I became disabled and had to go on retirement/disability, I was able to make up to 80% of what I was making. I took some part time jobs and my wife was working as a nurse. In 2007 I had an Abdominal Aortic Aneurism plus the disease in my back (Arachnoiditis) became worse and I could not work at all anymore. My wife was still working and taking on extra nursing jobs to make up for the loss of my part time jobs. In 2008 my wife was injured while on the job and also had to go on disability (SSA). We were keeping up with our bills and then all of sudden when they started raising credit card interest rates, we could not keep up with the payments. Then we made even a bigger mistake by taking out payday loans to make ends meet. Now we are stuck and can not pay any credit cards or loans.
What can they do to us if we can not make payments? Both of us are on federal subsidised disability and I read that they can not garnish our wages, is this true? The collection agencies have been calling and one (Capital One) has even taken us before a magistrate but they never showed up and we won the case, but the magistrate stated they can file another complaint at anytime. We do not know what to do, we tried Credit Card Counseling, and other debt consolidation companies and when they reviewed our income and monthly bills they told us there is no way we can make ends meet without any additional payments. What can we do? Most of the credit card agencies or banks recieved money from the government through bailouts that was suppose to help people, yet a lot or most of them did not use the money for that reason. Capital One received $3.56 billion and used that money for other issues.
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