Wealth Review News

Bankruptcy or Consumer Credit Counseling?

Wealth Review News — Sun, 04 Jul 2010 03:03:23 +0000

I have several cards from my college days. (10 yrs ago) and I put them in CCS about 4 years ago and they still aren’t paid off. I then married and my husband’s debt became our debt and now I am overwhelmed. I had to stop making the CCS payments when he lost his job in June and now that we’re starting to get on our feet again I need to decide to re-enroll in CCS or file bankruptcy. Our debt is in the thousands. I’m 29 and he’s 25 and we do not have any children, if that makes a difference. Is there a website anyone knows about that can help me do the pros and cons or maybe even a bankruptcy lawyer on here. I need help b/c I cringe when the phone rings.
I am In the US in the state of Arkansas. I will have to add up all the other debt to get a total and I have nothing of value. I rent my house, GMAC owns my car. I am a student and my husband just got a job after being laid off for 2 ,months. My previous payment was 0 a month but that doesn’t include the 4 additional cards we used . we paid bills using our credit cards and now we’re sunk. i can’t really afford to go back into CCS but I don’t want to ruin everything by filing bankruptcy. Does that make since?

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Wealth Review News — Mon, 28 Jun 2010 03:02:44 +0000

i filed chapter 7 in oct 2002. now an ex love helped to me in trouble again( around 15-20 thousand). my credit was back on track until the last 6 months and now am in desperate situation. which option would be best for my situation: filing chapter 13 or going to consumer credit counseling? i am aware both will have negative impact on my credit rating but which is worse? also, can payday loans be included in the debt listings too? i really need some helpful advice on this and has me really stressed =(

helpful advice only and please keep the bashing to a minimum. thanks to all =)
yes i do have more than financial problems. thanks for pointing that out

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Wealth Review News — Sat, 26 Jun 2010 03:01:34 +0000

I am recently divorced and because of said divorce have had to set up "home" from scratch. Im 39 years old. I am renting an apartment so I have no equity in a house and I have no real assets. My credit cards are max’ed out and I am beginning to struggle to meet payment. One account has interest raised to 32% and has a balance os around 7500. My total dept is out of control and just to live and pay the bills, i’ve had to charge my gas and food on occasions. Well now I am running out of credit. I see my options and being bankruptcy, credit counseling or tryin to negotiate my accounts to lower rates and terms. I doubt I can negoiate balances. 2 years ago I had a credit score of 680 to 720. now i doubt im over 600. I’d like to be able to purchase a house but need to get out of revolving dept. WHat hope to i have and anyone dealt in similar circumstances?
Main reason I want to pursue getting into a modest house is that my rent payment is equal to a house payment. which would be a positive investment while maintaining the same cash output. And I am considering property tax as well.
And I am in North central ohio.
I could not find the law regarding max. interest rates

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Wealth Review News — Tue, 22 Jun 2010 07:46:56 +0000

If I’ve already decided that I want to fill for bankruptcy, should I waste my time and there’s going to see a credit counselor before if file? I have an appointment to see one, but already know that I don’t intend to pay back all these bills, even if he says I can afford too, over the next 5 years. I already know how to manage money…. I did it for 30 years without a problem, before my job was downsized, and can do it again once I get rid of this house payment. What do you think I could gain by going, before it’s mandatoried through the bankruptcy system?

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Is it better to file bankruptcy to get rid of a large credit card balance or use a credit counseling service?

Wealth Review News — Wed, 16 Jun 2010 03:00:33 +0000

This question is related to my Mom who has a very large balance 00, and because her income is limited, the interest is eating her up! She lives with me now, is nearly 70 and never plans to buy a house again or car. I’ve recommended CCCS because they will at least stop the interest so she can finally make a dent in the balance when she pays her 0 a month (all she can afford). Her brother told her to file bankruptcy, but I didn’t want her too.