| I found myself in the same situation when the interest rates sky-rocketed and I could no longer afford the morgage payments. Left me 40,000 in debt with no way of paying it all back. And to add insult to injury, I lost my job a month later. I spent two years dodging the morgage lender, until it finally became too much.
I was taken to court by the lender, and they were going to screw me for 500 a month (7/8ths of my ernings at the time). Half way through the precedings the judge took me to one side, and told me to go down stairs to the bankruptcy court and file that day, bring the papers up to him and he'd sign them on the spot. I eneded up paying 100 a month for 3 years, kept my car (which the lender wanted sold for immediate payment) and was even helped through it all by the very kind bankruptcy woman who handled my case.
I know it sounds tough at the moment, but you will be glad you did it in the end. It really did take a huge weight off my shoulders, and stopped me from going loopy.
Good luck too you. And keep your chin up. |
