Can't pay my credit cards

[rturk]

700 a month? have you thought about working full time?

 

[Giants83]

Don't think this guy is coming back. He was called out on a few discrepancies in his post history.

 

[OrionLabs]

Don't think this guy is coming back. He was called out on a few discrepancies in his post history.

Right on spot

 

[custom]

He comes back or not in the last couple of years the chapter 7 laws have changed. You don't just get to walk away from what you owe anymore, you get what is called relief based on a percentage that you owe. It's actually a good idea at a young age to do this because there are companies that will remove each bad report on your credit score and in 3 years you'll be sitting pretty. I myself had to do this about 15 years ago after a divorce and it worked out pretty good for me. But that was then and as I said the chapter 7 laws have changed. Creditors never show up to the hearings anyway so its really just a matter of filling paper work.

 

[tttlock]

To be completely honest with you I would just let them default. Yes it's gonna hurt your credit score but I'm sure it's already pretty bad. Don't give them anything and just tell them you are gonna default. I defaulted on some cards a few years ago 5 years later all is not perfect but I can get a car and a home loan no issue.

Great post. This is the recourse I've had to follow as I lost my job 5 years ago and found myself having to charge things to get by. Needless to say, I am no financial advisor, but once your debt has gone to collections you're pretty much SOL for 5-7 years. You can find a way to pay them off and feel better inside, but it is probably not going to help your overall credit score with any of the three institutions.