I went into the debt settlement program with Allegro Law Firm in Prattville, Al and lost $1149.00. I closed my account at the bank, now I owe late fees and higher interest I had good credit until I was told to let my payments get behind. I am 72 years old retired and have an invalid son to take care of I owe about $32,000.00 in credit card debt.
I have thought about going bankrupt, but will I lose my assets, like my home, car, life insurance policy and what little stock I have left? I am having a hard time with my life right now.
Can you help me?
I suspect that the money you lost in the debt settlement program was money you could not afford to lose. Unfortunately, entering a debt settlement program may have led to the loss of assets since a creditor can still sue you and get a judgment against you when you are in a debt settlement program.
I think the best advice is that you should go see a local bankruptcy attorney and discuss your situation. A Chapter 13 bankruptcy would be much better than a debt settlement program. It would let you pay back what you could afford, protect your assets, and discharge the remaining debt without and tax liability.
To find a bankruptcy lawyer you like, call several in your area and pick the one that provides you with friendly customer service.
After you talk to the bankruptcy lawyer, if you still have questions or concerns, come back to this question and post your question in the comments section.