My husband and I are self employes and dont make a lot of money.he use to have a steady job before being laid off two yrs ago..we tried consolidating our debt and were kicked out of the program because we couldnt afford the monthly payments..now creditors are calling all day and I dont know what to say..we arent in a position to pay anyone right now..what is going to happen to us?
What do we do now and what actions can the credit card companies do to us?
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A credit counseling program will drop you when you can’t make the payment because you become a liability to them. When your monthly minimum payment is not enough to satisfy the creditor wishes then the credit counseling program has no further use for you.
When they say it’s not about the money, guess what, it’s about the money.
It is time for you to find a local bankruptcy attorney, pick up the phone and call to make an appointment for a free bankruptcy consultation. This is not going to get better without intervention or a sudden increase in income.
Bankruptcy will stop the calls and end collection attempts. It will close the door on this unmanageable debt for ever.
Sometimes the hardest thing to do is the right thing.