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File for bankruptcy? or risk getting sued by collections?

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Junior Member
What is the name of your state? Hawaii

I have a high credit card debt that I am no longer able to handle the payments on. If I send a letter to the credit card company telling them to close the account, how long will it take before it gets into the hands of a collections agency?

I have considered filing bankruptcy over this debt, but I think everything I own is excempt. The most valuable thing I own is my car and I may not have it much longer. So I am not sure if it would be better to file or not. Any opinions? Am I judgement proof?

Also, if a collections agency decides to sue me and wins and I still have nothing to give them, what happens next? How many years will they be after me?
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Senior Member
If they get a judgment they can be after you for up to 20 years. You need to establish how you got in this situation or bankruptcy isn't going to help you either as you will just end up in the same place again.

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