QUESTION
The company told me to pay them a $50 fee until I am able to resume payments to keep them from entering a lien against my house. Is it correct?
Asked on Jan 22nd, 2013 on Bankruptcy - Michigan
More details to this question:
Two years ago, I went to a credit card consolidation company. I have been paying payments for 25 months, on 19 credit cards. I have now lost 40 per cent of my income and find myself unable to pay my monthly payments of $386.00. There are five credit cards left all under $1,000.
3 ANSWERS
Chapter 13 Bankruptcy Attorney serving Winston-Salem, NC
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Love and Dillenbeck Law
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I am not a fan of these debt consolidation companies and for the most part they are not legal in North Carolina. You should contact an attorney for assistance.
Answered on Jan 28th, 2013 at 10:03 AM
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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The question about a creditor being able to put a lien on your home is dictated by the law of that state. Your e-mail does not identify where your property is located. Consider talking to a good bankruptcy attorney licensed in the state where you live. By using this debt consolidation company you already have a bankruptcy on your credit so you might as well look into getting the full relief that a bankruptcy would provide you. Anyway, there is no loss in you taking some time to learn more about bankruptcy. Please understand that filing for bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step.
Answered on Jan 28th, 2013 at 10:03 AM
You should consult a consumer protection attorney to review your options. You want to avoid being sued by one or more of the creditors. Lawsuits will make the situation more difficult. You may need to contact the creditors directly. However, I would need to know more about your situation and see all documentation to effectively comments.
Answered on Jan 28th, 2013 at 10:02 AM