monday, June 5th, 2006
The Labour government has not done much to cap lending or discourage bankruptcy despite all the lip service it pays to doing so.
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Monday, June 5th, 2006
There are different types of bankruptcy, the two most commonly applied by many are the; Chapter 7 Bankruptcy and Chapter 11 Bankruptcy. After declaring economic failure, one can have a hard time re-applying for mortgages, loans, credit cards, life insurance and even a job, so one should get ready to rebuild their credit.
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Monday, June 5th, 2006
This article offers tips on getting approved for a home loan with a bankruptcy on your credit report.
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Monday, June 5th, 2006
Although many people do not seem concerned about avoiding bankruptcy they really should do so if at all possible.
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Monday, June 5th, 2006
Bankruptcy attorneys explain the applications of bankruptcy laws and its applications. If the debtors or their lawyers set off the bankruptcy it is called a voluntary bankruptcy. If the courts initiate the bankruptcy it is called an involuntary bankruptcy. A good bankruptcy attorney will take all the problems away from the bankrupt person or company and deal with every aspect of the bankruptcy.
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Monday, June 5th, 2006
It will perhaps be a little more than obvious if I start by saying that bankruptcy furniture is the furniture that is auctioned when someone declares bankruptcy. The prices are similar to that of a garage sale. In the case of individuals claiming bankruptcy under...
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Monday, June 5th, 2006
Should you ever face the unfortunate experience of filing bankruptcy chances are that you will see someone else who is filing bankruptcy for the 2nd time or maybe even the 3rd time. This simple means that although bankruptcy hampers your credit ratings substantially, it's not impossible to...
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Monday, June 5th, 2006
Hiding behind all the glitz and glamour and what may seem like unusual celebreties are those who get bankrupt fairly frequently, though it's also the case that they come through it quite often as...
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