Credit Counseling Requirement Question

[daglo]

Originally Posted by BobandArlyn

You make me pleased. You are welcome. Our life is an open book now. We just don't care. We had always paid our bills on time, never late, paid early, paid more, but, missed reading one statement lowering our credit limit and we overcharged on that card started the landslide to follow.

Charge-offs are just that I would think. The creditors no longer have them on their books to collect. Doesn't do well on the credit score tho. I do not think that charge-offs will be included in your ACTIVE debts at all. It's like Chapter 13, those that do not file a claim to receive distribution of our payments to the Trustee, will charge them off. They aren't included in the bankruptcy and we no longer owe them.

However, who knows how Chase or other institutions will think, but I think you will be OK. Please keep us posted.

We are just like the both of you I believe. We are a couple in our fifties, never late on debts, etc. We experienced a job loss, bad mortgage loan also.We had to use our cazrds to make our mortgage payments until my husband found another job. We tried to work out payment plans with our creditors after the job loss, but they raised our rates, and our payments doubled. We had excellent credit ratings and hated going through this dark period. We did get a loan modification. Now we are working on our debt. We went to Consumer Credit Counseling service, a non-profit, who could not help us. We contacted a BK attorney and went to the initial appointment. It scared us! They told us the second would be stripped, which was good news, but that our payment on our 50,000 of debt plus our car and back taxes would be about $1800. We were horrified. Could it be possible that one can't afford to go bankrupt? I don't know how they figure out these payments without talking to the creditors first, but they go on gross, before taxes, and we get 5600 net. After our house and utilities, that leaves us 2000, and if you take 1800 from that, that gives us 200 a month for food, gas, clothing, and efverything else. How can that be? Can we negoiate with the court on the payment? I don't know. Our attorney is so vague when we ask these questions.

[caldwellb02]

MYHAMP and Dave and everyone - could you please look at the petition to d.c. thread and give the latest petition the once over? We can't have the petition be too long, but I want to make sure our resident experts to look at it with an eye for any details that should be in there. Thanks.

[davephx]

I haven't said anything since I think its is great! Well done.

My only concern is if thousads of individual copies flooding Congress folks etc would be more effective than one petition with a thousand names on it. Would seem massive sending by many could get more attention but I have no idea in reality which is better, or why not do both.

The media may also be more interested in one mass petition so I could argue with myself either way.

[litehouse01]

My opinion.....flood with individual ones rather than one long petition...it has more impact............kinda like in the movie Miricle on 34th Street when the the Post office delivered all the letters santa letters from the kids to the judge..(lol)