I live in Ohio.
I have no debt, and own my house outright without a mortgage.
I am wondering, though, if it is possible for me to run up a large credit card debt over the next couple years while keeping my bank account balance very low (under $2000).
The idea is that after a couple years I would then settle the debt for 35% to 50% and effectively have recieved many goods and services for pennies on the dollar.
Would this work, or would the credit card company look at my fully paid house and my good, high paying job and refuse to settle?