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Before filing bankruptcy or should I file now even though not late yet. But probably will be late starting next month.

adonis · Posted: Wed Jan 30, 2008 2:38 am Post subject:

Welcome Anonagain,

Being late and waiting for foreclosure isn't a wise thing. That's how i feel. Is it that you are unable to pay off the loan?

Instead of filing bankruptcy now, why don't you explain the situation to your lender; he may come up with options to help you make the mortgage payments. And, let me know more of your situation. It can help me give you better suggestions.

greg1 · Posted: Wed Jan 30, 2008 6:14 am Post subject:

I have mixed opinions on this subject.

I suggest that you do your best to pay your bills before they go 30 days late until your bankruptcy is discharged.

However, most attorneys will say to stop paying because all the debt will be discharged. They figure why pay a bill you are going to discharge. Well, there is no guarantee your bankruptcy will be approved. It also is harder to recover your credit scores if you stop paying.

If you feel you need to file and you have exhausted all opportunities to be able to repay your debt then file as soon as you know you cannot afford the bills anymore.

bthahir · Joined: 05 Sep 2007 Posts: 36 13.34 Dollars($)

I would prefer to consult with the lender. They will have some solution. The next idea is,if you are paying higher rate of interest refinancing your current loan for a better rate( as the rates are down now) can also help you

Posted: Wed Jan 30, 2008 1:14 pm Post subject:

Greg,

Unique approach your web site takes. Haven't seen that tack before. Think it should generate some traffic but you might be walking a tight line in trying to avoid mandatory disclosed items under ORC.

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Should I Just start being late and Wait for Foreclosure