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I am Completely Freaking Out About My Debt. – Heather

“Dear Steve,

I was laid off in May and now our family has no way to catch up or settle with these people. We had not been able to pay for 8 months and so now they have sued. We have met with an attorney who advises us to file chapter 7.

We have no assets except for the items in our home. Our exemptions total $6000., but out household inventory will go over this amount.

The attorney states that the credit company rarely pursues selling these items as they will not make enough to clear half of the debt.Is this correct? I do not want to see my children out on the lawn crying as the few toys they have are sold at a garage sale. Any advise would be appreciated as I am completely freaking out over all this. please help!!!

Heather”

Dear Heather,

This is one of those times that our emotional brain is screaming so loud in our heads that we can’t hear anything else except fear and doom.

Your creditors do not want your kids toys, not do they want to host a yard sale and sell you stuff off. Both options are just not worth their time.

It sounds to me that your attorney gave you some good and realistic advice here. Listen to the attorney.

For you, all of this is personal. For your creditors and their representatives you are nothing more than the next person to hit the wall. Nobody is judging you, but you. Nobody is feeling guilty, but you.

It’s not going to happen, but let’s say for a second that the kids toys were sold. So what? Worse things have happened to many, many people. This process is exhausting and depressing but nobody is on fire here and nobody is going to die from it.

Be thankful and grateful for what you do have, the love of your family and each other. And that, is more precious and priceless than anything else and no creditor can take that away from you.

READ  My Debt is Freaking Me Out. - Jen

But seriously, nobody wants your used crap.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.




About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

8 Comments

  • Steve,
    I had to write and tell you what I did with credit solutions and how I got all the money back that they had scammed from us. I email them and told them how I had researched their company and knew they had several lawsuits against them and that they had been barred from practicing in several states. I then sent an email to our state attorney general Troy King complaining about how they take advantage of people. Then I emailed credit solutions and gave them all of my information and they agreed to refund our money! I couldn’t believe it. So it can be done with enough determination. I want others to know so they can do it also and get their money back also!! Spread the word!!!

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