I am not a great storyteller so here is my situation- I have three accts with AMEX that are charged off and are about to go to collections total is about $8,000 I have credit acct with BoA that is charged off to the tune of $5,000, I don’t know what to do.
I lost my job and was unemployed for 5 months and now I am employed but can’t get back in their good graces. I really could only afford about $200/mo total in payments towards these without causing myself or my family problems. How can I try to get this done? What should I do? Doesn’t seem like enough to file for bankruptcy but I also want to avoid court…any thoughts? Do you need more info?
I think the technical issues surrounding your situation answer the question for you. With $13,000 of debt your monthly payment in a credit counseling program will be $260 – $300 a month. That might simply be out of your reach.
It might just be that your best course of action is to contact both a debt management company and a local bankruptcy attorney. Talk to both groups and then after educating yourself about what each has to offer you can make an informed decision that is best for you.