cheif13

[cheif13]

What is the name of your state? NY
I have about 50,000 inb credit card debt with over half of this in interest which has been adding up and now some of these cards have been bought my debt from crdit card co and are in pursuit, i think i have only the option to file for bankruptcy, i am a little confused if this is bestoption, i certainly can't afford to pay this amount i do not have this money. Are news laws in effect now with bankruptcy?
Any help advice would be appreciated?

 

[sbever]

When I talked to my lawyer about this new law, he said although it has not passed (as of 3/11) he said it would pass but he thought it would probably take up to 6 months for it to go into effect... don't take my word for it though.. I'm just saying what I have heard.

 

[cheif13]

Any help would be great maybe there is a way to start over?

 

[Ladynred]

The new law has not passed yet and it will not become law until 6 months AFTER Pres. Bush signs it - and that won't happen until after the House kicks it around after their Easter recess.

With 50K in debt, I'd say file for bankruptcy if your income isn't enough to pay it, and you have few assets. Go to www.thebankrutpcysite.com and start reading so you know what's involved, but don't wait too long.

 

[SinkingFast]

bankruptcy site

Hi, Ladynred.
Just wanted to point out that your link to the bankruptcy site wouldn't work until I noticed you had the "p" and "t" turned around. Having a dyslexic moment?
Thought I'd mention it for those who follow.
Thanks for your time and suggestions on here.

SF

 

[Ladynred]

No, my sister's they dyslexic one, but sometimes my fingers go faster than my brain... lol. Sorry 'bout that, but glad you caught the typo