I got a green card 8 years ago after marry my american husband and loads of offers of credit cards droped in my mail box.I ‘ve got a lot of credit even without ask for. Back in my country I’d always been a great bank costumer with 5 stars check accounts.
I used my credit cards and got to a point that they raise my APR as they please because i had to much debt. Inumerous times, I’d call them and ask to lower my APRs so, i could pay with no problem, One of the credit cards,I’d to stop to pay and close the account after many attenpts to bring it down. As I sad before, I always paid my bills and never had my name associated to fraude or bad payer.Now I have a balance of aproximatly $35.000,00 putting all my CC together. The one I’ve sttoped to pay is treating me to “sue me and incur court costs and legal fees”.This one has a balance of $9364,18.
I’ve no job and no assets at all.The others credit cards I continued paying with the help of my husband.
Will they realy take acction and sue me??
Should I take bankrupt action before they sue me??
Are you saying that you only have the one card left of $9800? If so, I don’t think bankruptcy is your best option.
Are you not able to make payments on this card with the help of your husband? Do you have the ability to settle the card with a lumps sum payment?
With a settlement, you may have tax consequences, but the full payout would be far less than making minimum payments on the card until paid off.
I just don’t think paying up to $2000 for a bankruptcy attorney makes financial sense on a debt of $9800.
If I am wrong, and you still have other credit card debt, then bankruptcy might be a good option.
But remember that your ability to qualify for chapter 7 is based on household income. So depending on how much your husband makes, and the size of your household, you may or may not qualify for chapter 7.
Since most bankruptcy consultations are free, I would suggest you seek an attorney in your area to see if it might be beneficial to file.
My name is Lewis Roberts and I’m an attorney licensed in Florida and Georgia. My practice focus is consumer bankruptcy, real estate issues/closings, and mortgages. I also have Florida real estate broker and mortgage broker licenses. I am a proud member of the National Association of Consumer Bankruptcy Attorneys (NACBA), National Association of Consumer Attorneys (NACA), and a graduate of Max Gardner’s Bankruptcy Boot Camp. I enjoy helping people with decisions that impact their financial well-being.
Legal Disclaimer: This is for educational purposes only. It is not to be relied upon as legal advice. It also does not create an attorney-client relationship. No such relationship is formed with attorney without a written agreement.
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