Bankruptcy is useless unless the debt collectors threaten your life, maybe. Just stop paying your credit cards altogether and wait for 7 years for their obsolesce time since your delinquent date. Can they sue you? Maybe, so just lie low until their SOL expired.
It’s just 7 years in ‘hell’, at worst. Then you’re free again.
Really! If you really have nothing, the best thing is to do nothing too. They might sue, but what to collect anyway?
Yes, the credit card companies can and will sue you.They may wait till the 7th year when you owe them a lot more money..Not all the companies do but they can. And if a person can’t pay after being sued, what happens then? This sounds reasonable to me. Maybe, just maybe, some windfall of funds come through and then the bills can be paid off. If you file bankruptcy, that stays on your record regardless.
This is exactly what I have tried to do for the last 6 years. Just this past week I was served with papers from the Sheriff’s Office, stating I was being sued by MBNA. Any suggestions on what I should do? I don’t have any assets for them to take, I’m still paying on my car and don’t own a home. Thanks for any and all suggestions!
I was in your situation just a few years ago. I didn’t want to file bankruptcy but, after careful consideration I decided to take the advice of a lawyer & file. I figured what’s to keep all my other creditors from suing me. You can’t get blood from a stone, but they sure do try.
One of those bastards once convinced me to ask my landlord if it’s ok to be late with my rent. Can you believe that? Of course, that was when I didn’t think I had any rights. After that I started telling them where they could go! I decided it was me or them & it wasn’t going to be me.
Only you can decide what is the right path to follow. Good luck in whatever you decide.