50K unsecured + 80K$ secured debt

November 29th, 2011 by Questions

i’ve had enough,
permanetly ill, on a reduced income 1300/mthly. credit debt 50k$. mtg 30K+ 50K secured line of credit total =80K secured.

min payments are unbarable. i DONT want to sell my home, no other assets or additional income, i don’t have much extra to live after…need help

Posted from: Quebec


One Response to “50K unsecured + 80K$ secured debt”

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

What you need to do is meet with a local trustee. They will be able to review your situation and explain what options are applicable. When you meet with them they will need the above details, but will also need to know the market value of the home. The property has to be considered, whether there will be any way to deal with the debts and not impact the property will largely depend on what the market value is.

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