I’m a Real Estate Agent That Lost All Income. – Kris

“Dear Steve,

Hi, as real estate agent I lost all income, getting a loan reduc mod for mortgage now, I have about 7k in debt. just years of paying minimum or barely over minimum is getting us close to nowhere. I am getting some activity for work but no closings. I found pt work at 450 a month. husband has steady w2 job only 2100 a month. we need 5k amonth for bills and gas food. we are thrifty to the max and have been. help we are drowning!

Is there a way to get our balances down? I cant get banks to lower % rate or lower principal, they are rude. I have never bk’d and always paid my debt, I just want to see the llight at end of tunnel. I’m 53 not 33, need relief.


Dear Kris,

The reality is the only legal option you have to reduce the debt and stop interest and will give you legal protection from creditors and debt collectors is under bankruptcy. I sense you have an aversion of bankruptcy but it seems that your aversion is based on emotion rather than fact.

People that file bankruptcy are not losers or rejects. They are people that can’t find reasonable relief and thus seek the legal protections that bankruptcy offers.

I urge you to go immediately to a local bankruptcy attorney and discuss your situation. You can click here to find a local bankruptcy attorney that you like. Talking to an attorney does not mean you are going to file, it means you are going to get a consultation.

Under your current situation I don’t see how a loan modification is going to be beneficial. How can you afford your mortgage when you are so short each month?

As far as the light goes, it’s glowing brightly but it’s coming from a lamp labeled bankruptcy.

Please update me on your progress by

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.

Damon Day - Pro Debt Coach

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