However, if you have some other debts of good amount, you could very well opt for bankruptcy as a feasible option.

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!

1 Answers
Votes: 
2 votes
+
Vote up!
-
Vote down!

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.


Ask Question

Waterfall approach to debt free ™

Legal debt relief methodology that works based on your financial conditions. Learn more »

BBB-A--Rating