Major Debt Considering Bankruptcy or Foreclosure

Hi. I am an attorney and let me start offf by saying that what I am about to say does not mean that I am your attorney. Sorry, but had a "friend" burn me when I didn't clarify. Anyway. If you have homestead on your home, bankruptcy may be your best option. But I would first suggest contacting one of the government approvide credit programs. Contact the Attorney General to find out who. As for the bankruptcy, it is not hars and if you can reassum the home dept, that will help you rebuild you credit faster. Good luck!

Please let me know what you find out. I have been considering bankruptcy for a number of years. Although, I don’t have credit card debt, I have many other negative marks that prohibit me from getting further in life.

Thanks!

My aunt and uncle just went thru bankrupcy, As far as I know it was not too hard. It does cost like 800-900 to get the ball rolling. They were able to keep their house, but they let their new van go. I am not sure who they used but they are in Pinellas county so that probably wouldn't help.

G.,

Don't feel bad. My husband and I are survivors of bankruptcy. I think that bankruptcy is a God sent. It is truly a fresh start. I am not telling you what you should do but I did it. You will not believe the weight that was lifted after the creditors meeting. I used to have creditors calling my job, calling me all hours of the night, threating to take things. I have had them try and garnish my wages several times. I mean it can get pretty ugly. We filled in August of 2005 and it was discharged in November of 2005. We got a loan for a car in February 2006. Things have been looking up for us ever since that day. We have not decided to buy a house yet, but as soon as we do it will not be a hassle. We have been able to save money and everything. So, please I agree look at all aspects before you decide to do it. We had a paralegal complete the bankruptcy paperwork and it cost $200.00. That is the max that they can charge because they are not attorneys. Attorneys cost anywhere from $800 to $1900 and maybe more. So look into that as well.

Is there any way that you could refinance your house and assume some of the debt into your mortgage? You really need to contact a bankruptcy attorney FAST.

Gracie -

I am very sorry that you and your family are going through this. the stress is awful.It seems that many people are going through really really tough times. My girlfriend in Texas just went through this back in June of this year. Instead of bankruptcy she went to a credit councilor(?)The credit Counciler(?) could not help them. They were advised to do a short sale of their home.(short sale ...selling your house under the sale price ..bank eats the difference) The reason why i am telling you about the Credit Councilor is because with out the denial of them the mortgage company would have not excepted the offer. Now I don't know what the laws are here in florida but I think it is worth looking into. God Bless!

H.
www.workathomeunited.com/enhanceyourgreen

Make sure bankruptcy is your last option. Before moving forward with that decision you should see if you are able to refinance and save your home and possibly pay off some of your debt. I would love to be able to help you out if it is possible. My husband and I own a mortgage company Home Funding USA. You can call us at the office ###-###-#### and check us out on the web at www.homefundingusa.com. Good Luck in whatever you decide!