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Is it possible to do a proposal to my creditors to pay this equity in and would they consider this as a viable offer?
posted by Questions @ 9:08 AM
Posted on Friday, July 13, 2007
I owe approx. $86,000, mostly credit card and lines of credit at a variety of financial institutions. I cannot continue to make all regular payments, perhaps I could sell my home but the equity after commissions etc would only be around 40k.
1 Comments:
At 4:13 PM,
Barton Goth, GCO, Bankruptcy Trustees said…
You might also find that because you are able to have up to $40,000 equity in a principle residence, it may be possible for you to keep the house, make payments over time and still settle the debts for significantly less than the full amount of the principle.
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