Ask The Get Out of Debt Experts

I Was Going to Go With Covenant Debt Solutions Before Falling Into Your Site. – Nanci

“Dear Steve,

56 year old, 27 years on the job 3033.00 gross after a 6.58% cut last year and this year. I work for a school district that has been hard hit

60 year old hubby with cancer. He is on partial unemployment since his company is in the CA construction field. He can’t get another job due to his age and health. He is a truck driver. Est income for him is 1364.00 gross per mo.

we owe 127,000. on our house
we have 45,000 debt in credit cards
no savings

How can I get out of the 45,000 in credit card debt?

My health is taking a hit with the constant worry. I was going to go to Covenant Debt before falling into your site. We have no money, we are barely living right now and feeling helpless.


Dear Nanci,

I hope you didn’t hurt yourself when you fell into the site. 🙂

The answer to your question really has nothing to do with Covenant Debt Solutions. The deciding factor here isn’t if Covenant Debt Solutions is the right company to go with but that based on your situation, the only logical solution is bankruptcy. Here’s why:

  1. There is no reason not to think that based on the current economy that your wages will remain flat or even be reduced further.
  2. With your husband’s situation it is not reasonable to launch into a multi-year repayment program.

Both of those factors make it highly unlikely you will succeed in any repayment program that takes a number of years.

You need to click here to find a local bankruptcy attorney and go talk to them. The sooner you can legally discharge the $45K of unsecured debt the quicker you can get back into a safe financial position and protect yourself moving forward.

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.

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.

Leave a Comment

Scroll to Top