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Should I Go With Bankruptcy or Fast Track Debt Relief? – Paul

Hello,

Chapter 13 or fast track debt relief.

I have a lot of credit card debt, (i.e. home improvements, dog vet and hospital bills, etc etc), my wife has 16K and has already paid off two cards, we have joint home depot and lowes bills of 18K. The total of all this is a whopping 130K! yes, i was out of control, and the banks raised my rates after we helped them too. my minumum payments were half interest and i couldnt pay more than the minimum as i had too many revolving debts.

I have spoken to a bankruptcy lawyer regarding this and wanted to file myself, they take the household income and even though my debt was not my wifes they still consider it that way so they said she should be filing with me. Because our household income is above average we do not fall into Chapter 7 and would have to do chapter 13.

The lawyer says we would have to file chapter 13 but I feel bad and am trying to find other options other than bringing my wife down with me as she has been snowballing her own CC payments and will now have to deal with bankruptcy. how much will a bankruptcy 13 damage our credit versus debt relief? also, i have heard of scams with the debt relief which makes me think we should just do it (the chapter 13), get it done, then try to get our credit up again. Thank you for your prompt response in advance.

Paul

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Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • ComplianceSlave

    Paul- I say this without hesitation. Legal Helpers will help themselves to your money. I don’t know who Fast Track is (see below) but my guess is they are an affiliate sales company. DO NOT GO WITH A COMPANY THAT CHARGES FEES UP FRONT. NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT!
    debt settlement, when handled correctly, can be a good alternative to a CH13. So long as you go with a PERFORMANCE BASED COMPANY- that is, a company that is paid a % of how much money they actually save you! With Warmest Wishes, Susan Slavinski is going to tell you that u have 4 options, Debt Settlement, Debt consolidation (both of which she can sell you), bankruptcy, or To continue to pay your minimums,….. She will then tell you that BK will hurt your credit the most, you can not afford consolidation, and that paying your minimums will take you up to 20 years to pay off your debt….
    If they are an affiliate for an attorney, they should hold NO opinion to your options. MY opinion is that they will not be in business in 1 year. But that;s MY opinion. She won’t direct you here… http://www.bbb.org/chicago/bus
    Check with the lawyer, The 13 will be a repayment plan so get the details from the lawyer on cost & what is involved & the effects & then talk to a debt settlement company that ONLY GETS PAID A % OF WHAT THEY SAVE YOU.

  • http://www.ftc.gov ComplianceSlave

    Paul- I say this without hesitation. Legal Helpers will help themselves to your money. I don’t know who Fast Track is (see below) but my guess is they are an affiliate sales company. DO NOT GO WITH A COMPANY THAT CHARGES FEES UP FRONT. NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT! NO MATTER WHAT!
    debt settlement, when handled correctly, can be a good alternative to a CH13. So long as you go with a PERFORMANCE BASED COMPANY- that is, a company that is paid a % of how much money they actually save you! With Warmest Wishes, Susan Slavinski is going to tell you that u have 4 options, Debt Settlement, Debt consolidation (both of which she can sell you), bankruptcy, or To continue to pay your minimums,….. She will then tell you that BK will hurt your credit the most, you can not afford consolidation, and that paying your minimums will take you up to 20 years to pay off your debt….
    If they are an affiliate for an attorney, they should hold NO opinion to your options. MY opinion is that they will not be in business in 1 year. But that;s MY opinion. She won’t direct you here… http://www.bbb.org/chicago/business-reviews/attorneys-bankruptcy-and-taxes/legal-helpers-pc-in-chicago-il-19002836
    Check with the lawyer, The 13 will be a repayment plan so get the details from the lawyer on cost & what is involved & the effects & then talk to a debt settlement company that ONLY GETS PAID A % OF WHAT THEY SAVE YOU.

  • Steve Rhode

    Great! Can you please comment on why some people have some disturbing criticisms of Legal helpers then? You can find them here.

  • Sslavinski

    Paul,

    I am a Sr. Debt Specialist for Fast Track/Legal Helpers who is the largest law firm we have partnered with as of 10/27 when the new laws came out throught the FTC. Please call me and I will be happy to explain the difference in choices you have available and the truth on how the 4 options affect your credit. I have been in finance for 16 years and have total faith in the decision to represent this company. 1-888-332-8004 ext. 246

    With Warmest Wishes,

    Susan L. Slavinski

  • Sslavinski

    Paul,

    I am a Sr. Debt Specialist for Fast Track/Legal Helpers who is the largest law firm we have partnered with as of 10/27 when the new laws came out throught the FTC. Please call me and I will be happy to explain the difference in choices you have available and the truth on how the 4 options affect your credit. I have been in finance for 16 years and have total faith in the decision to represent this company. 1-888-332-8004 ext. 246

    With Warmest Wishes,

    Susan L. Slavinski

    • http://GetOutOfDebt.org Steve Rhode

      Great! Can you please comment on why some people have some disturbing criticisms of Legal helpers then? You can find them here.

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