Posted on: 15th Feb, 2009 07:01 am
What happens if your credit card company happens to be your mortgage lender too and becuse of too much credit card debt you have to file for bankruptcy and lets say if you owe 20k to bank of america and it was discharged trough bankrupcy but BOA now owns countrywide could they take your house even if you have no equity in the house or intensionally lose your payment just to get back at you?
welcome tormozat,
i think filing bankruptcy for credit card debts is not a good option. you can try for a debt consolidation or debt settlement.
in debt settlement, your outstanding balance will be reduced by 40%-60% depending upon your situation. in a debt consolidation, the interest rates for paying the debts will be reduced.
you can contact any debt consolidation company regarding this and check out their plans. you can also check out the website - "debtconsolidationcare.com". you can speak to the financial coach of this community and he may help you in resolving your issue.
i think filing bankruptcy for credit card debts is not a good option. you can try for a debt consolidation or debt settlement.
in debt settlement, your outstanding balance will be reduced by 40%-60% depending upon your situation. in a debt consolidation, the interest rates for paying the debts will be reduced.
you can contact any debt consolidation company regarding this and check out their plans. you can also check out the website - "debtconsolidationcare.com". you can speak to the financial coach of this community and he may help you in resolving your issue.