What is the name of your state (only U.S. law)? IL
So I called a BK atty today, and his assistant asked me a bunch of questions about what I owe on our home, our cars, what kind of debt we're looking at...Told her we use our credit cards to sometimes pay for groceries (OUCH), and we sometimes pull out cash advances to pay on other things (mortgage, cards, etc). She told me that since I'm considering BK, that I should first STOP using my cards. She said, "Obviously, if you don't have the money to buy groceries, then you dont' have the money to pay your cards..."
Told me that it takes a short while for the card companies to start hassling me to pay the payments. In the meantime, we'll get the BK rolling...
I have an appt with her and my husband, to sit down and have her discuss all of our options...but to intentionly STOP PAYING MY CARDS is a little disturbing to me...
Any suggestions???
Also, she wanted to know what we owe on our home and what we owe on our HELOC (considering the 2nd mortgage). Can you please explain to me, what happens if I don't have enough equity in the home, or what if I do? I don't want to lose our house!!!
Thank you!!
Pam
So I called a BK atty today, and his assistant asked me a bunch of questions about what I owe on our home, our cars, what kind of debt we're looking at...Told her we use our credit cards to sometimes pay for groceries (OUCH), and we sometimes pull out cash advances to pay on other things (mortgage, cards, etc). She told me that since I'm considering BK, that I should first STOP using my cards. She said, "Obviously, if you don't have the money to buy groceries, then you dont' have the money to pay your cards..."
Told me that it takes a short while for the card companies to start hassling me to pay the payments. In the meantime, we'll get the BK rolling...
I have an appt with her and my husband, to sit down and have her discuss all of our options...but to intentionly STOP PAYING MY CARDS is a little disturbing to me...
Any suggestions???
Also, she wanted to know what we owe on our home and what we owe on our HELOC (considering the 2nd mortgage). Can you please explain to me, what happens if I don't have enough equity in the home, or what if I do? I don't want to lose our house!!!
Thank you!!
Pam