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Ok here's my mess: About 4 years back I lost a good paying job of 15 years. Since then it's been temp services for work as jobs in my field are few right now. Needless to say I fell behind on my CCs. I joined up with an outfit called Financira to help with this. Now things are really a mess! 2 judgements. Garnishment... I told Financira to kiss my As^ and got back what I could.... My question is, which way do I turn now?! There are 4 cards. 2 went to judgements. 2 were sold to CAs. Total debt just a bit over $20.000...
This has really turned into a mess!
Any advice would be great!
Thanks
Shayne
You might be able to seek help by consolidation. I say might, because judgement creditors don't often settle for less than balance in full. You may be able to negotiate with the 2 collection agencies...but I don't know how aggressively they litigate.
The only other option I could suggest would be one I usually stay away from--filing for bankruptcy. It would severely impact your credit score, but 2 outstanding judgements don't exactly help much in that way...you might not have much to lose. On the other hand, the threat of filing BK may give you a little bit of leverage to negotiate with all four of your creditors. If you do choose to file, I'd try to consult with an attorney (or several different attorneys, if need be). Keep in mind that attorneys are still out there to sell you their services...just like the fast talking telephone representative that signed you up with Financira. Lastly, be aware that many people are finding that the revamped BK laws favor the creditors now, more than the consumer.
Thank you..... Yup the old score can't get a whole lot worse right now...