I am in horrible debt right now due to cancer treatment and how it has affected my job. I am self employed, and have fallen behind in my credit card payments as well as my mortgage and income tax. I am down to $100 in my bank account and have no credit.
I am not sure if I should declare bankruptcy or go to a credit counselor, as my credit is completely shot, but it seems as if you don’t like ANY of the credit counseling services out there. Are there any good places to go for debt counseling/management?
Based on what you’ve shared about your situation the most likely solution is going to be bankruptcy. However, recent tax debts and your mortgage can’t be discharged in a bankruptcy.
It sounds like your situation is the result of not having enough income. If that is the case then you need to consider if you don’t have any equity in your property if now is also the time to turn the house back over to the bank if you can rent for less money than is costs you for mortgage and running the house.
I can’t see how credit counseling would benefit you enough to free up much money and right now it’s cash flow killing your financial life.
If you want, you can click here to find a local bankruptcy attorney. Once you locate an attorney, go talk to them about your situation. The consultation is typically free and the advice is priceless.
If your medical expenses are ongoing right now you may want to hold off on bankruptcy and roll the remaining medical expenses into your bankruptcy latter.
Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.