Legal Question in Credit and Debt Law in South Carolina

Credit Debt & High Interest Mortgage

My husband has been through 7 weeks of aggressive radiation treatments and chemo for inoperable stage four cancer. He has credit debt that we are unable to pay, and he also refinanced our home once a couple of years ago when we separated. He is a retired factory worker and the mortgage payment is costing him almost half his pension. What can we do???


Asked on 10/14/08, 6:28 am

1 Answer from Attorneys
Sheryl Schelin Law Office of Sheryl Schelin

Re: Credit Debt & High Interest Mortgage

I can certainly sympathize with your precarious situation. Unfortunately, medical debts are one of the primary driving factors behind bankruptcy and fiscal crisis in this country these days. I can offer you only two real options: declare bankruptcy (which can save your home in a Chapter 13) or either through a combination of income increases and expense reduction radically alter your lifestyle. If your husband were judgment proof, I could offer the third option which is "do nothing" - as there would be nothing the creditor could seize. But since you own your home, that's not an option.

You both really need to speak to a consumer bankruptcy and credit/debtor lawyer soon.

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Answered on 10/15/08, 10:54 am


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