Credit card debt with judgments and collection agency.?
hello. I am in deep credit card debt. About $20,000 to $30,000. My safety box, by bank account and etc are frozen. I get court orders a lot. I have so many judgments against me. My debts have gone to the collection agencies. I recently received a Marshals letter for levy. I also own a house which is my primary residence. I need help. Can someone please suggest some ideas. Can you give me some websites where I can read on what to do? How can I bargain if I can? Where can I get help from? I am lost. Someone please help out. I greatly appreciate it.
THanks in Advance
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You should talk to a bankruptcy attorney and see if you qualify for either bankruptcy filing. That way you either get fixed payment plans or elimination of debt. If you want to keep the home you can usually exclude it from the bankruptcy. Depending on the state and type of bankruptcy they may or may not lien your property.
No one on a website with such limited information can give you accurate advice.
Have you thought about filing for Chapter 7 bankruptcy? Consult a local BK attorney to see if you can qualify to file. Honestly, after debts have gone to court and judgements have been issued, there aren’t any tricks or gimmicks to get around paying the debt. If you don’t want to get a 2nd mortgage on your house to pay off the debts, then Chapter 7 (or 13) might be the only realistic options.
Sounds like bankruptcy is your best option
Just because you are in collections, it does not mean you are bankrupt yet. You need to get on the ball with the creditors and work out payment plans with them. Try to talk to an attorney for the company’s that are filing suit against you and try to work out a deal with them before you are forced to pay by a judge. Go to http://www.daveramsey.com and learn how to manage debt and money. Get on a budget.