Re: Stopped paying on three credit cards

Posted by Saint22 (24.197.86.54) on October 06, 2002 at 05:45:51:

In Reply to: Re: Stopped paying on three credit cards posted by kelly from nevada on October 04, 2002 at 12:55:43:

Well, the only reason I am thinking of not settling is that I do not currently have a job. I sell things on ebay to pay my mortage and car payment, but I only made less than $20,000 last year. I owe $7,000 to Discover, $13,000 to Chase, and $12,000 to First USA (who have yet to even call or mail me about the 7 months of non-payment). If they sue me, I have made about 1 year of mortage payments, so I have little to no equity in my house, and little else to take save furniture, and a car. If they sue me I would just go ahead and file bankruptcty at that time. I have made it clear to all of the companies that when and if they sue me, I will be filing bankruptcy. What are my chances of getting sued. Is it 100%?? I can probably borrow the money from my parents to pay some type of settlement (around 35% of the total). If I am not in serious danger of being sued (it is all unsecured debt after all), I would rather just wait it out. Anyone have experience with these levels of debt and this course of action? Any advice would be very appreciated.

Follow Ups:

Post a Followup