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  • Timing Bankruptcy action

    One more question: No way to make payments or settle debt. Living on SS.
    Have endured collection calls - they are getting ready to charge off
    acct...possibly turning acct over to outside source/attorney

    Is claiming bankruptcy necessary? My credit rating will already be
    zilch. I'm to old to be buying much on credit anymore.

    What is the down side of not claiming bankruptcy on unsecured debt?
    Remember IRS has already got a lien on house .


  • #2
    Timing Bankruptcy action/TOM

    Just visited your website - found answers - so far. Hoping now I will
    be charged off and forgotten. Thank you




    Comment


    • #3
      Timing Bankruptcy action

      Hoaxbuster <[email protected]v.net> wrote:
      One more question: No way to make payments or settle debt. Living on SS. Have endured collection calls - they are getting ready to charge off acct...possibly turning acct over to outside source/attorney
      Is claiming bankruptcy necessary? My credit rating will already be zilch. I'm to old to be buying much on credit anymore.
      What is the down side of not claiming bankruptcy on unsecured debt? Remember IRS has already got a lien on house .
      The down side is that the creditors can get liens on the
      property. These liens can make it difficult or impossible
      to sell the property. Sometimes the creditors can force
      the property to be sold. If you wait too long to file
      the bankruptcy, then the creditors which previously were
      unsecured need to be dealt with as secured.

      I really am sorry to play a broken record, but you really,
      really need to see a good lawyer.

      Kindest regards,

      Tom

      ----------------------------------------------------------
      Free help for businesses, families, and individuals facing
      past due debts and taxes: http://www.insolvencyhelp.org
      ----------------------------------------------------------

      Comment


      • #4
        Timing Bankruptcy action/TOM

        [email protected] wrote:
        Just visited your website - found answers - so far. Hoping now I will be charged off and forgotten. Thank you

        The chances of you getting forgotten go way down
        if the creditors already know you own a house.

        I don't mean to be unkind, but you can "hope" as
        much as you want, and it won't accomplish much.

        You need help from a lawyer before the creditors
        can obtain and perfect their liens.

        Maybe you don't need to file bankruptcy right
        away, but you certainly need to be prepared to
        file on a moment's notice, I think.

        As Brett says, "Do yourself a favor, see a
        lawyer."

        Best wishes,

        Kindest regards,

        Tom

        ----------------------------------------------------------
        Free help for businesses, families, and individuals facing
        past due debts and taxes: http://www.insolvencyhelp.org
        ----------------------------------------------------------

        Comment

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