I own a home free and clear no mortgage. I have not so great credit due to filing bankruptcy not long ago. I have $6,107.86 in new credit card debt but the interest rates are high and I will never pay them off can I get a loan to pay these off with using my home as secured payment my payments now are $197.00 a month need to reduce this. Should I look into something or leave it alone?
Consult with your bankruptcy attorney so that you can discuss the newly acquired debt as this can affect your bankruptcy filing. Your lawyer should also be able to tell you how likely the court will be to grant your motion to reopen your case based on his/her previous experience with the courts in your federal district and with the individual judge and trustee involved.
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.