I have/had good credit, went 'little' overboard and now in US $300K in credit card debt, all of it invested in stock market which is now worth less than 10K. Even though I'm a professional and have a job,
To pay it all, it will take me 7 years if I were to just eat free air/water, sleep on the street, or at least 20 years by continuing my current life style.
Do I have any other options to get out of this mess?
File bankruptcy and then move to Canada, Europe or even run away to Montana leaving no change of address trail.
Any ideas???
Please help/advice
2007-06-05 19:48:35 · 3 answers · asked by Vamshi V 2 in Business & Finance ➔ Credit
What if I run away to a country with credit cards?
can I ?
2007-06-07 20:12:42 · update #1
What if I run away to a country with "NO" credit cards until they forget?
can I ?
2007-06-07 20:14:51 · update #2
Contact a debt counseling organization. They can help you formulate a plan and may even be able to negotiate lower rates with the credit card companies.
Regarding Aruna L's post below: No reputable businessperson has a hotmail email address. Avoid.
2007-06-05 19:51:45 · answer #1 · answered by manatee 3 · 0⤊ 0⤋
Yes, contact a debt counseling organization by all means. They are well equipped to deal with this type of thing.
2007-06-05 21:00:46 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You made your bed, now sleep in it.
Good luck.
2007-06-05 19:52:31 · answer #3 · answered by TedEx 7 · 0⤊ 1⤋