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I Do Not Want to File for Bankruptcy. I Want to Pay My Bills. – Angelica

“Dear Steve,

I was unemployed for over a year and I am now working. However, my husband and I depleted our savings and got behind on some bills. I have crunched the numbers many times, but I keep coming up with same…we don’t have enough money to get caught up.

I have requested a mondifiaction loan from our mortgage company, but you know how that goes. It also seems that just as we are making headway something happens…In April the condenser on our AC unit went our….600 dollars, and friday the compressor went out again….

I need some suggestions and help…I do not want to file bankruptcy…I want to pay my bills

Angelica”

Dear Angelica,

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I totally understand where you are coming from but it’s a bit like wanting it to snow in July in South Carolina. It’s just not going to happen.

The reality is you’ve run through your savings trying to make ends meet and you are unemployed. Let’s say you were one of the few lucky ones that received a permanent modification, would you be able to afford your bills then? And when is the modification going through and how much of an adjustment are you going to get?

If you want to keep the house or turn it back to the bank then the way to deal with that is with bankruptcy. You can click here to find a local bankruptcy attorney.

Please understand that just because you go bankrupt to obtain the protections afforded you under the law from lawsuits and collections does not mean you still can’t repay your debt to your creditors for your own moral reasons. After I went bankrupt that’s what I tried to do.

Hopefully without your unsecured debt payments you can afford the house and to make it from month-to-month. If you can, go see a bankruptcy attorney right now.

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.

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About the author

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.

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