Especially if $ 30,000 in past payments will also be lost in space as a result of that as well. $ 30,000 which could have paid my mother's maxed out high interest credit card, paid for badly needed repairs inside the house, or even get my father his own car. I am still going to try an amendment to reduce that payment since $ 30,000 was already paid out and see if it flies if I can't raise the money on time.
I paid out as much money as biggoal has in his whole savings portfolio for this debt and of course I don't want to see that all wiped out. In hindsight I don't know why I suggested $ 50,000. $ 30,000 would have been way more reasonable. I'm going to try and change it to
$ 40,000 if there is more financial problems and see if they'll cut $ 10,000 from the original $ 50,000.
Only if the creditors refuse such an amendment, or I'm unable to come up with $ 10,000 would there be a total default. I may or may not declare bankruptcy in such an event, but would definitely seek legal advice about the statute of limitations about each debt and when it would be erased from the bureau if the past payments on the proposal don't count for anything. Right now I'm just focused on raising the payment period by believing God that this will work out.