|
|
Severe Debt
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by Jack
(67.225.235.218) on September 06, 2003 at 12:10:50:
We live in Florida. We just purchased a home last year.( $195000) It was bought from our friends. They hold the morg. We both have good jobs. My wife is a stay at home childcare provider.(ALL CASH). Between the both of us we clear $ 1250/Week. Our Mortgage is $1300/month. That leaves $3700 and we still can't pay our bills. I have thought about Bankruptcy but am afraid to loose the house. We owe about $80,000 in unsecured Debt. We accumilated this debt over years. This sounds silly but we lead a simple life style. We have 1 car and 1 child. All these years (14) we robbed Peter to pay Paul. Just this past year we started to be late on payments and even had a judgement against us. I contacted several high interest rate companies and wanted to consolidate. The all but laughed. I still have a good Fico score 687 but have WAY too much debt and the late payments are beginning to show. I even approached family members to borrow money with interest but were afraid to tell how much we really are in debt. I do not want to go the route of Debt Consolidation thru companies like Ameridebt, Etc. I do not trust them. I was willing to pay the Extremely High interest rate as long as I had 1 payment. Is there any solution to my problem? Is Bankruptcy my best option? Is there companies out there that will help us? PLEASE HELP
Follow Ups:
Post a Followup
|
