Reply to Well that's it, walking away from debt

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[quote=Anonymous]Contact your representatives in Congress.  All congressional offices have staff that deal with constituency case work.

They will be able to give you information on 1) a nonprofit credit counseling service that will negotiate on your behalf to get a better interest rate and 2) programs that help underwater homeowners refinance to a lower interest rate, therefore reducing their monthly payments and freeing up some cash in their budget.

Your congressman (senator or represenative) will have staff that can point you in the right direction.  They get these kinds of inquiries all the time.  In fact, I know of some congressional offices who have had staff intercede on behalf of constituents in dealing with foreclosure issues.

If you are able to refinance and lower your monthly mortgage payment as well as reduce the interest rate on the credit card debt, this will make a huge difference in your monthly bills.  It actually may enable you to resolve your debt issues (or at least get on a path) without having to declare bankruptcy.

If all else fails, then bankruptcy is always an option.  But it may not be necessary.  Seriously, call your representative.[/quote]

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