I was recently asked by a friend if it was better for them to pay down their mortgage or pay off their credit cards. I answered him with a question of my own. I asked him if he was given the option of the following two investments which would he choose?
JOE ASKED: I have personal loans with two different friends that alone equal $15,000. Can these loans be eliminated with personal bankruptcy? Can I keep my mortgage?
Many people wait too long to get the debt help they need.
If you file personal bankruptcy any equity that you have in your home becomes property of your bankrupt estate.
Make sure you have a plan to pay off your credit card debt.