suziedebtridden
Junior Member
What is the name of your state? Indiana
I have about 90k in credit card debt. I assumed much of this debt because I tried to start my own company - however the debt is in my own name. I am a contract computer programmer who has had a hard time staying employed. In the last year - the job market has gotten very bad. I have had to take short-term contracts in different cities and live in hotels to stay employed, which caused me to become severely depressed. For over a year I did not have an apartment of my own. I sent my mail to my Mother's and lived in hotels. My second to last contract was in my mother's hometown, and I got a $500/mo apt. However, this job only lasted 3 months, and I was back to living in hotels. With all of the travel expenses, and the rent, I was not able to make ends meet. So, I quit, came home, and I have been working low wage temp jobs in town. I have barely had enough for rent and food, so I closed all of my credit card accounts, and I have not made payments in two months. They call constantly.
I have read if you only have credit card debt - it is sometimes better not to declare bankruptcy. However, I have a 1996 seabring convertible, a lot of CDs, two nice recliners which are about 4 years old. My question is, will the sheriff come and take my car and all of my stuff if I default on my credit cards. I owe:
American Express - over 40k
Citibank - over 17k
MBNA - over 13k
Sears Mastercard - over 10k
Bank of America - over 8k?
I have about 90k in credit card debt. I assumed much of this debt because I tried to start my own company - however the debt is in my own name. I am a contract computer programmer who has had a hard time staying employed. In the last year - the job market has gotten very bad. I have had to take short-term contracts in different cities and live in hotels to stay employed, which caused me to become severely depressed. For over a year I did not have an apartment of my own. I sent my mail to my Mother's and lived in hotels. My second to last contract was in my mother's hometown, and I got a $500/mo apt. However, this job only lasted 3 months, and I was back to living in hotels. With all of the travel expenses, and the rent, I was not able to make ends meet. So, I quit, came home, and I have been working low wage temp jobs in town. I have barely had enough for rent and food, so I closed all of my credit card accounts, and I have not made payments in two months. They call constantly.
I have read if you only have credit card debt - it is sometimes better not to declare bankruptcy. However, I have a 1996 seabring convertible, a lot of CDs, two nice recliners which are about 4 years old. My question is, will the sheriff come and take my car and all of my stuff if I default on my credit cards. I owe:
American Express - over 40k
Citibank - over 17k
MBNA - over 13k
Sears Mastercard - over 10k
Bank of America - over 8k?