i am a widow(low income); how can i renegotiate a line of credit on both mine and my late husband name?

July 17th, 2012 by Questions

my husband recently passed away
he owned a private business- wich was our only source of income
i am left with debt on a line of credit of $260.000 and about $100.000 in joint credit cards
how can i renegotiate the line of credit?
i have practically no credit score anyway

Posted from: Ontario

Questions

One Response to “i am a widow(low income); how can i renegotiate a line of credit on both mine and my late husband name?”



, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

It will be challenging to re-negotiate this line of credit especially if you don’t have the ability to qualify for the loans on your own. But you first start with explaining your situation and then explain you have no way of paying this in full and ask for any help they can offer. Now you need to be prepared that they could very easily say no and if they do you may have to look at a bankruptcy or something of that nature. But that is where you start.

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