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To Bankruptcy or not To Bankruptcy
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Posted by TJ (207.69.140.32) on February 29, 2004 at 17:52:42:
It is a long sad story that I am sure thousands of people live everyday. We are way in debt (100,000+).
After some research we pick a company to handle our situation and resolve our financial debt. They provided us with materials and formulated a process that will have us debt in 3 years. I'm sure everyone is familiar with the process, stop payments inform creditors of financial hardship and eventually settle for 35%-50% of original debt. Well we have followed the plan and have had two settlements for 35% of the original debt. BUT I received correspondendce from one creditor that they were unable to reach an agreement with my debt company. And yesterday I recceived two letters from the National Arbitration Forum. Do I stay on course with my debt company or throw in the towel and take Bankruptcy?
HELP!!
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