Bancruptcy or settlement?

by Christine Reyes

I have an old debts on my credit cards I used the settlement company to settle all my credit cards but I got sick and not able to pay my monthly payment and was on disability for 2 months my husband is out of work.I have mortgage to pay 3 children to feed.I owe more than $35,000 w/ credit cards plus 1 rental house we put on short it better for me to file for bankruptcy or settle w/ the collection agency or w/ court in case they start suing me.

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Dec 05, 2011
Bancruptcy or settlement?


I am not an attorney so I cannot provide you with a definitive answer to your question and even a bankruptcy attorney would need to take a careful look at your finances to tell you what your best option is. However, based on what you shared in your question, bankruptcy will probably turn out to be a better option than settlement because settlement only succeeds if you can come up with the money you need to fund your settlements and you've already had problems doing that.

I recommend that you get in touch with a consumer bankruptcy right away to discuss your options. Your first consultation will be free. Go here to do that a free consultation with a bankruptcy attorney.

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