We are in the foreclsure process & are trying to process loan modifications to by time so we can stay here longer. My husband was in the New Home industry and lost his job 2 years ago, go some part time work and now is working 5 hours away for 1/3 of his previous salary. We have resigned ourselves to take the credit ding for the foreclosure and are now trying to decide what to do about our 75K in credit card debt. Should not have used the CC's to pay bills, but who knew it would drag out for this long!
Is it true that CC Companies have insurance that pays them up to 70% of the debt when a consumer does not pay?
So need information about informal bankruptcy. All our CC's are in either my name or my husband. We don't have any cards with both names. I want to just stop paying my CC's. If possible we will pay his cards to try to keep all the bad stuff in my name? Besides the horrible calls, in California can they:
Garnish my wages?
Garnish my husband's wages?
Place liens? And where would these be placed?
How long before they write off the debt?
Answers to these questions and any feedback is GREATLY appreciated. We want to start over and get this nightmare behind us.
Is it true that CC Companies have insurance that pays them up to 70% of the debt when a consumer does not pay?
So need information about informal bankruptcy. All our CC's are in either my name or my husband. We don't have any cards with both names. I want to just stop paying my CC's. If possible we will pay his cards to try to keep all the bad stuff in my name? Besides the horrible calls, in California can they:
Garnish my wages?
Garnish my husband's wages?
Place liens? And where would these be placed?
How long before they write off the debt?
Answers to these questions and any feedback is GREATLY appreciated. We want to start over and get this nightmare behind us.
