If one has filed a Chapter 13 Wage Earner Plan and is already making payments with the Trustee will they be debt free at the end of the 5 years their lawyer stated. Will they be liable for any late payments, or in this instance a balloon payment was on a loan. The party was not delinquent on any bills when this was initiated. Loan payment bills are still being sent showing several thousand dollars in late fees and I don’t understand why. This is the only creditor contacting the party with monthly statements. Payments are being made but the principle is not going down on the statement.

I have 4 major credit cards. After moving to another state I racked up $25000 of debt. My rates increased from 9%/11.99% to 29.99%. The credit company informed me they can increase my rates when they feel like it although I have never never made a late payment. Ive called three times to get a reduction…no luck. Should I file Chapter 7 bankruptcy??I cant keep paying $1000 a month to have it only apply to interest. The cards will never get paid off.I have been declined for a personal loan twice. I make about $6-$8 thousand a month but it barely covers my bills. What can I do??

I have no assets, only 43,000.00 in credit card debt. We are seniors with not a lot of time left, but need to take action on getting our debt cleared. We have used credit cards for moving expenses and medical. Basically we have nothing to lose. We want to pay our bills and have been talking with consumer credit counseling but we are not sure that is the way to go. What would be our best way? We have been using gift money from our 50th to sustain us.