I have my own business, too much debt, built new house, I’m not working, helping in our business. Can’t afford minimum payments anymore.
Looking at debt settlement companies, but leary. Owe about 140,000 in unsecured debt. Don’t like the idea of bankruptcy, but can’t afford high mortgage & credit card debt as well as 2 RV payments & 1 vehicle payment.
In your case you should be leery of a debt settlement company. You have no money to settle with and the chances of your making small monthly payments to assemble enough cash to settle with, are unlikely.
You might not like the idea of bankruptcy but I don’t like the idea of you continuing down a dead end path. Without a significant amount of income, there is no reasonable expectation that you will be able to pay your way out of this deep hole.
With $140,000 in unsecured credit card debt, some RVs, and other debt, I think that while you might not want to go bankrupt, it is probably in the cards for you.
Do this. Schedule a free bankruptcy consultation with a local bankruptcy attorney and get the facts about what bankruptcy will mean for you. Only then will you understand bankruptcy and not fear it.