You can tell your Granddaughter that you don't walk away from the $20,000 debt. The living expenses will be gone over with a fine toothcomb. Then the income of everyone in the house that your granddaughter is living in is added up. Now you go to see a mediator who proposes a monthly number that you must pay back each month for 36 or 60 months. If you miss a payment anytime during the 60 months there is no do-over, you then owe the entire 20 G'S.
Run towards the creditors who have you on the hook or rather the ones you owe a legitimate debt to and tell them your story and tell them you are trying to come up with a solution. Whatever you do don't hide and avoid those you owe, trust me you'll be sorry. Contact them by phone tomorrow.
I worked with many people over the years who were facing financial ruin, the phone calls each day from collection agents were terrible. The answer is own up to it and forget about BANKRUPTCY over $20,000. It's foolish to do it. Please don't do it. I helped many make the decisions that they were incapable of making. They felt shame. Forget about that, it's strictly business.
|