Filing Chapter 7... Question concerning BofA

[music12]

another way would be to try to settle the debt just with BOA, then file bk when they are no longer creditors.

[pcn]

Since BK is out of the question, I Think your only option is to try to settle with your Credit Card Companies for an amount lower than your balance.

I would scoot on over to the Collections Section on this Forum and start reading posts. One posted yesterday he/she settled Amex for 10% and, to my knowledge, they are the toughest to deal with.

Just a suggestion.

Luci

Those that settle need incentive to do so, like the debtor not paying. In this case, if you don't pay, don't you run a similar risk of BOA "borrowing" from the other account to catch up? I wold still talk to the lawyer and get his (free) advice. Meet with the purpose of learning more about bk, and see what he says about this situation. He (or she) may have a completely different approach, or be able to help you plan a course of action. Maybe keeping your account current for a time period after modifying the joint account wold be a possibility. Someone who does this for a living can give you invaluable advice. We all give you advice based on our (possibly) narrow set of experiences. Get ideas her about what to ask - ask the professional when you need to make the decision. Would you go to Webmd and then try your own surgery based on a couple (well intentioned) posts?

[Midiman]

Well thanks to everyone for your help and advice...

Called the BK attorney and she said that BofA would run our names and upon finding the joint account, would fund the debt and then close our existing accounts. We're basically stuck. I can't ask my Mom to modify the account. It would be too obvious that something was awry with us financially.

We may have to ride this one out until I can either increase my income, transfer the debt to another bank (), or hit the lottery.