“Dear Steve,
high interest cards,high interest mortgage rate,brief loss time from work,2 grown jobless children at home,heating oil,and just life happens and theres no money..so i went to atlas consumer coop.steve i’m gonna tell you i only wish i had seen this sooner,i had 25,000 in debt they handled for 6 months and did nothing and kept 200.00 a month for a membership fee,they did nothing for us..so i’m still over my head in debt,as a matter of fact i was issued to court by one company so far,2 months behind in mortgage,and a student loan with interest that keeps capitalizing…husband was out of work 2 months .no money but 300.00 a week .he is back working,and we are trying to play this game of catch up,but i see no end to this mess.i’m 53 and my husband is 55 we now only have one kid home!!!please help us we’re at our wits end.
what do you think is our best alternative..we have a past bankruptcy in 2003.would it be wise to consider another at this stage of our life??as for our mortgage,i’m almost ready to walk @ 7.75 interest and no bail out for us..bank of america took it from countrywide and it was a fannie may with pmi ,refied in 2006
Renee”
Dear Renee,
Let me put it this way, discounting bankruptcy because you previously filed is not necessary. That was then and now we need to apply the right solution for the problem.
Let’s see if I got this summarized correctly.
You are up to your neck in debt, two kids are living back at home and jobless, you’ve been sued, and behind on your mortgage.
It might just be that this is a perfect opportunity to deal with everything at once and get the fresh start you deserve. A second bankruptcy would allow you to walk away from the house, discharge your debt, discharge the lingering house debt and get a legal fresh start.
You don’t have a lot of prime working years left so time is not on your side. But if you pursue this path you can put this behind you, rent, and rebuild your credit quickly.
Please post your responses and follow-up messages to me on this in the comments section below.
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