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Looking for opinions on my options in FL


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I'm looking for some information, or perhaps just some informed opinions as to what my best option might be.


I'm in my late 20s....and after getting a hold of a few credit cards at the beginning of my 20's, I've messed myself up financially *I plainly realize this*.  I could handle the accounts through college, with the idea that once that career job started afterwards I could easily pay them all off.  That career hasn't paid nearly as much (freelance work mostly), and along with student loans (about 10k), those credit card accounts have collapsed.  My student loans are in IBR.  I have little income, live with family right now, and definitely have less than ~5000 in assets (20 year old car, typical personal items).  No house, no land, etc.


All in all, I have around 12-15k in credit card debt.  They have been sold to collectors, and one of those has recently sued me over it.  The other couple just send settlement offers at this time.  Obviously, this has dug quite a hole for me financially and personally.  I need to focus my efforts on getting a salaried job, but this debt hovering over me makes it difficult.


What would be my best course of action?  I've considered Bankruptcy.  It's scary, not something I would ever have considered, and it makes me extremely nervous to think about.  Family would probably have a heart attack.  But, I understand Ch. 7 would get the CC debt collectors out, and then I could focus on a real job, just paying off my student loans and rebuilding.  My credit is already in bad shape after 3 charge offs, so I imagine it can't be much worse.


I've also thought about wrangling with the lawsuit collector, finding that job, and finding a way to make a deal with the collectors and slowly pay them off.  I see that as something I might be able to do in 2-3 years, and wouldn't give me a Bankruptcy hit.  But, the stress and uncertainty of that plan working may be a lot to handle.  Even if it did, I would have a lot of debt in collections plus student loans to somehow overcome. 


Any thoughts?  It's tough to write this out here, as I'm very private and really haven't disclosed this financial cloud I'm under to anyone else.  



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The other options you did not list is to fight them and beat them.  You have a couple tools to do this with.  First, Florida has it's own state version of the FDCPA which can be useful considering how often the JDB collectors violate these laws.


Second, depending on what credit cards you had, you may have arbitration to use against them as well.  Arbitration is like kryptonite to a JDB.


What are the OC's who sold off to JDBs?

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I don't want to be too specific, but one was a bank, one an online bank/payment entity, and a couple of store cards.  


Working through each individual collector could be a good option, but I'm worried about the difficulty of going through that and trying to hold them all off until the SOL runs out.  I wondered about Ch. 7 because maybe that would just get it all over with and finally get all this financial weight off of me at one time.

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I'd not play the bk card prematurely.

Get a job and make sure you have health insurance prior to filing. Have a basic safety net in place. You don't want to fie and 6 months later get ill or have an accident and end up with large medical bills and already played the bk card.

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