Revisiting Debt Settlement (Again?) - bit.ly/1mG199M - I know we were all raised to pay our debts. And most of us have an incredible urge to pay no matter what. The reality is it may not be possible. Here is article explaining some of the choices you have once you get in over your head; Assuming that there are no “non-exempt” assets, and no other issues, a bankruptcy case could be completed for costs of approximately $3,000.00. For a debt settlement and all creditors take 40% and not counting any attorney’s fees or the like, you would pay $36,000.00. In addition, you could face a tax liability for the $54,000 in debt that is cancelled and attributed as income to you. If you are having a problem, talk to an attorney you trust ... and the earlier, the better ...
Posted on: Thu, 08 May 2014 13:15:08 +0000
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