What to do next?



Here's the deal...I retained a lawyer a year ago to file a chapter 7,
in that time my financial situation has changed. I no longer qualify
for chapter 7, but will for a chapter 13. Lawyer wants double the fee
for a chapter 13. I decided to call my creditors on my own to try and
settle. They were all willing to settle for a deal I couldn't really
refuse. (eg. balance of $4400=only pay $2100). The problem with that
is that they won't spread out payments...they want it in one lump sum.
Although my debt will go from $15,000 to about $8,000, if I settle I
dont have that money to pay all at once. I hate to pass up on these
settlements. Any suggestions?




Brett Weiss


If you don't have the money for the lump sum settlements and
can't get it, no matter how good a deal it is, it really isn't an

The fees for chapter 13 cases are typically at least double the
fees for Chapter 7 cases. There is a lot more work involved, and
at least one more court appearance scheduled.


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The Small Print: This response is for discussion purposes only.
It isn't meant to be legal advice and you shouldn't treat it as
such. If you want legal advice, speak with a local lawyer
familiar with your state's laws who can review *all* of the facts
and the law applicable to your situation.

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