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May 22nd, 2009
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y wife and owe about $200K in credit cards. We both had very good high jobs which we lost last fall. Had we not lost our jobs, we intended to pay back al of it. The employment I have found is at a fraction of my previous salary. There is no way we can pay back our debt now. Creditors have been calling us non
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  | Posted May 23rd, 2009 at 5:34PM Hey John, sorry to hear about your problems, am well aware of how finance issues can bring you down. Not sure I can give any advise as I'm in the UK so not sure of the rules where you are, but over here we have something called an IVA whereby you basically pay back what you can afford over a period of 5 years and the rest is written off. It's a government law over here that puts both the creditor and the debtor at fault hense the slight bailout, and the ability to escape going bankrupt. We also have laws that state the creditors can only call or contact you so often before it is classed as harrassment. Just thought I'd share, in case there are other options available to you. Good luck!   |
 | Posted Jun 24th, 2009 at 2:08AM John- I have been there just like you. There are no more "stigmas" for filing bankruptcy. I have been through it, it does get better, you need to plan to file. You need to protect your family. There are strategies that can make this happen, and you will walk away debt free. The depression is hard at first, I know because I have been there, it does get better, with a little time of course, hang in there, it will be ok Tony |
| Posted Jun 24th, 2009 at 2:08AM John- I have been there just like you. There are no more "stigmas" for filing bankruptcy. I have been through it, it does get better, you need to plan to file. You need to protect your family. There are strategies that can make this happen, and you will walk away debt free. The depression is hard at first, I know because I have been there, it does get better, with a little time of course, hang in there, it will be ok Tony |
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