QUESTION: Help! Debt collectors have been calling me incessantly demanding payment of my outstanding debts, which have grown to a surprising high level because of interest and penalties. The sad part is that while I do want to settle my debts and get rid of these pesky collectors who threaten me with law suits, I cannot because the size of my debt has grown beyond my capacity to repay them. What advice can you give me?asked at Ask a friend, ask Efren free service available at www.personalfinance.ph and Facebook
Answer: There are three basic things you can do, according to the law of man, to get rid of your debts. One is through suspension of payments. This means you will allow your creditors to haul you to court, if the…
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