Well, tomorrow morning we’re meeting with a man (referred to us by my older son’s social worker) who does debt negotiations / repayment plans. She (the CSW) had a friend who owed AMEX 18K but he got it down to 9K.
She said (to me) that most negotiators should be able to get the total debt reduced by 30-50%. When I spoke with him he also stressed that any arrangement has to be livable. It would not do, for instance, to agree to pay X dollars a month and then not be able to keep to that agreement.
I also called Catholic Charities and left a message asking for a referral for marriage counseling.
I have the checkbook now, and all the cards (which my husband says are useless now, anyway).
I really want to get back on the right track.
I raised the issue of bankruptcy with my husband but he feels that it would affect our ability to get another apartment if we moved. (We don’t own our own place.).
I’ve considered shifting assets either into my sister’s or my father’s name, but I am not sure whether there would be a tax consequence to do this. There is also an option to get an installment loan online from this or this website or from similar and to pay off urgent bills.
Above all, I need to preserve what assets I have left, for the sake of my sons.
I think, personally, the 40K back in 2001 was enough. I ask myself, really, who else would have given him this chance of a clean slate.
I am working really hard through feelings of anger/betrayal/disappointment/sadness/fear.
I do believe in God….and I want to save my marriage….and I wonder if any of you out there have a spiritual bent on any of this?? Are there any groups for those in debt needing spiritual support?? I have been praying very hard over this and asking for guidance to find the right path.