Uncle Saved Us With Bankruptcy Help Ideas
We were a happy family, and were doing good with the income that husband Peter drew from his job. Things were rolling perfectly and I being a homemaker was content with my life. Being a middle class family we were into small and big debts to the banks for house, car and a few things, but always paid our installments on time.
Peter one day lost his job
Suddenly one day my husband’s workplace got shut down due to some legal issue, and he lost his job. We knew a job is a must or else we won’t be able to survive on our savings only, when we had to pay the monthly installments for the loans etc.
Naturally Peter was looking for a new job, and I started doing all sorts of things possible by me from home to help with the daily expenses. We were surviving on our savings, and were praying each day that Peter gets a good job. However Peter fell ill badly. He was actually quiet traumatized with the little available jobs and his desperation, and thus could not bear with the emotional upheavals.
We were losing our savings
With monthly debt clearances and treatment of Peter, our constantly diminishing savings struck the rock bottom and we were only left with jewelry and household stuff to pawn or sell, so that we could pay those debts which once didn’t matter much to us with regular income.
We decided to declare bankruptcy. But then my uncle came as the bankruptcy help and told us that declaring bankruptcy should be the last step to take, and before that we must see what other ways are left for survival and debt clearance. He even said that if we need to sell the car or the house, then also its ok, as we will be able to recover the losses. But bankruptcy would be a bad stamp on our reputation and credit score, which would not let us get loans or other financial grants for a long time in standard interest rates, and will spoil our credit score forever.