Results 1 to 8 of 8
-
03-15-2018, 12:51 AM #1
- Join Date
- Jan 2018
- Posts
- 12
Need to file bankruptcy, help with details!
Hey,
My current situation is really unexplainable. I'm going through the darkest phase of my life. I have never faced such a terrible and unfortunate situation earlier. I'm not really able to handle all of my credit card debts. Also, I have two mortgages, a home purchase mortgage secured five years back and an auto loan in 2015.
I have heard that consumer proposals or bankruptcy are the best ways to deal with debts. The problem is that I don't know anything about both. I have read that bankruptcy is an extremely complex process. But it could help consumers and businesses eliminate the debts or repay them under the protection of the bankruptcy court. I think it's a better solution for me.
I'm planning to file bankruptcy after consulting a licensed insolvency trustee in North York. They have the authority to administer consumer proposals and bankruptcies. Could you please help with suggestions? Thank you in advance!
-
03-15-2018, 10:29 AM #2
- Join Date
- Dec 2016
- Location
- Brooklyn N.Y.
- Posts
- 428
-
03-15-2018, 10:52 AM #3
- Join Date
- Oct 2016
- Posts
- 4,318
-
03-19-2018, 02:25 PM #4
- Join Date
- Mar 2016
- Posts
- 904
-
03-19-2018, 03:00 PM #5
- Join Date
- Feb 2017
- Posts
- 3,416
When it comes to credit card debt, I once spoke with Barbie at contact@restoremyscore.com (her website is no longer around)about some clients of mine, she really knows her stuff. However - you're in Canada, so things might be different.
What I learned is is exactly how credit card debt works. It takes them YEARS for them to get through a court system.
Until then, you can work as normal. You just need to be smart enough not to avoid their calls so they can't scare you. Barbie can even write them letters to get them to stop making collections calls. Her motto is "NEVER pay a collections company!" It's unsecured debt, and after about a year of you not paying, they'll start begging you to settle with them for less. But you have to be defaulted long enough to get to the collections agencies that understand settling. Barbie told me that many states don't even have lawyers who can sue you!
Credit card collections companies have very little power, even though they make themselves out to be the scariest people on earth.
As for the mortgages, that's more serious. You need to take care of those first. They are secured, and they are probably able to come after you (and their collateral) in-person, in your state, as opposed to the Indian collection agencies who bought the debt for $.30 on the dollar, hoping to get $.50.
At least that might give you some leeway to try to find some breathing space and make a buck or two through selling a good advance with sources you already have, or getting a good job with a cash advance company quickly, or whatever else it might be to make up for lost time.
I hope this was helpful. Your journey is a rough one that nobody wishes to be on.Last edited by abfunders; 03-22-2018 at 06:29 AM.
-
03-22-2018, 05:18 AM #6
- Join Date
- Jan 2018
- Posts
- 12
-
03-22-2018, 05:20 AM #7
- Join Date
- Jan 2018
- Posts
- 12
-
03-24-2018, 10:00 AM #8
- Join Date
- Feb 2018
- Location
- San Diego, CA
- Posts
- 103
Before filing, explore all the options. Try to settle. Talk to your debtors and have them help you come up with a solution. It's better for them and for you. Think of BK as the last option.
juan
Juan Pasalagua
www.alternacashadvance.com
(855) 262-2996
Similar Threads
-
Small Business Owner Leads - Specified Details Upon Request
By CFG in forum PromotionsReplies: 5Last Post: 01-25-2018, 09:30 AM -
Name your price LEADS! Details below
By cashadvancedata in forum PromotionsReplies: 0Last Post: 01-03-2018, 03:15 PM -
Make an additional income from your Merchants Hands Free!!! Contact me for details!
By Concierge Processing Davi in forum Payment ProcessingReplies: 0Last Post: 03-28-2016, 02:18 PM -
Open Bankruptcy
By Funder Mark in forum Merchant Cash AdvanceReplies: 16Last Post: 02-01-2016, 06:18 PM -
cashcall info/details
By MTY MSI in forum Merchant Cash AdvanceReplies: 0Last Post: 03-24-2014, 03:01 PM