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70k in debt
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Posted by john on November 19, 2001 at 12:55:46:
I have a friend that got a credit card when he was 18. his father used it for his business. eventually it had a 5,000 dollar limit. He ended up running up a debt for 40,000 in one card and 20,000 in another. He was 18-19 when this happend and he is drowning in debt. now the creditors want to take him to court. what can be done. he makes minimum wage and doesn's own anything. should he file bancrupcy. are the credit cards allowed to allow him to go over the limit that much. any advice will be helpful. thank you
john
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