Re: BK not an option... now what?

Posted by Rlee from OH (65.238.15.138) on March 18, 2004 at 16:27:49:

In Reply to: BK not an option... now what? posted by sparky on March 17, 2004 at 15:39:08:

Try as hard as you can for another month or so and stay current making minimum payments. Spend your time looking at various asset protection plans. I'v heard that Family limited partnerhsips are a way to go. You will own something like 1% of the partnership, and be the general partner, in control, or better yet add another layer and a trust you control owns the 1% and is the general partner running the partnership. The problem as I see it is the mortgage company, I do not know how this is treated. Like I said spend your time researching various asset protection ideas. and keep your eyes open as there are a lot of scam ideas in this area as well. After you get this all set up tell all the cc companies to pound sand. After you are behind several months they will be very receptive to negotiation of 1 or no percent interest charges. Once You are in control they will will be bending over backwards to work with you. Untill then they seldom will work to help you out.
Good Luck
Rlee

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