Waters, MI Bankruptcy Law Firms & Lawyers

Generally, people can restore a decent credit rating within two years of filing bankruptcy. Just be careful to make all your payments on time after the bankruptcy.

Most, if no all, debt negotiation programs you see advertising on TV and publications are not good for you because they charge too much and don't pay your debts until they get paid first (although the government now limits that) and don't pay any debts until they have accumulated sufficient funds to settle each account. While the funds accumulate the bank gets tired of waiting and sues you. Also, there is no guarantee that the banks will accept what the programs represent to you will be accepted and some of those companies have disappeared with the money. Therefore, bankruptcy is usually a better choice to discharge all the unsecured debts such as credit card bills, medical bills, balances of repossessed vehicles and second loans after foreclosures. Talk to a bankruptcy attorney about that option to see if that would be better for you. There are legitimate debt negotiation companies where the fee is small because the companies are subsidized by the creditors and they can reduce the interest and eliminate late charges but you will pay the entire amount owed over a number of years. Banks participating in the consolidation program will not bother you while you are paying since they are members of the consolidation program (and pay some of the bills of the consolidation companies).

This does not seem proper. If there was a payment on the arrears each month that should have brought your loan to date as of the completion of your chapter 13. You should talk to your former attorney.