Re: Defering payments

Posted by lucy (199.182.121.68) on August 08, 2002 at 20:05:11:

In Reply to: Defering payments posted by Scott on August 08, 2002 at 17:55:41:

Sorry to hear about your personal trouble. Your name has been a bright spot on the board.

Some creditors will negotiate deferrals, or at least they used to.

The max I ever heard of was 90 days, during which you did have to pay interest. And in the case of maxed accounts that never helped all that much.

But as we have been seeing on the board, creditors are bypassing collections to file lawsuits IF you can realistically "catch up" with a breather that's reasonable to a friend, you'd be better off borrowing the payment money from someone who knows you well and is willing to wait for repayment if something goes wrong ...

If you're maxed credit-wise and getting a divorce, get your lawyer's opinion re BK by all means.

Better to be debt-free at the outset than to get messed up years later if any "she'll pay this, he'll pay that" decisions aren't adhered to.

lucy

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