Re: over my head

Posted by Been There (64.12.96.205) on July 23, 2003 at 21:24:41:

In Reply to: over my head posted by over my head on July 23, 2003 at 18:14:29:

I should add I was lucky enough to not get sued when I just stopped paying. I also moved out of state and started again. I did not own a home. A lot of these companies are harrass and sue happy. I would never recommend just letting things go to anyone. To have thousands of dollars of chargeoffs on your report is much worse than a bankruptcy in my opinion (and I have done both, by the way). It was much easier to get going after a bankruptcy than by just letting everything get charged off. I have always tried to work with the creditors, which I found an impossible and frustrating task. Most of them barely budge and just want their money, regardless if you threaten bankruptcy or not. None of them will lower your interest when you are behind in your payments. I'm not pushing bankruptcy, just trying to sway the chargeoff decision. You do risk getting sued and garnished. Good luck whatever your decision.

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