Debra wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
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“Dear Steve,
My job cut my income by 50 per cent , same hours less pay. NOv 15. 2008.
My son had cancer with no ins, I had to pay for test and treatment on credit cards,also for gas.and other very important things.
My daughter had to go to drug rehab last year, July 2008.
All in all I put $35,000 on credit cards I had good credit score before all of these problems happen.
I tried to do a dedt consolidation, my my credit score was 710. I was turned down because of the cut in salary.
I see no way out , so I stopped paying the credit card s, I got so sick of worring to keep up . I could NOT.
I now can only pay my mortage and I electricity.
I get a lot of collection calls, just from credit card companies. it been 130 day since I stopped paying on credit cards.
I will never want to buy anything again.
I dont care about my credit score anymore.
MY question is when will this hell and calls go away? How can I get them to stop calling?
NO money for an attorny either? Just NO money.
Sincerely,
Debra”
The Answer:
Dear Debra,
While you are spending money caring for everyone else, who cares for you?
Sticking your head in the sand and ignoring the credit card companies isn’t doing nothing. It is a decision to ignore the situation and let the credit card companies do whatever they want to you. I need for you to get motivated to take some action to treat your financial cancer and treat it.
You need to go bankrupt. At this point bankruptcy will actually increase your credit score and end the collection calls. You can search for a bankruptcy attorney that might be able to provide you with free services but you will still have to pay court filing fees. See the resource directory at the American Bankruptcy Institute.
I don’t think it is unreasonable at all to ask your son and daughter to help you pay for your bankruptcy fees. After all, you wouldn’t be in this situation if you hadn’t gone to their rescue in their time of need. Now that you are in trouble, it is time for them to repay the favor.
