We are currently $72,000 in credit card debt and personal loan (Capital One). My husband is quite ill and had to retire. I have been current on all my debt and paid it down considerably over last 2 years (I have paid aproxx $20M0 Now with my husband not working I don’t thinkI can hang on.
Have you heard of Consult America who is related to Credit Advocates Law Firm.? They have given me a proposal for what they call a “financial hardship program” whereby they will work with creditors to settle debt.
They say they are not a standard settlement company and that they handle any and all summons/lawsuits that might result. They claim the have excellent relationship with all of our creditors and they wouldn’t “accept” us if they didnt. They have a 36 month program whereby they show us being debt free at the end of the program. They sent me papers and said I have to meet with a local attorney or paralegal to go over it all before program can start.
I dont’ know what to do. I am afraid I will not be able to continue the $2900 a month I am paying all the creditors. The big one is $827 in a personal loan to Capital One for 2-1/2 more years. and also BOA of $510 a month for 3 more years. I bring home approx $60 00 a month. We have a first and second mortgage of $1600. Our 1st will be paid in 2-1/2 yrs. I can’t get anyone to talk to us about refinancing and using equity in our house because of our debt to income ratio. Do you know if these people are reputable and do you have any other suggestions. I am about to lose my own health over this mess.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.Is Consult America And Credit Advocates Law Firm My Best Solution? - Robin by Steve Rhode