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06-14-2005, 12:59 PM
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| |  lesser of two evils
state of california. $20,000 in unsecured debt. consolidation will not help. which is better for me to do. file for bankruptcy or get help from a debt eliminator? basically charging off the debt until settlement is reached. What is the name of your state?california 
Last edited by sharon35; 06-14-2005 at 01:07 PM.
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06-14-2005, 01:18 PM
| | Senior Member | | Join Date: Jun 2004 Location: Connecticut
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Originally Posted by sharon35 state of california. $20,000 in unsecured debt. consolidation will not help. which is better for me to do. file for bankruptcy or get help from a debt eliminator? basically charging off the debt until settlement is reached. What is the name of your state?california | Do NOT get help from a Debt Eliminator. Those places are shady and I have yet to hear any success stories from someone who used them. They usually leave you in worse shape than you are in now.
What type of debt is this and what was the date of last activity on it?
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06-14-2005, 03:23 PM
| | Junior Member | | Join Date: Jun 2005
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| | | reply from lesser of two evils
Last date of activity was 06-10-05. not past due yet, but will be when next bill is due. this is credit card debt, mainly fro citibank |
06-14-2005, 03:32 PM
| | Senior Member | | Join Date: Jun 2004 Location: Connecticut
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Originally Posted by sharon35 Last date of activity was 06-10-05. not past due yet, but will be when next bill is due. this is credit card debt, mainly fro citibank | Is there some reason you've decided to stop paying on it? I mean, I agree that $20,000 is a lot of money, but you did use it didn't you? I'm not usually one to yell at debtors for not paying their bill, but it seems like if you just paid them a couple of days ago, you currently have the means.
What's the whole story here?
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I've no time for broads who want to rule the world alone. Without men, who'd do up the zipper on the back of your dress? - Bette Davis
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06-14-2005, 03:53 PM
| | Junior Member | | Join Date: Jun 2005
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| | | response from lesser
you asked when the last 'activity' was. I paid for needed grocerys on the 10th of june. I can pay 'some of the minimum due, but not all of the minimum due. and yes, i used the cards out of necessity, but due to financial problems, I'm not longer able to afford them. |
06-14-2005, 04:01 PM
| | Senior Member | | Join Date: Jun 2004 Location: Connecticut
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Originally Posted by sharon35 you asked when the last 'activity' was. I paid for needed grocerys on the 10th of june. I can pay 'some of the minimum due, but not all of the minimum due. and yes, i used the cards out of necessity, but due to financial problems, I'm not longer able to afford them. | I misunderstood because you followed your date of last activity with the remark that it was not past due yet. Therefore I concluded that the last activity was a payment.
I don't see any recourse that you would have. Filing bankruptcy is a big decision though. It will stay with you for 10 years and will affect your spouse or maybe even your future spouse because California is a marital property state. While he won't be held accountable for any debt, he could be denied credit because of it.
If you decide to file bankruptcy you would want to do it soon before the new laws go into effect. Some time in October I believe.
Good luck.
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I've no time for broads who want to rule the world alone. Without men, who'd do up the zipper on the back of your dress? - Bette Davis
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