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Roger
Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31692
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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What is the best route for a person that wants to pay the creditors

Customer Question

What is the best route for a person that wants to pay the creditors but wants to stop the calls and extra charges.

The creditors have been contacted, but even the reduced payments are currently too much.
Submitted: 3 years ago.
Category: Bankruptcy Law
Expert:  Roger replied 3 years ago.

Roger :

Hi - my name is Roger and I'm a Bankruptcy litigation attorney. Thanks for your question.

Roger :

It's fairly easy to stop the creditors from calling. You have a right under the Fair Debt Collection Practices Act to write the creditors a letter and demand that they cease to contact you. The creditors are required by law to stop. HOWEVER, when this is done, they usually switch gears and proceed directly to filing lawsuits to collect.

Roger :

The BEST way to repay creditors on your terms and to stop any collection attempts, fees, etc. is to file chapter 13 bankruptcy. With this filing, you would be allowed to set up a repayment plan that you can afford and make payments through the bankruptcy trustee. Here's a good link you can read about how chapter 13 works: http://www.uscourts.gov/FederalCourts/Bankruptcy/BankruptcyBasics/Chapter13.aspx

Roger :

If you want to go this route, you certainly should consult a local bankruptcy lawyer about getting a petition filed on your behalf.

Roger :

I see that you've gone offline, so I'm going to step away. If you need something further, please make a post and I'll be notified you're back online, and I'll come right back so we can continue.