I’m in Debt Due to My Own Foolishness and Stupidity. – Mari

“Hi Steve,

I am $18k in credit card debt due to my own foolishness and stupidity. My intentions were good, and I was good at paying my debt, but since I accumulated so much, I eventually wasn’t able to pay them all on time.

There are a couple unsecured credit card debts ($4k from Chase and $6k from WaMu) that I am having a difficult time paying. They both went into collections just a month ago. I was paying on the $4k for what little I could afford to the original creditor (which was $100 a month), but it wasn’t enough and it was sent to collections.

I even paid what little I could to these companies, but they still sent me to collections.

Since Chase owns WaMu now, I now owe Chase the entire amount.

I have other debts, but I have been paying them.

As for these two debts, I am so worried about being sued and going to Court. There is no way that I can pay a lump sum. My phone is ringing all hours of the day and I suspect it is not from the original creditor, but from collection agents. The agent calls and leaves messages indicating that I should call them back about a business matter, but not saying what it is about.

I can pay the debt, if I am able to pay in small monthly amounts, but I know that at this point, it won’t be accepted.

Can you please advise me on what I should do? Your response would be truly appreciated.



Dear Mari,

If you can only afford $100 a month that’s not going to be enough to enter a credit counseling program to get a payment plan going. The debt management program would require about $350 a month.

Outside of a debt management plan your only other choice to totally eliminate these debts is going to be with bankruptcy. Otherwise, unless you take some action there is nothing to prevent you from being sued for these debts.

See also  Chase Bank Dropping Debt Collection Lawsuits

You should click here to find a local bankruptcy attorney and make an appointment to go in and talk to them about what bankruptcy would mean for you. It’s the only way to close the door on this for good and stop all collection activity.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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1 thought on “I’m in Debt Due to My Own Foolishness and Stupidity. – Mari”

  1. Steve,

    Thank you for promptly answering my question. The smaller debt amount I owe, which is $4k to Chase Bank was sold to a company called Integrity Financial Partners (phone #866-947-6952). I paid on this account to Chase, the amount of $100 as recently as last month (Dec. 2009) until Chase charged off this account and sent it to collections.

    An agent from Integrity Financial Partners called but I didn’t answer the phone. He says that there are numerous options. I still have not received correspondence from them. Should I wait for the written correspondence and ignore their collection calls, or should I call Integrity Financial Partners?

    Please advise ASAP. Does it make a difference if it is towards the end of the month or not?



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