Behind on my bills, can I get in trouble? what do i do?

[Stuedabker]

My girlfriend has just resently lost her job in the last yr. and now about 5 of our credit cards have not been paid because we are trying to just make our mortgage payment and car payment......we have other expenses also like utilities...are we gonna get in some sort of mess for not paying because we right now just simply can not pay these bills not even ten dollers to some....with the cost of gas and food these days what should we do??
worried,
jeb

[Credit Expert]

Before I answer your question let me first advise you that I am not an attorney and legally cannot provide legal advice. I am an experienced credit analyst and knowledgeable in the credit, financing, debt and collection industries. I enjoy helping people and sincerely hope that my answer can help assist you in some way.

My opinion is: You have limited options if you are in debt payments are above your income. Here are the basic options you have.

A) Borrow Money (refinance if possible, family member loan, unsecured loan etc..)
B) Credit Counseling (CCCS)
C) Debt Settlement (Negotiate Balances)
D) Bankruptcy
E) Minimum Payments
F) Not Do Anything

All of these will have consequences and there is a lot of information that I would need to know to determine which option I believe would be in your best interest. You cannot get in any criminal trouble for not paying bills but creditors have the right to sue you and attempt to collect by garnishment. Not doing anything is a really bad idea so I recommend you research your options before you do anything. I can refer you to good companies if you would like some assistance with CCCS or debt settlement. Here are some good articles that help you further: http://expert-debt-advice.com/resources ... -debt.html, http://expert-debt-advice.com/resources ... facts.html


Hope the information helped. Once you pay off your debt, file bankruptcy or get in a better financial situation and you are interested in improving your credit reports, feel free to contact me if you would like some help cleaning up your credit. You can enroll at http://www.CreditAgenda.com.



Take Care

[zanelindsay615]

Credit counseling works
best for the majority of
Americans who are in deep
credit card debt and many of
them are struggling to make
their payments on time.
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Debt Counseling