Hello my name is derek, I live in FL and i have about 25k in debt owed to 2 major CC companies. I have been a perfect consumer for last 10 years while accruing this debt and have NEVER been late on a single payment. I was laid off from my job in November and have been searching for employment. I have been getting unemployment which covers fuel food water & phone but not enough to cover mortgage or the 2 credit card payments. I called them the day i was laid off and explained and i have answered every call from them BUT the calls are getting more frequent and more aggressive. The 2 CCC said they are going to file a lawsuit and garnish wages (can they garnish unemployment?) and take my home. I have been working with my Lender on my MGT they are getting me into a program to avoid foreclosure. My intentions are to pay the debt however i am concerned cause i will not be making close to the salary i was before so i am not sure i will be able to pay the debt even after i get gainful employment.
I would appreciate any suggestions, should i pursue Bankruptcy..
Thank you!
I would appreciate any suggestions, should i pursue Bankruptcy..
Thank you!