Our problems started 7 years ago when our daughter was born, her medical issues, then my husband lost one job (he was working two, to pay medical bills) we were doing pretty well until he got laid off in March.
We went from $4,000 a month to a little over $2,000. I got a job driving for our local school , so some to add to that, like $900.
We have credit card issues now because we got behind, and I thought paying our house, and car pmt were more important. We are looking into refiancing the house, taking out money to pay off a couple of the outstanding bills.
I try and pay a little on these as we go but, they’re telling me their sending my accounts to Collections. I’m afraid their going to sue me.
Does this sound like a good idea? and if so, What happens when I try to pay the ones in collections?
OK, I can help you get through this but I need a bit more information first. Just post your answers in the comments section below.
You mentioned a refi to take cash out. How much equity do you have in your house?
What is the approximate mortgage balance and current value?
What state do you live in?
How much credit card debt do you have?
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