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I have been working with CAG for about 18 months now. Not one of my accounts have been paid on, and now I was just served papers for a lawsuit against me for an account that was enrolled with CAG. Has anyone else been in this situation?
Hey Jen Y
Have you gotten in touch with your creditor and explained the situation to them? If not then do it immediately. Immediately drop out of the program and contact your creditors to inform them of your situation. I know what you must be going through and this is really painful.
Hi The above post is mine. I got signed out for some technical problem
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It depends on what you mean by the worse opoitn.Obviously, the foreclosure might be worse because you end up with a poor credit rating as well as losing the home.A bankruptcy might be better, if you can afford the repayment plan in the Chapter 13 and get your creditors paid off and get the house out of foreclosure.But bankruptcy would result in very bad consequences if you filed, couldn't make the payments, and then went back into foreclosure. You'd still end up with the foreclosure but would also have a bankruptcy. That would be the worst scenario.So the question you have to ask yourself is if you can afford the payments during a bankruptcy. If not, then it might not be worth filing. Just take the foreclosure now instead of filing bankruptcy and then going back into foreclosure anyway.Good luck.ForeclosureFishReferences : Was this answer helpful?