Negotiating Debt? (Don't know what this is called)

[moe]

MyBailOut:

Yes, I'm not ready to accept that bankruptcy is inevitable. It's just such a ridiculous situation. It seems like there has to be a way. Maybe there isn't...I'll just try this. And if it doesn't work, so be it. It's not the end of the world.

Does it really make a difference if I mess up our credit before bk? Does it really make a difference if I get rid of some debt we might not be able to get rid of some other way? It might ease things for a year and then I can declare. If that's necessary then. Maybe we'll get lucky somehow and it won't be.

[Mensa1]

Thanks. I'm terrible at coming up with screen names and usually use some form of my real name. For obvious reasons, I didn't want to do that here. I was wearing red when I registered, so a name came easily for a change.

That is intersting, screen name based on "what you were wearing at the time" Red.
Here I thought it was referring to the accounting version of "being in the red", as in at a financial loss.
So maybe instead of a pseudonym, you really have created a homonym.

[LadyInTheRed]

That is intersting, screen name based on "what you were wearing at the time" Red.
Here I thought it was referring to the accounting version of "being in the red", as in at a financial loss.
So maybe instead of a pseudonym, you really have created a homonym.

It does refer to my financial status. "LadyInRed" came to mind first. "LadyInTheRed" logically followed as it described the reason I'm on this board.

[LadyInTheRed]

MyBailOut:

Yes, I'm not ready to accept that bankruptcy is inevitable. It's just such a ridiculous situation. It seems like there has to be a way. Maybe there isn't...I'll just try this. And if it doesn't work, so be it. It's not the end of the world.

Does it really make a difference if I mess up our credit before bk? Does it really make a difference if I get rid of some debt we might not be able to get rid of some other way? It might ease things for a year and then I can declare. If that's necessary then. Maybe we'll get lucky somehow and it won't be.

If you are able to settle with one or more of your unsecured creditors, but then find you still have to file bk, you threw away money that you may have been able to exempt or put towards paying your attorney or the IRS.

Make sure you are looking at your situation realistically. I would want to know that there was a good chance of successfully avoiding bankruptcy before throwing more money away to unsecured creditors and prolonging the inevitable for a year. I sure wish I had considered bankruptcy a year ago so I would now have only 4 years of payments left!

You are the only one who can figure out whether BK is inevitable. But, use logic. Don't rely on hopes that you'll "get lucky somehow" just because "it seems like there has to be a way."

[Mensa1]

I'm terrible at coming up with screen names and usually use some form of my real name. For obvious reasons, I didn't want to do that here. I was wearing red when I registered, so a name came easily for a change.

It does refer to my financial status. "LadyInRed" came to mind first. "LadyInTheRed" logically followed as it described the reason I'm on this board.

Maybe I misunderstood your earlier post. Maybe you can see why I thought it had to do with the color, not the monetary definition.

[LadyInTheRed]

Maybe I misunderstood your earlier post. Maybe you can see why I thought it had to do with the color, not the monetary definition.

Yeah, I understood why you thought it only had to do with what I was wearing. I initially only explained part of the thought process.