Legal Question in Bankruptcy in Illinois

We had about 50k in credit card debt. Working with settlement company (trying to protect our good credit),and several have been settled on. My husband has one large visa (25k) and i have one large visa (15k). My wages have been attached to pay off my 15k visa. His 25k visa is still with settlement company and nothing has happened with it yet.

Since starting with the settlement company, my husband has lost his job of 32 years with no severence. He is looking for employment, but has not been able to find anything and has been on unemployment since 12-08. I believe his unemployment has just stopped as he did not get a direct deposit check last Thursday and we have to wait to see if he will get another extension.

I have a full time job, but no longer get any OT, and cannot pay our bills, which were always on time. This is the 2nd month that i am unable to pay the mortgage and the 2nd mortgage and am on the road to foreclosure.

My question is: Should I change the settlements to a bankruptcy? Can I do this? If so, how do I go about doing this? I really need some help and would really appreciate any you can give me.

Sincerely, Katie


Asked on 7/02/10, 6:50 am

2 Answers from Attorneys
Charles Dobra Charles Wm. Dobra, Ltd.

Dear Katie;

Bankruptcy is a most viable solution. As you have found out, working with the debt "resolution" companies is fruitless. In my experience, your credit rating would go up with a bankruptcy. I would love to help you. You might call my legal assistant Eileen, who would be most happy to make an "no obligation" "no charge" appointment for you and your husband. Tough times call for tough measures! (630)893-2494.

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Answered on 7/02/10, 10:00 am
Frank Vosholler Law Office of Frank L. Vosholler III

Katie:

I would be happy to help as well and you can call me directly at 708-341-2060. By your credit cards going to collection agencies, this alone is hurting your credit. Please call me so we can discuss how I can help.

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Answered on 7/02/10, 12:49 pm


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