We have a rental property with a mortgage (the rent makes the mortgage payments on that property) The home we live in also has a mortgage. My husband receives SSD and a small monthly pension. Not much money is left after paying the mortgage loan/taxes and insurance. I have never worked and don't receive any income. We have high cc debt (unsecured) as well as my husbands medical bills before he had med. insurance.
I've been trying to talk him into selling BOTH houses and pay off what is owed on each and use the remaining balance to purchase a cheaper home to make ends meet. We wouldn't have anymore mortgage payments to worry about if we did this. My husband disagrees... he thinks if he sells the houses the credit card companies will step in and take what they were owed and there won't be enough money to purchase another home. Can cc companies do this? Any advice would be appreciated. Thank you.
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.