http://www.sourcing-from-china.com/can-credit-card-company-sue-me/ Sourcing from china review. china products sourcing,sourcing in china Tue, 26 Oct 2010 07:33:09 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.sourcing-from-china.com/can-credit-card-company-sue-me/comment-page-1/#comment-6897 MJ Fri, 04 Dec 2009 13:47:50 +0000 http://www.sourcing-from-china.com/can-credit-card-company-sue-me/#comment-6897 Do you have any equity in your home? If so, you could consider pulling out some of your equity via a home equity loan or a HELOC (home equity line of credit)...and use it to pay off the cards in full. That would get you out of trouble, and reduce your monthly payment to a much more affordable amount...on 40k the payment on a equity loan would be around 200-250. If you don't have any equity, then you could try and call the creditors and tell them of your situation, and see if you could negotiate a lower monthly payment, or some other arrangement. Your other option is chapter 7 or chapter 13 bankruptcy as a last resort. Good luck! Do you have any equity in your home? If so, you could consider pulling out some of your equity via a home equity loan or a HELOC (home equity line of credit)…and use it to pay off the cards in full. That would get you out of trouble, and reduce your monthly payment to a much more affordable amount…on 40k the payment on a equity loan would be around 200-250.
If you don’t have any equity, then you could try and call the creditors and tell them of your situation, and see if you could negotiate a lower monthly payment, or some other arrangement.
Your other option is chapter 7 or chapter 13 bankruptcy as a last resort.
Good luck!

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