advice needed: Chap 7, Chap 13, debt Management

[Bearmo01]

Hi,

I have a weird question that I need advice with please.

I'm married, but things are going south especially now with the financial situation we're in (long story). As a couple we make to much to file a 7, so we looked in to a 13 and the payments will run us about $2800 per month. It's looking more and more like we will divorce, (not just because of the payments, it's much more than that) My Attorney told me I could qualify for a 7 on my own (wife makes much more than I) so she'd be left filing a 13.

My question, can she enter into a debt management program like with Greenpath or similar, or would she be better of just doing a 13? I'm just wondering what might be the least expensive route for her to take.

Friends tell me screw it, who cares what she does, but I do care we did have a life together, can't shut it all down that easily.

Thanks in advance for any advice given...I appreciate it.

BTW, if it matters, we're in AZ.

[keepinitreal]

My question, can she enter into a debt management program like with Greenpath or similar, or would she be better of just doing a 13? I'm just wondering what might be the least expensive route for her to take.

It's impossible to say not knowing her debts, income, expenses, etc.

I think you should suggest to her that she get a free consultation with a bankruptcy attorney to determine the answer to this question.

[Bearmo01]

Thanks Keepinitreal,

I should rephrase the question. Is it even a viable option for someone to enter into a debt management program when their ex-spouse has filed a Chap 7 or would a 13 be the better option?

Thanks again to all!

[HHM]

Hard to say, but 9 times out of 10, debt management is ALWAYS more expensive than a 13. True debt management is consumer credit counseling, which devises a plan to pay off your debt IN FULL within 60 months with a reduced interest rate, (3-9%). Debt settlement (which is often termed debt management) is usually a dead end. But debt settlement is a negotiation with your creditors to pay a lump sum cash payment to consider the debt paid in full (e.g. you owe Chase $10,000, and you negotiate a lump sum payment of $4,500). However, to motivate settlement, you must stop making the payments.

ALL these options wreck your credit, so don't let that factor enter into the decision making process.