Jay asked:


I need a Loan Modification and I need Debt Relief. I no longer have the ability to pay my debts. My home has no equity. while I am not behind, very shortly I will be. I have a massive amount of credit card and unsecured debt, maybe $300,000 and my wife who does not work has another $50,000. What should be the order in which one would proceed? Loan Mod first or Debt Relief First, or both at the same time?

I have read all about the debt relief specialists, and they seem more like sharks than anything else. I have read some good articles about how to do it your self. It seems like a lot of time I am willing to do that, however I have not lost my job, and really need to concentrate on work when I am at work. I have to deal with Bofa, Chase, Citibank, CapitalOne, Advanta, and then my 1st and 2nd loan. Good God what a mess.

I was at a seminar for something else, and someone instructed me to contact a lawyer to help negotiate this mess.

Any constructive comments would be helpful.