Question:
Help please , im so desprate. I had this surgery and Im financing it tru this carecredit company. Basically my minimum paym is 185 per month and my interests are about the same.
Naw I realize that I dont have that kind of money to pay every month.. and if I dont pay the interests , my balance wil never lower. CAn I declare bankrupcy? what are the requirements for that
Answers:
The first thing you should do is to call your creditors and see if you can make some different payment arrangements. They don't want you to declare bankruptcy so they may be helpful. Secondly, you can always try and get your loan refinanced at your local bank / credit union. Not paying is not the best option and bankruptcy should be your absolute last option.
You probably don't want to declare bankruptcy over $5,200. Try looking for introductory credit card offers that have 0% interest for the first 6, 12 or 18 months. This will allow you to pay off the principal instead of just interest. When the introductory rate is over, transfer the amount again.
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