Hello,
I have about 23k in CC debt from Chase and havent paid in 3-4 months. The calls from Chase stopped recently and I just received a letter from an attorney giving me 30 days to dispute the debt. If not disputed they will seek a judgement. I do own the debt and located in CT. I will file Chap 7 on my credit cards if I have to. I also have an 80/20 mortgage. I paid $240k and the home is worth approx 185k. I havent paid the 2nd thru BOA for almost a year and Im currently under the trial period for HAMP on the 1st. I want to keep the home.
Question, whats my best strategy at this point? I will be unemployed starting in June and get severence thru July 10. I will be on unemployment for at least a year. They cant garnish unemployment wages, correct? I have no equity except for my 401K. And i dont have more than $2,500 in my bank acct at any given time. If they fail to garnesh my wages since im unemployed, how often do they try again since I might be working for a new employer a year later.
I have about 23k in CC debt from Chase and havent paid in 3-4 months. The calls from Chase stopped recently and I just received a letter from an attorney giving me 30 days to dispute the debt. If not disputed they will seek a judgement. I do own the debt and located in CT. I will file Chap 7 on my credit cards if I have to. I also have an 80/20 mortgage. I paid $240k and the home is worth approx 185k. I havent paid the 2nd thru BOA for almost a year and Im currently under the trial period for HAMP on the 1st. I want to keep the home.
Question, whats my best strategy at this point? I will be unemployed starting in June and get severence thru July 10. I will be on unemployment for at least a year. They cant garnish unemployment wages, correct? I have no equity except for my 401K. And i dont have more than $2,500 in my bank acct at any given time. If they fail to garnesh my wages since im unemployed, how often do they try again since I might be working for a new employer a year later.