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Question
We had 2 loans through Blue Ribbon Foods which were sold to Jefferson Financial; one for food, a second for freezer an lifetime guarantee on their food in freezer. Paid off food loan early. Had trouble with freezer and guarantee loan of 3500 plus. Got behind. Went with incharge debt solutions. Jefferson did not respond to Incharge proposal, but we were sendin 75 per month...so jefferson upped the late fee to 83 per month, and says they will do this for 18 months before they even consider working with us...would not give incharge personnel a monthly payment amount which would satisfy him and allow payment to go at least partly toward principal. we have send $450 through incharge, and the amount owed is now higher than when we began. do we have any recourse? The 1600 for the guarantee is useless, since we will not be buying their food ever again anyway...Chris
Debt management is never a good idea. They are not on your side. They work for the creditors and/or for themselves.
What are your options?
Not enough facts to say for sure, but by all means, don't send them any more money.
Bankruptcy might be a good option for you, but it just depends on facts you don't state in your question. Call me if you like. I will not charge you just to talk on the phone. Call me on my call 661 492-2673
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Answers by Expert:
John Hall
Expertise
Law school graduate, Juris Doctorate (J.D.) Degree; Over 25 years of experience throughout the United States in bankruptcy law matters (Chapters 7, 11, and 13 of the United States Bankruptcy Code) primarily representing individual debtors with consumer debt or small businesses; Experience has included all aspects of debtor/creditor relations.
Experience
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