i owe 17,000 in credit card debts. i gave up on trying to pay them i dont even have an income right now. do i still need to file a bankrtupcy since I have no wages they can garnish and no real property or could ijust wait it out for the statute of limitations to expire then it would just come off my record? statute of limitations in my state is 6 years
2007-12-05 02:36:25 · 7 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
If you do nothing, they can levy a judgement against you. You can never get rid of a judgement until it's paid and it can haunt your credit record for the rest of your life. Go see a bankruptcy lawyer (consultations are usually free) and find out your options.
2007-12-05 02:56:34 · answer #1 · answered by C Anemone 5 · 0⤊ 0⤋
For a very similar situation a found a great solution at: QUOTEHELP.NET-
RE Bankrtupcy v. Doing Nothing?
i owe 17,000 in credit card debts. i gave up on trying to pay them i dont even have an income right now. do i still need to file a bankrtupcy since I have no wages they can garnish ...show more
2014-10-13 05:08:36 · answer #2 · answered by ? 1 · 0⤊ 0⤋
Maybe you can settle. I have a company that settles debts for 50% of what you owe, and reduces interest to 0%. This was you make lower payments and still be debt free within 3 years. I heard about the government approved programs to help the economy turn around and get our consumers out of the nearly 1 trillion of credit card debt. I'd e-mail here for more information...
debtfree.asap@yahoo.com
2007-12-06 16:41:03 · answer #3 · answered by Mr. J $ 1 · 0⤊ 0⤋
Statute of limitations means they have 6 years to sue you otherwise they cant force you to pay after that. But they can mess with your credit forever until you pay. If you file BK now, then it will be on your record for 10 years.
2007-12-05 11:06:29 · answer #4 · answered by Anonymous · 0⤊ 1⤋
How about the third option, calling the companies and explaining your situation?
2007-12-05 10:51:14 · answer #5 · answered by Anonymous · 0⤊ 0⤋
well here is the thing if you decide just to not do anything they can take you to court and demand that you pay it, if you do not pay as per what the court decides that you will pay you will be held accountable and you could spend time in jail.
2007-12-05 10:40:28 · answer #6 · answered by Anonymous · 0⤊ 1⤋
yes just sat back and do nothing -- go on welfare collect food stamps and have about 6 kids -- i just love to pay taxes to support bums like you!!!!
2007-12-09 07:50:51 · answer #7 · answered by mister ed 7 · 0⤊ 0⤋