if you have credit card debt and cannot pay sue to job loss or some other reason,just don't pay. simple.. how can someone pay back money they don't have? i am not talking about those that went on irresponssible spending sprees but those that accumulated debt over time with every intention of paying it back. a credit card company sells your debt to a collection agengy who will call your home 20 times for day. you can actually send a letter demanding that they stop calling you.i forget want its called but there is a term and its a legal right. technically they have to. they can go to court and get a judgement but that is a bit less likely nowadays with so many people in the same position. after 7 years it will be wiped off your credit. just because a creditor keeps selling your debt does NOT mean the clock is reset. its starts from the original delinquency date.
If that person had to have so much debt to live, and now they can not pay, for 7 more years they will have bad credit and no one trusts them to give credit to. So now they have to pay cash for everything for 7 years. Can they pay cash for 7 years to live if they could not do that before? They have to change how they live, or have more income to go 7 years with no credit. FICO score is important right?
I have a year and a half to go on the statute of limitations. The process server missed me by only minutes at the old homestead recently, we rented it out to friends, they aren't providing any forwarding address info. The process server could be a fake thing to scare me into coughing up some money and thereby extending the statue of lims another four years. If he's for real, and if they take me to court, I can represent myself and they can get a lien on the rental and Obama will see to it that inflation eats that away. So far everything the collectors have done is illegal; harassing phone calls until I informed them it was illegal, the process server is likely a phony, they are just horseshit, one tried to tack a relative on the bill, she just had been added to the card as a spender and never signed anything at all. If you pay them they wait until your credit is good again and they come back and try to collect the same debts again and threaten your credit. I can't find any reason to do anything but game them and see where it all ends up.
You could just declare bankruptcy and be through with it, if you qualify. Your credit is likely already trashed.
It's a mess now. If you default on cc your auto insurance probably will go up, if you rent they check your credit, jobs apps run credit checks. Not like the old days, when you could get a new start and not have to announce it to the world or have everyone checking on you.
"just pay your bills".. gee,thats logical.of course i would want to pay but i simply can't. back to the creditor,screw em! as another poster said,the credit is already trashed and its on for 7 years so why not just wait it out? what could they possibly do? its for 6k and 3k. 2 different cards.