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Too much CC dept

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Adirondacks40

Junior Member
What is the name of your state?North Carolina
I have run up 3 credit card dept's due to a drug addiction. Iv'e been clean for three years now and cannot pay back the dept,witch is in the thousands of dollars. The CC's were in my name only is my wife liable for my dept and cant i list exemptions with the county court to protect what little i have. I have no extra car's,truck,land or home im a simple man who lives from check to check. I have been getting phone calls and letters but i avoid contact with any of them. I know my credit is ruined but I managed to save my marrige. Thanks for the input im financilly scared for life but I got my health and my wife.
 


Debt Guy

Senior Member
Q. The CC's were in my name only is my wife liable for my dept

A. Your wife is not liable for the debt if she did not sign the credit agreement.

Q. and cant i list exemptions with the county court to protect what little i have. I have no extra car's,truck,land or home im a simple man who lives from check to check.

A. NC has a list of exemptions -- here is a link to the list -- http://www.totalbankruptcy.com/state_exemptions_north_carolina_summary.htm -- ignore the fact it talks about bankruptcy -- general creditor are the same in almost every state.

Also, NC does not allow a wage garnishment.

Seems to be your biggest risk is a judgment that allows the creditor to wipe out your bank account. Of course a judgment will hang around for a very long time and will cause you problems with future credit.

You did not say how much you owed. But, you might want to think about bankruptcy. The law is changing very soon so you would want to make the decison in the next couple of weeks. A bankruptcy will not make your credit any worse than it is now (in my opinion).

On a personal note -- congratulations on staying sober. I've never experienced your problem but I have family who did. They did not make it. Sounds like you are getting your life and priorities straight. Focus on your wife and forget the past. Give the bankruptcy serious thought. Good luck to you.
 

Ladynred

Senior Member
Important question - when was the last time you paid the ORIGINAL CREDITORS on any of these debts ??? If it was more than 3 years ago, you may not have to file bankruptcy. The Statute of Limitations in NC for all debts is 3 years. If you last paid more than 3 years ago, then all these debts are time-barred and you can send collectors packing with a cease and desist letter. IF you are sued, you have the expiration of the SOL as your defense to get the lawsuit thrown out.
 

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