Too much debt? What do to?

I am 30 years old male in NC. I am about 20,000.00 in credit card debt. I have a home, and I took out a second mortgage 2 years ago to, yes, payoff more credit card debt. I have learned a expensive lession, one that I regret everyday! Anyway, I work and make about 35,000 a year, and I just make it on that! I live with my girlfriend, but do own a home, it is currently being used as rental property. I do not wish to declare bankruptcy, howere things are leaning very heavily toward that. What other options do I have? I am extended on credit about as much as I can be. Do those credit counciling services work? Can they really help me? What if I just ignore the debt, aside from ruining my credit, what else could happen, garnish wages, lawsuits?? Please please, any advise would be appreicated. I need help! Thank for you time.

Dave

Dave -

Sorry to hear of problems but glad to see you are trying to deal with them. Ignoring the debt is not the answer. It will work for awhile till you get sued and get a judgment against you. At that point your wages and bank accounts may be at risk.

You need to site down and at least talk with a good local bankruptcy lawyer. It may cost you nothing for the first appointment. That way, you can start to make some informed decisions.

Here is a resource on bankruptcy alternatives that Cathy Moran put together. It's the best I have seen. If it helps let Cathy know. I do not know if she appreciates how helpful that info is to many people. [url="http://moranlaw.net/consider.htm"]http://moranlaw.net/consider.htm[/url]

Finally, you can find a lawyer here at Free Advice or on our site in our [url="http://www.prairielaw.com/findalawyer.asp"]Find a Lawyer Directory[/url]. In an effort to best serve our users we affiliated with lawyers.com, a service of ******dale-Hubbell, a data base of 420,000 lawyers and the definitive guide to American lawyers.

Law on, Kevin

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Kevin O'Keefe
Founder & Fearless Community Leader
[url="http://www.prairielaw.com"]Prairielaw.com[/url]
"More people helping people with the law than anywhere."



[This message has been edited by Prairielaw (edited July 23, 2000).]