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Is it coming to my only option is bankruptcy?

I have got in a lot of debt from making bad choices and going to these little loan companies that charge high interest . I have been makin the monthly payments,and they are current right now, bu tthings are getting really tight and i called them to see if there were any type of payment arrangements to make to try and lower the payment each month. They all said No, i have to make the regular payment. They have small things like the tv, dvd players, etc up as collateral. Anyways since they aren't willing to take any smaller payments when things to finally play out and i have to buy necessities , is my only option bankruptcy?

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Asked by Anonymous at 4:07 PM on Mar. 26, 2009 in Money & Work

Answers (3)
  • What a creditor told me was that even if you pay all of your debt off it ruins your credit to show it being 90+ days past. I asked him if there'd be a big difference if I started over and filed bankruptcy, he said no. I was shocked. I filed and got a new car, 2 credit cards within 3 months and have been building it up since.

    Answer by Anonymous at 4:10 PM on Mar. 26, 2009

  • I would talk to an attorney and not a creditor. The first consultaion should be free, it is worth it, it looks like. He may say just let everything go back. GL.

    Answer by Anonymous at 4:15 PM on Mar. 26, 2009

  • You are not alone!!!!  we are all in the same boat

    Work for Yourself and help others do the same.


    Answer by Anonymous at 11:06 PM on Mar. 28, 2009

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