debt2go Posted February 7, 2007 Report Share Posted February 7, 2007 Hi Group...thanks for your help!What happens when you just stop paying credit card bills? I know we will be bombarded with collection efforts, can we stop them from trying to collect?Lost our job, living on minimal social security. No extra money to pay $30,000. in cc debt. Used most of the money involved in the debts to remodel the home. Can't refinance to get the bills paid off because we have income which only covers the essentials.I know 8 years ago you could just stop paying, survive their collection efforts, and eventually the debt went away. Is this still true?I have called the creditirs to ask for reduced interest and payment amounts but they refuse to talk to me. I guess the bills are not yet delinquent enough. Should I write each a letter explaining our situation?Even if they got a judgement if we have little income what happens then?If the bills get in serious arrears will they negotiate with me for lesser amounts?accounts are:ChaseCitiSams Club DiscoverLowesRegions FIAHousehold BankOur house is 900 sq feet and we owe $20,000. on it. Our vehicles are 1999 paid for and 2002 still owe 4500. have not let that lapse.I need suggestions and ideas so thanks so very much. Yes, we are looking for a job. My husbands job unexpectedly ended in July, he is looking...lots of age discrimination. He is able and active and a great employee. At 62 can still wear his army uniform.Looking for an out...or an answer...a solution!!!debt2go Link to comment Share on other sites More sharing options...
momof5 Posted February 7, 2007 Report Share Posted February 7, 2007 You sound like a good candidate for BK. I would consult an attorney. CC's and their collection mafia are eager to sue these days. Don't take any chances..... AND lots of folks her can testify that you CAN recover from BK!!!! (me included!) Link to comment Share on other sites More sharing options...
someonesomewhere Posted February 8, 2007 Report Share Posted February 8, 2007 It generally does not cost anything to consult with a BK attorney and at least find out more options. Having spoken with a BK attorney, you can in all honesty say to your creditors, "We've spoken to a BK attorney and we're considering our options. Can you help us out before we get that far?" Link to comment Share on other sites More sharing options...
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