Mortgage Forum

Mike

I've posted a couple times in regards to my 1st and 2nd mortgage which I was able to get a forberance from both Countrywide and Chase. I'm really happy that we will be able to keep our home but all of our other debt is not getting paid. We've decided to focus on making the mortgages and have stopped paying all of our credit cards because we just can't afford it right now. My husband and I both have a lot of personal and business debt right now. I noticed that on the HOPE website, they send you to Consumer Credit Counseling. I'm familiar with this type of service but I'm wondering how helpful it would be for us. I'm debating on speaking with an attorney and exploring bankruptcy. I'm also wondering if an attorney would be better at negotiating our debts that a free credit counseling agency. We need a significant reduction in debt and interest rate so that we can get back on track and stop the creditor calls. Does anyone have any thoughts on bankruptcy vs. credit counseling? We have over $100K in personal and business lines of credit. Any suggestions would be greatly appreciated. We just want to do the right thing.