Re: Please Advise

Posted by scott (65.25.96.198) on October 31, 2002 at 09:37:16:

In Reply to: Re: Please Advise posted by observer on October 31, 2002 at 08:42:27:

First off let me say I am so sorry for your situation. With 2 young children myself I cannot even imagine or want to imagine what life would be like with one of them. That being said, if you only have $50 a month I guarentee you will be paying back those debts for the rest of your life and I doubt you will ever even hit the principle. For that amount they are most likely tacking on well over $300 a month in interest and late charges and will probably fail to mention that part. They will suck your family dry and delight in doing it. you will send them $50 a month and every year check your balances and notice you owe about 5k more than you owed a year ago. There is a good chance that soon the new BK law will pass and then you will really be screwed. I would really consider chapter 7 very very soon. After you file in 7 years your credit will be back in order. If you pay the CAs your credit will be destroyed forever.

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