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Its a defacto BK- you are forcing the creditor to renegotiate terms after the fact.
these negotiation services exist to receive a portion of the money you agree to pay the CC companies- the creditors know that if you were inclined you could file BK and they get nothing out of the deal.
You see, CC companies fund these debt negotiation deals hoping you do that instead of BK.
2nd thing, avoid sticking all the debt under a consolidation loan tied to the house, not if you value the house that is.
Easier to tell the back to go cram it, and you get to keep your house if you keep them seperate.. You put it under the house you have to pay it off, or lose the house. Take advantage of any Homestead laws (I think CA has such a thing, unsure)
just the way I'd do it...
rjp
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Last edited by RANDY P; 03-28-2012 at 08:58 PM..
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