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I wont get into my big sob story, I'll just say that my husband and I are in a crushing credit card debt MESS and there is no apparent way out... It's not debt for "fun" things either, it's been stacking up because for the last few years we haven't been able to make it paycheck to paycheck without credit cards. We've had to use our credit card for essentials like groceries, emergencies, medical bills, etc. This mess we've been in just continues to get worse despite all our best efforts to find a way to turn things around. :( We do not want to have to file for bankruptcy but are so afraid that that's what we'll have to end up doing and then my husband's wages will be garnished and we certainly cannot afford that. :( Do you know of any LEGIT ways to help with credit card debt? Any help would be MUCH appreciated. Thanks so much! :)
FindingMyVoice FindingMyVoice 31-35, F 11 Answers Jun 21, 2012

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I have been bankrupt while still married to my ex wife. I would not do this unless they are attacking your wages, bank account, property etc... I wish I had never filed it. It is much faster to just default on your cards, let them harass you, let the debts time out. You will get your credit back faster this way. Most non secured debts only threaten but actually do nothing. The longer the default the more cooperative they become and you can settle for much less than the debt with an understanding that they will accept a compromise on the account and report that you paid in full.<br />
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I have personally done this and the credit score returns much faster that way.<br />
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Don't waste your time feeling bad for the creditors, they get tax breaks for bad debts, they charge high interest to risks. In short they get paid back either way many times.

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Thank you so much for your advise! :) I do really appreciate it and may check into the defaulting option.

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Another side note. Many creditors threaten wage garnishment. This can only be done after a judgement has been won by them. Unless you have been supoened, been to court, and lost, it's not gonna happen.

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OK. You MUST start with a plan. The major part of which is a budget you can stick to without credit cards. That probably means reordering your lifestyle (You did say you wanted a real help, which means YOU have to get real about it)<br />
Next, two options. Consododate you debt with a loan at a much lower interest rate if you can get it. But dont forget to add the repayments on that into your budget.<br />
Or, if such a loan isnt an option, contact all the people you owe and tell them what has happened, including what you are now doing about it. I suggest you pay down the highest interest debts first if possible. <br />
Now most people who chase money are actually human (more or less) and IF you tell them you are in trouble but be on the front foot and contact them, they will usually cut you some slack. After all bankruptcy gains them nothing. This way they may get their cash in time.<br />
A couple of points. Be straight with them and yourselves. Do try to kid anyone this isnt a problem. And second, if you make them a promise, keep it. Or you go back into the potential deadbeat file, to be hassled.<br />
More detailed advice isnt possible without info I dont have, but that should put you on the right path.

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Thanks for your reply! :)
Yes we do need a plan, the ones we've tried in the past have all fallen through and left us totally hopeless... :(
We have cut down everything we possibly can to save money, we never get to do anything "fun" and haven't for a while now.
Everything goes to bills, EVERYTHING. :( Groceries just keep getting more expensive even though we do all we can to save there, coupons and just the basics.
And yes I'm very REAL about this problem, I am desperate. :(
We only have one credit card but it's a HUGE one. :( We tried getting them to reduce our interest, tried checking into consolidation places but they wouldn't help us because we don't have any assets, no home, no land, old cars, no ANYTHING of value.
Our bank wouldn't help us because of this reason as well.
We have contacted the credit card company and they couldn't have cared less about our situation and were unwilling to do anything to help.
I thank you very much for your reply, feel free to PM me if you have anything else or have any questions that could help you better help me... :)

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If you bankrupt under Chapter 7 you get a fresh start - no wage garnishing. PM if you want more info. Chapter 13 your are stuck paying back.<br />
If you absolutely won't take that route, try offering pennies on the dollar. B of A 1st said "HA! you pay - you pay NOW!" when I offered 50%. Then I filed bankruptcy and they offered to settle for 15 cents on the dollar!!!<br />
Whatever you do don't get suckered by some agency who probably won't help at all but will charge you anything they can steal.

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Thank you so much for your info! I really appreciate it very much! :) I definitely don't want to end up in an even worse bind than we are in (if that's possible) by getting suckered... So your creditors took your offer after you filed for bankruptcy?

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I have a close friend that had the same results with Bof A. He owed ~$20K and defaulted (due to medical issues.... he stopped paying them). They hassled him for about 6 months and then sent it to collections. They finally agreed to $0.20 on the dollar and he gave them $4K from a tax return. His credit is ruined...but he washed the debt. By washing that debt he now has more to work with to avoid the PayDay to PayDay life......

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I can refer you to someone that can help-- solid and reputable . I will bring a phone number back to this question as soon as possible.

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Oh wonderful, THANK YOU SO MUCH!!!! :)

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I cannot post the information in this format. You may send me your name and email address at donnabayse@yahoo.com and I will send you the contact information.

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Please be assured I have no intention of using your name and email for anything more than sending you the information. I am watching yahoo for your response so it does not go to spam.

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Hi, we are in the same exact position. So far this is what is helping. We started our own garden. What we can't grow we buy from farmers market with our money from recycling. Credit card ppl won't reduce interest or help in any way. I transferred as much as possible to an introductory card of no interest, pay the minimum on that and pay as much as possible on high interest card. Call your debtor every month and explain your situation.Make a plan and stick to it. you WILL get through it, slow but sure. DO NOT let the stress effect your self or relationship. Better times will come and you will feel good again. Keep in touch.

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Discipline works every time. You don't know what no means.

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Wow... I love how people just assume so very much.
You don't know what compassion means.
You have no idea what all I've gone through so please do not judge me based on lack of info.

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You need to revert back to "Math 101"<br />
Don't buy anything you don't really need...<br />
No shoes, no clothes and cut back on everything.<br />
Cut back at the grocery and price-shop everything....even food.

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Wow, that's pretty darn insensitive. You have no idea of my situation, no idea of the reasons why we are in the mess we are in. Trust me as I stated we are not in debt because of non-essentials. The debt is for ESSENTIALS. I've always been a responsible spender, I'm a saver not a spender by nature. We never wanted a credit card but 6 years ago something huge came up and disrupted our lives and that something has forced us to have to get a credit card to live. I wont get into all my personal problems on here but maybe you should check into "Compassion 101?"

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Oh yes I do know exactly what your going thru....I've been layed off over a year now. And, I don't need to get touchy-feely to know. I've also experienced illness in my family....So, do I have all my bases covered lady?

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No, you really have no clue but thank you. No one can know what another person has been through unless you are in their shoes. You have no idea what all in my life has fallen apart all around me, all that I've lost, my health problems, nothing... it really seems that for whatever reason you really have no compassion in your heart for others... I can at least be thankful that I do still have that though I have not much else...

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Why are you putting all your personal problems out there for everybody to read? Who does that???

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