Question About Being Destitute
Date: Wed, 05/09/2007 - 22:53
I have been unemployed for 6 years. I owe on two old credit cards, which now are being collected by debt collection agencies. One account is for $14,000 and the other is for $6000. The SOL is not up for two more years. I have had no income for a long time and I own nothing.(I live with my brother)Can a debt collector see I have no means of paying by looking at my credit report? Should I tell the collectors that I have no means of paying so they do not sue me?
Maybe I should file bankruptcy but wait until they get a judgement if they sue.
Maybe I should file bankruptcy but wait until they get a judgement if they sue.
As much as I hate to recommend bankruptcy,it may well be a viabl
As much as I hate to recommend bankruptcy,it may well be a viable option.It would stay on a credit report 7-10 years depending on type. If they get a judgement,it can be considered a valid collectable instrument for up to 20 years depending on your individual state laws.Speak to a qualified bankruptcy attorney to fully explore your options.
