“Dear Steve,
My wife Shantell has two unsecured credit cards from Chase Bank. Her debt on the cards totals about $23,000.00. They are threatening to sue her on January 14 if she does not pay almost $2400 on the largest debt upfront to have the debt removed from the hands of the attorneys so she can deal directly with Chase.
We are willing to repay the debt, but they want more than we have upfront and are driving us nuts with constant phone calls.
What can we do to get Chase to give us more realistic terms for repayment? We want to avoid bankruptcy if we possibly can.
David”
Dear David,
The only tool you have to legally make them either accept a repayment plan you can afford or eliminate the debt is bankruptcy.
You have unfortunately now discovered why the leading cause of bankruptcy is collection pressure by creditors or collectors. It is obvious you want to pay what you can afford but you can’t afford their demands.
I’m afraid I am not convinced Chase will actually recall the debt. I would not be surprised if that isn’t a hollow promise to get you to pay something.
If you don’t feel you can come to some mutual agreement with the law firm that you can afford then I would take the money you would have paid them and give that to a bankruptcy attorney. Click here to find a local bankruptcy attorney you like. Make an appointment and you and Shantell should go see the bankruptcy lawyer together. Don’t go with the intention of filing bankruptcy. Go to learn what bankruptcy would mean to you in your situation.
Rather than getting intimidated by the collector, get informed and find out what legal tools you have to stop the suit, prevent a garnishment and get this matter resolved. It has obviously been going on for quite some time.
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.
Do you have a question you'd like to ask me for free? Go ahead and click here.
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