I have been having some mental health issues for the last year and have been on short term disability twice. When I return to work in April I’m pretty sure I will be fired. My question is, I bought a house 3yrs ago I owe 104,000 and could probably sell for 140,000. After fees and repairs ect I would make 30,000 which would pay off my other debt.
I could also let my other debt get behind and keep up on my house payments then declare banckruptcy. Could I keep my house then? I could probably get a less mentally taxing job that I could pay my mortgage with.
Or should I try to go through one of those debt counseling places? I know I am still current with my bills right now, but this keeps me up at night.
Oh, and I do have a friend I can stay with for a year if I sell my house.
Should I sell my house, declare bankruptcy, or try debt counseling?
Posted by admin on March 12th, 2010
Posted in Debt Counseling 
I work for a company that does debt consilidation loans. As long as your credit score is above 500, I can help you pay off everthing on you credit report, If your interested email me bengraves83@yahoo.com, This is my personal but I will give you my business address. It’s a public company traded on the stock exchange, and are for real. I just don’t want to get a ton of spam emails on my work address.
I know in California if you can sell your house and profit 75,000 they wont let you file bankruptcy. so you might want to check your state laws and see what they say. If you contact one of those debt counseling places they will require you to cancel all your credit cards that way you cant just charge them up again. If you have other bills than credit cards try to get them to understand your situation and make small payments to them some money is better than no money. I hope your condition gets better.
Have you thought of getting a roommate. If you don’t sell your house. You should use some credit debt counseling.
That way your bills will be lower.
Take Care,
Incomestrom
http://homeincomebiz.ws/onlinejobs.html
-
-
bankruptcy only allows you a certain % of what your allowed to own….I doubt they will let you file with a home worth 140K…..depending what state your in, here in Tenn. and in Ky, you can only own less than 10k in assets, and they want you to list everything down to toilet paper and dog food, I know 3 people who have filed for it, in Ky, it is less than 7 thousand you can own…..You can take a chance someone will buy your house, if you use a real estate company, they will get a nice chunk, if you sell it yourself, you can screw yourself, paper work and legalities……Keep up with your house payments, debt counselors, most want up front fees, I would search and ask about those people before doing anything….There are debt counselors that your bank could recommend that may be more on the up and up then those infomercial ones, and check in your state about "medical" bankruptcy, where it is all consolidated, and you pay it back….Short term disability, if the problems you are having are going to be reoccurring, I would try for total disability, alcoholics and drug addicts and Obese people who buy 8 bottles of soda pop (actually witnessed someone I know, on total disability, buying a cart of Junk Food! pissed me off) can get total disability…..If your ok, and things are looking better, try finding a new job now. I think, the worst that can happen is they put a lein on your house, which means you can’t sell it unless you pay the debts off, or go to court and a payment arrangement will be made…..Look into everything before the bankruptcy, the lawyers will want at least $800-1,200.00 up front to even start the process…….. best of luck to you….
Make a list of everyone you know and join my business at
http://www.angelbowen.com or ambiance_co@yahoo.com
Fill out the form.
We work with those who have disabilities
Is this your dream house? If so, then do whatever you have to do to keep yourself from losing or having to sell it. If you can imagine yourself buying another home in the future and being just as happy, then, sell it before it is too late. make some money off of it, pay off your debts. Live with your friend for a while, get your life together and start over. I hope this helps. Good luck.