clance65
Jul 26, 2007, 04:46 PM
Hi,
I am 42,and have been a successful earner in the past.I have a wife and 3 kids.I currently have 154,000 in unsecured debt.I applied [with my accountant] for financial hardship,and have received 81,000 from a 401k rollover.[I quit a good job a year ago,to start a business... failed terribly,and irresponsibly racked up these[mostly cc] balances.I am about to go back to work.The prospect of filing bankruptcy concerns me greatly.I have read many of your posts.I am a homeowner,with maybe 40-50k equity.Mortgage brokers can't seem to help here.Can I do some sort of debt settlement... as opposed to filing a ch 13,like the attorney[of course] advises me to do.He says put the $$ back in the 401k... I only have 3 weeks left to do so.Is there a way I can just stick this in my bank,and settle with these companies?. I just started not paying my credit cards this month... remember I have yet to start working... but I have to be in default for too long before I can show the courts that my pay[commission] will even support the ch 13.I just want to start tackling this,so I have peace of mind when I do go to work... Please Help!
I am 42,and have been a successful earner in the past.I have a wife and 3 kids.I currently have 154,000 in unsecured debt.I applied [with my accountant] for financial hardship,and have received 81,000 from a 401k rollover.[I quit a good job a year ago,to start a business... failed terribly,and irresponsibly racked up these[mostly cc] balances.I am about to go back to work.The prospect of filing bankruptcy concerns me greatly.I have read many of your posts.I am a homeowner,with maybe 40-50k equity.Mortgage brokers can't seem to help here.Can I do some sort of debt settlement... as opposed to filing a ch 13,like the attorney[of course] advises me to do.He says put the $$ back in the 401k... I only have 3 weeks left to do so.Is there a way I can just stick this in my bank,and settle with these companies?. I just started not paying my credit cards this month... remember I have yet to start working... but I have to be in default for too long before I can show the courts that my pay[commission] will even support the ch 13.I just want to start tackling this,so I have peace of mind when I do go to work... Please Help!