Ok, please don’t judge. These decisions were not easy, I did not make them lightly.

My wife was injured in a serious car accident 2 years ago, has had multiple surgeries. She will be receiving a settlement from the other driver’s insurance company within a few months, it appears. And we are moving back to our home state to be closer to family. Because of her injuries and all, we could not afford our house any longer. I recently received a notice of foreclosure. Also, she had about 25,000 in credit card debt, that has not been paid in about 6 months.

What can I do? She will need that settlement money for future medical care, moving expenses, etc. I don’t mind settling SOME of the credit card debt, but no way we can pay it all off now. Also, the house: If they foreclose, so be it. I can’t worry about that, I will just move on. But I don’t know how long that will take, and we are probably still a few months away from settling with the insurance company. Plus, our house is VERY upside down, so I can’t afford to short sale it and pay the difference.

Should I get an attorney, and what good would they do? Could they help us settle those debts and still keep some money for my wife’s future medical expenses?

Technorati Tags: accident 2, car accident, credit card debt, debts, decisions, foreclosure, insurance, insurance company, medical care, medical expenses, moving expenses, settlement money

My husband is 21, unfortunately he has made some horrible decisions in his life regarding money. He is now considered ‘high risk’ by EVERY loan company you can think of, including the NO CREDIT BAD CREDIT NO PROBLEM people, lol. Now his (not mine, my name is not on it, and please remember, I just recently became his wife!) car is up for repossession. He leaves for basic in January, and that will solve many of our money problems. However, we NEED this car, myself and my daughter, while he is in basic and up until that time. How long will it take them to come get it? And the real question I am asking is–with his credit being this horrible, and owing all this money that’s so terribly behind, should he just file bankruptcy?? I know it will freeze the repo and we can at least keep the car. He is only 21, I know that is young, but his credit report is four pages long–of crap he still owes. Would it be better to start over even with a bankruptcy? (my credit is good.)
That is–keep the car for an undetermined amount of time. His mother (imagine that, the apple doesn’t fall far from the tree) filed bankruptcy earlier this year and drove her truck for free for over six months.

Technorati Tags: amount of time, apple, bad credit, bankruptcy, credit report, decisions, high risk, loan company, money problems, repo, repossession, six months