I had dinner in Miami with a BK lawyer family friend of a friend 2 weeks ago, said he was making a killing but would not finance anyone tho.
I believe I posted it earlier in this thread, but I do have several accounts long since charged off...I got a bit careless a few years ago, beyond that, this is where I stand now: Citibank acct. on a judgment - been through the court twice, it just gets continued as they see my assets are far less then my liabilities. Law firm for another Citi just sent me a settlement offer: $.30 on the dollar. ICO which handles AMEX had a $.25 on the dollar offer. Had another offer for ~$.40 I believe (can't remember for which acct.) Nothing on the rest. If you settle, make sure the charge off gets removed...or at least reported right to avoid any further damage. Don't just jump on the settlement because it's "cheap" because it'll do you no good. Heck in fact, call the original account holder...they would still settle even though it's been sold off! (make even more money off of it) $.50-$.60 was more of a norm I believe just a year or two ago...now you should be able to get for half or less!
If you're broke like a dog, and can't get your CC debt discharged for 5 cents on the dollar, you aren't trying!!! Bums!!!
lol...true on the 5 cents bit....but if you don't work or make very little and owe far more, then there's no sense in settling if you have multiple accounts. Either do them all relatively together, or don't do them at all. Either way now, knowing you can get it lower, it buys you plenty of time to get your a$$ in gear and get/make something more profitable (which is exactly what I'm doing). You know what? When I do settle, I'm going to shoot for <$.25 on the dollar overall. AND get them removed or reported right. I'll post how it turns out when I do.
Investing cash will create new jobs, spending will preserve existing jobs and saving cash will destroy jobs & economy. Bank interest rates in Japan 0.1% USA/Canada 0.25% UK 0.5% Israel 1.5% EU 1% India 5% China 5.31% Pakistan 12.5% Venezuela 19.3% http://worldinterestrates.info
Re-reading some of this now that it's popped back up. Who said right now that "education" requires going back to "school" or "college?" Most stuff is right there on the Internet, for little to NOTHING. Sure you may jump into someone's $1-2K course if you wish subject depending, but even that right there...1-2K. Versus how much for school? And the profit potential is much more enormous. The only caveat is it may take you a bit longer, or struggle a bit more as you're learning. But again, if you're on unemployment/working little, doesn't that mean you have a good chunk of free time available now? Why not utilize it and also look for that job "just in case" to have some money available? SBD, if you read this still, I hope and believe you'll get there...but you might just have to consider thinking outside the box a bit as well to get there. The rules have changed...screw the way the system is now (but keep an eye on it and educate others). Worry about #1 because only you can fix that.
.... well i remember a saying i heard somewhere... maybe a professor of mine.... anyway... it was "when a man owes a million to the bank he's screwed..... when a man owes a billion to the bank the bank is screwed".... so basically not paying off your credit cards and attempting to upset the universe wont work in theory unless your Donald Trump who essentially told Credit Suisse to F off ... ; )