Burn Paypal

[Jnbmom]

If you owe out 30k and your incone is 36k have you considered a consult with a BK attorney? I realize BK is a huge choice to make but after its discharged you can rebuild. I am just afraid when you stop paying PayPal your balance will increase ALOT and you will owe way more than 5k and most likely they will report this and your other creditors will pounce and raise your rates and that 30K will increase. I know BK is a last resort for many but you may just want to get a consult they are usually free and see where you stand good luck.

[Anonymous]

I'm very sorry OP, but it look like ch7 is your option here. If you're going to do it, do as the other posted said and first try to get a loan to pay the cards off and then do Ch7. You don't want to burn AMEX and the others.

[Anonymous]

If I do Bankruptcy, they close all my cards even though some are paid off, is that correct?

[Jnbmom]

If they are paid off you don't include them. I had 2 cards with zero balances I did not list them on my BK and they remained open after my discharge but YMMV

[Anonymous]

It's your choice, but picking up a phone and talking to your mortgage company about a refinance to pay off the CC debt, or calling all the CC companies and explaining the situation and seeing if you can get an arragement for a lower interest for a while or lower payments.

From what I see your not even trying your just expecting to let one go.   Without even trying and just giving up you will never know if you could have come out of this with bills paid and perfect credit.  

[Anonymous]

Asiide from living on beans & rice for a few months to pay off some of the creditors and start snowballing. You could consider selling the truck and paying cash for a vehicle WITHOUT a payment.

Then take that 324 (plus you might can lower insurance payment too)_ and roll it in to paying off a creditor using Dave Ramseys Snowball method.

[Anonymous]

With Capital One, they gave me three months with my normal payment but didn't charge me a late fee as long as I paid within 30 days. (Which ended in March) They also lowered my interest to 15% for 7 months. So that brought my payment down to the $80ish.

American Express said that I already have the best interest rate possible at 20.00% on both my cards. So there was nothing I could do. Back in January when I told them I lost my job and I am trying to re-establish my finances they gave me a credit in interest for one month.

I have yet to call Syncrocy Bank (i cant seem to find a number for the walmart MC)..

But that's what other cards did for me, I owe 96k on my house and its worth 100k, i dont think I have enough equity to take out a home equity loan to pay off a credit card. 

[Anonymous]

If your credit is high enough (don't recall what your scores are) it would be worth looking into consolidating everything under your mortgage, or even a personal consolidation loan.

I would call the Mortgage company anyways and talk to them.  I mean at this point do you really have anything to lose by trying every option in the book?  Talk to the mortgage company, talk to your bank about a consolidation loan, talk to the remaining creditors.

Once you make this decision and do it, you might as well start recovery.  And remember you have probably 5 years or longer where they can come after you if they choose.  And if they choose to come after you then you will likely be as bad, or worse, of a situation than you are in now because Creditors that go to court tend to also garnish yoru checks.

[beutiful5678]

Are you upside down are either of your vehicles?

[Anonymous]

I would recommend burning any of your creditors only as a last resort, and even then I'd speak with a bankruptcy attorney first and get their explicit recommendation on that point.