Things You'll Need:
- Loan officer
- Attorney who specializes in bankruptcies
- Reputable credit counselor
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Step 1
Speak to two or three different credit counseling agencies to find the one that most closely meets your needs.
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Step 2
Establish up front what you will be charged for accepting the credit counselor's help. Remember that just because an agency says it is not for profit does not mean that it provides free services.
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Step 3
Establish how much of your monthly payment will go to your creditors and how much will be retained by the agency for fees before entering a debt-management plan.
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Step 4
Check with the local Better Business Bureau to make sure the agency you choose is reputable. For more information on locating a reputable agency, visit the Federal Trade Commission Fiscal Fitness website (see Resources below).
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Step 1
Do your research. Determine what your home is worth and what kind of monthly payment you can realistically afford. Use home-equity loan calculators to help you estimate your future monthly payment.
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Step 2
Remember that when you get a home-equity loan, you are using your house as collateral. If you fail to make payments as agreed, you could lose your home.
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Step 1
Find an attorney who specializes in bankruptcy. Bankruptcy laws have recently changed and become more complicated, so you're likely to get a better deal if you are represented by an attorney. BankruptcyLawFirms.com enables you to search for a bankruptcy attorney by ZIP code (see Resources below).
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Step 2
Be prepared to have some of your assets sold or enter into a repayment plan with the court.
