Debt Troubles?--Prioritize it!
Because you have debt troubles, this list will help you prioritize your debt—beginning with high priority creditors you should definitely pay first, then optional payments to select creditors. Get a cup of coffee before you read this! Credit card debt divorce, debt consolidation, and consumer credit counseling will be explained in more detail on another page. For now, ONLY if you are sure you are going to go bankrupt, it is better to stop paying the credit card bills, make this a lower priority debt, and put the money towards paying neccessities and high priority debts.
Making smart choices now will help clear debt.
If you have any other debts, such as credit card debt—which is unsecured, any loans which are secured with collateral, student loans, medical bills?
More on medium to lower-priority debts soon. You may also like to read about Daniel and Josephine's personal journey out of debt at Eliminate Credit Card Debts
Quick Notes on Personal Bankruptcy
Considering a personal bankruptcy, and/or foreclosure? Please get your education here by reading the following article:
If you choose to not pay your property taxes or mortgage, eventually your house will foreclose. If you file for chapter 7 bankruptcy, the creditors will stop calling, writing, and communicating with you. Chapter 7 will also discharge all or most of your unsecured debt. Chapter 13 bankruptcy means that the consumer makes too much money to file for chapter 7, and must REPAY some of the money he/she owes, over a period of time.
I highly urge anyone considering a bankruptcy to get more information about it immediately:
If you are pretty sure you need to file, this is the place to go! Legalzoom's rates are terrific--I have looked around at other company's rates for each state and experienced LZ's customer service for myself (with prices ranging from $1,099 to $2,099, plus the filing fee for the state, with the average state being $1,399).
The process is simple to get more information. You go to Legalzoom through the following link,
and register/sign in. This is important because Legalzoom saves all of your information so you can add/modify it for your custom documents. You complete the questionnaire, and an attorney will call you for a FREE consult. Only after that, do you decide if you'd like to use the attorney to customize your bankruptcy documents.
Legalzoom is highly experienced in preparing documents, however, if you require consumer credit counseling or debt consolidation, then the company to use is CareOne.
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