Some questions about

[Repairman]

Hello Everyone. Im new to the forums. I am considering Ch. 13, I have not contacted an attorney yet, but have some questions.

Here is my background : I have roughly $30k of credit card and other debt. I have tried debt settlement, and it hasnt worked for me. The part that is killing me is the monthly lump sum payments. Anther thing that really hurts me is that some of that credit card debt is with banks that can secure that debt thru property. Hard leason learned - never open a credit card thru the same bank you are financing a vehicle or property with.

I can no longer keep this pace of repayment. Im sending out almost a thousand dollars a month in payments. To accomplish this I've been dipping into my savings, exhausting my IRA, selling personal property, etc, etc. If I could get this down to 2 or 3 hundred bucks a month, I'd be fine. But it just seems there is no light at the end of this tunnel.

[debtinohio]

Stop paying any debt settlement company and see a few bankruptcy attorneys in your area. DO NOT use anymore of your IRA/401K, etc. as these are protected assets.

[frogger]

I can no longer keep this pace of repayment. Im sending out almost a thousand dollars a month in payments. To accomplish this I've been dipping into my savings, exhausting my IRA, selling personal property, etc, etc. If I could get this down to 2 or 3 hundred bucks a month, I'd be fine. But it just seems there is no light at the end of this tunnel.

Stop now. What you are doing is committing financial suicide. The debtors are coming to eat you, so take stock of your situation, read the sticky posts here, and ask questions.

Everyone here will try to help.

[optimistic1]

You are doing all the wrong things, take charge of your financial situation and just file a BK, banks do it, Larry King has done it 2 times, dont feel bad.

[Repairman]

[QUOTE=optimistic1;366094]You are doing all the wrong things, take charge of your financial situation and just file a BK, banks do it, Larry King has done it 2 times, dont feel bad.[/QUOTE

Yeah, I've come to see that. It was a hard lesson learned, but I realize it now. I just put a call into a local law firm specializing in bankruptcy matters.
I really hope I get a call back today. I'm looking forward to sitting down with someone to go over all my options, and get this going. For over 6 years I've carried debt.

[Faust]

We all feel your pain!!