Legal Question in Credit and Debt Law in Texas

Loads of debt/No money

I have around 80k worth of Credit card debit on 5 cards I am 2 payments behind, I have had a credit counsel and do not make enough money to pay, the cards are now charging 30% interest and do not want to help, should I file chapter 7 now or make settlement arrangement.

I have a small business DBA not making enough to pay all bills for the business.

a couple of pieces of mortgaged property. No saving left no retirement. 2 autos 1 still making payments on.

What will happen if I do nothing and don't pay my Credit cards? I live in Texas.

Can the CC take my property?


Asked on 8/07/06, 10:27 am

1 Answer from Attorneys
James Grissom Law Office of James P. Grissom

Re: Loads of debt/No money

Yes,theCC companies can go after your property - even if it is mtgd. You might talk to a bankruptcy lawyer for advice on your options in Ch. 7.

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Answered on 8/07/06, 10:57 am


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