A world of mixed emotions: ADVICE NEEDED!

[newbeginning]

Thank you all!

Spoke with some of my creditors and every one of them were sympathetic. One creditor offered to settle by having me pay only 2500 of a 20,000 debt. An offer that one could not dismiss under normal situations, but my situation is far from normal. With the other medical bills and outstanding CC debt, I am in no position to take advantage of even that.

Another conversation ended abruptly with an apology and no further inquiry about whether or not if and when I could make arrangements for payment. That one kind of threw me for a loop. It was as though she was eager to get off the phone after explaining my situation.

Anyway, thanks for that advice. Some of these people are human after all. Good to know. I am determined to contact all of our creditors. It is actually therapeutic and a relief to do so.

[Flamingo]

Thank you all!

Spoke with some of my creditors and every one of them were sympathetic. One creditor offered to settle by having me pay only 2500 of a 20,000 debt. An offer that one could not dismiss under normal situations, but my situation is far from normal. With the other medical bills and outstanding CC debt, I am in no position to take advantage of even that.

Another conversation ended abruptly with an apology and no further inquiry about whether or not if and when I could make arrangements for payment. That one kind of threw me for a loop. It was as though she was eager to get off the phone after explaining my situation.

Anyway, thanks for that advice. Some of these people are human after all. Good to know. I am determined to contact all of our creditors. It is actually therapeutic and a relief to do so.

Be careful with debt settlement offers. The forgiven amount will end up as taxable income for you next year and you will receive a 1099 from the creditor for the forgiven amount. I know you are under a lot of pressure right now but before you sign anything, do some research. I have to get to work now and don't have time to write anymore on this but maybe someone else can chime in and explain a bit to you.

[newbeginning]

Thanks Flamingo. Valuable information that I knew, but didn't consider when pondering over whether to take the settlement or not. Needless to say, consideration lasted 15-seconds considering I can't even take advantage of that generous offer.

That's all i'd need with an uncertain future (financially) is to have to owe more money to someone (taxes).

Found out yesterday that my hospital bill is now at 1.1 million dollars. Thank GOD for insurance, but what remains for us will be ugly.

Thank you.

[steveiLife]

Negotiate it.

Before filing a BK and if this is your only major debt problem, you may just want to tell them your situation and try to negotiate term or settlement options with them. Just an idea.

Wishing health to your wife and child!