I had 3 credit cards. I lost my job and place for a little while (about 4 months). I slowly got back on my feet but still barely make enough to stay afloat.
I haven’t had a chance to settle any debt because I don’t have extra income. I also have no idea what companies own my debt. I get a lot of emails and mail from many of the companies claiming to own my debt but they look like fake companies when I research them.
I also have someone trying to serve me papers. I am trying to find out who is trying to serve me without actually getting served at moment. I do not want to get sued. But would like the settle or get out of the debt if possible.
You have a number of issues going on here. But we can divide them up into two buckets; the past and the future.
You did not mention how much you owe but historically bankruptcy is the fastest way out of problem debt, for the least cost, and it will allow you to rebuild a better financial future.
Given the fact you sound as if you need to get back on your feet it makes more sense to close the door quickly on the past and focus on building your emergency savings and keeping your current bills on time.
You mentioned a few key issues. You said you don’t have extra income so even if you wanted to settle that means you’ll probably have to use current income to try to settle past debt. Typically that means you don’t have additional dollars to save to build an emergency fund. That’s not good.
You also said you think someone is trying to sue you over past debt. A consumer bankruptcy also ends the lawsuit so there is another advantage to it as well.
If you feel you are back on your feet now earning money the most important question you have to answer is if you want to invest your money and time trying to repair the past or build a better future. Only you can answer that question.
It’s time to stop hiding from people who are trying to sue you and from your past financial mistakes and take charge of your better future.