Legal Question in Credit and Debt Law in Georgia
credit card debt
We owe almost 50,000.00 in credit card debt and have had a series of problems like unemployment and medical conditions that have forced us to stop paying these creditors. What should I do? at this point I am about 5 months behind on all the payments and cannot even afford to make payment arrangements with the credit card companies? should I file bankruptcy? What laws do debt settlement companies use to negotiate settlements can I do this myself??
2 Answers from Attorneys
Re: credit card debt
It sounds like you should almost definitely at least speak with a bankruptcy attorney to determine whether filing would be a good idea. There are many factors that would need to be considered. I'm not sure what the second part of your posting is asking.
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Re: credit card debt
To be able to answer you, I'd have to see your financial information. In that almost anything you do at this point could affect your options and ability to file, you should consult with a lawyer before talking to creditors so you don't make any missteps. If you're in metro Atlanta you can download our free worksheet at www.glenashman.com to gather information, and then call me for a consultation. I'd be glad to review your numbers and options.
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