Credit counseling or BK?

[Interested Sister]

I just found out that my 51 year old brother here in Wisconsin has a charge card balance of $13,000 -- and his only income is his social security disability (due to physical & mental problems). So his income is $850 a month, he lives with his father, and he only has about $1000 in savings -- what should he do to get out of this mess? Thanks for your help!
Interested Sister

 

[HomeGuru]

<BLOCKQUOTE><font size="1" face=" Arial, Verdana, Helvetica">quote:</font><HR>Originally posted by Interested Sister:
I just found out that my 51 year old brother here in Wisconsin has a charge card balance of $13,000 -- and his only income is his social security disability (due to physical & mental problems). So his income is $850 a month, he lives with his father, and he only has about $1000 in savings -- what should he do to get out of this mess? Thanks for your help!
Interested Sister<HR></BLOCKQUOTE>

Try the credit counseling first to see if the creditor will accept the monthly payment that he can afford to make. They should if he threatens BK since they may get even less on a 13 or nothing on a 7.
Make sure you double check with him to see if he has any other debts.