The property was foreclosed in FL and we live in Michigan. They offered $10,500 on $21,000 outstanding balance. Should we go ahead with the offer? We can’t afford an attorney! Please help!

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The settlement amount of 50% is very reasonable to me. However, if you have some other debts of good amount, you could very well opt for bankruptcy as a feasible option.

You say you can’t afford an attorney! How then you’d be providing $10,500? I feel it’s best to file for bankruptcy as there is already a lawsuit against you.

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Last Updated on: Fri, 8 Jun 2018

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