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Re: Help! I'm drowning in my debt!
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Posted by A Honest Bill Collector on January 30, 2002 at 22:47:59:
In Reply to: Help! I'm drowning in my debt! posted by Desperate in Florida on January 29, 2002 at 11:59:28:
I must first say you need to do the research yourself. Only you can decide if bankruptcy would be the best way to go. As far as the law, that is a matter best left to a lawyer with a good reputation, there are laws in each state to protect the debtors & creditors.
You can bet on any credit grantor canceling you accounts once you begin to default on other accounts, so you cant really pick & chose your creditors. If you really want to consider you options, look into redirecting the debt, refinance your home, borrow from 401K or other similar plans. There is a variety of ways to redirect the debt, lower your monthly bills & get out of debt. Bankruptcy should only be considered as a last resort, or for the people with no morals... an easy out.
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