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Posted in Bankruptcy
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Question By
Toni808

2 Contributions
4 People Helped
Considering bankruptcy - Can i only discharge certain debts that I'm unable to pay down?
Situation: I have a tuition bill from my last term in school that I'm unable to pay down. The balance is about 17k. The collection agency is willing to go on a payment plan but only if I can pay it off in a year. That's not possible! I only make 38k!

My other debts - student loans, 2 CCs, etc are all in good standing. However my credit score (659) and lack of collateral (only a 8yr old car) don't make me a good candidate for a loan (not to mention the agency placed a mark on my credit report)

I want to handle this bill but I think my only option is bankruptcy. Is it possible to only seek to discharge this one bill and keep my CCs open? Are there any other options?

I don't have family cosign on a loan or anything so that isn't an option either.

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Top Contributor
1132 Contributions
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Don't file for BK! That option is only when you are at the end of your rope! a 659 is considered average credit! Do this! Send in a resonable payment (in the form of a check, money order) Along with a letter stating that this is your most reasonable and affordable offer that you are able to pay each month. They will more that likely accept the payment. If they return the payment, make a copy of the return letter and the letter you sent them for future support. Need a mental boost? Check out Dave Ramsey and Browse around his site and watch some videos. Good luck my friend, hang in there you'll be fine! I beleive you will make it out of this thing! (smile)

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