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I know someone who went a few months without paying his credit cards. Banks started calling religiously, as expected. The first call was always the worst, than the ones following were like "let's make a deal." And what sweet deals they were. Made me think twice about paying my own cards (my interest rate was increased on two even though I never missed a payment!!!) in lieu. If you could care a rat's ass about your credit, it's an option. Just don't be afraid of these guys --- they bend over backwards to negotiate and will settle for fractions of what you owe --- rather than have you file bankruptcy and have themselves end up with zilch.

Get used to living without credit. Take all credit cards out of your wallet. Keep only debit card if you must. After a couple of years it is really not so hard. Depending on your situation, there are many options rather than paying for a bankruptcy.

Why would you want to lose control over your finances and put a court in control? Do some research, but be careful. There are a lot of scamers out there. I found that after careful research I could do everything myself. You will save more money this way. Talk directly to the banks.

Credit resolution companies are mostly interested in a quick deal, not always the best one. When there is a deal they make money. Keep this in mind. There are non-profit credit counselors, but most seem to be supported by the banks. Ask where they get there funding. While they are somewhat helpful, I found I got much better deals by doing it myself.

Don't let collectors scare you. They usually lie. Most importantly, get every promise from the bank in writing. Once they have your money they tend to "lose records" about what they promised.

If you do lose your job and need to relocate, move to a consumer credit friendly state. Maybe one that does not allow wage garnishment and home repos.

I have found it very easy to buy houses over the years by finding owner finance agreements. There is not much difference in the loan rates and they don't care as much about my credit since they are doing it for cash flow or because they need to move.

Really your situation is not so bad. Once you have adjusted to no credit, you will see an increase in money in your pocket. However, since you are dealing in "your" money, you spend it more wisely.

By the way, I would never use my credit card for medical. Most hospitals and doctors will work with you. Have them bill you and then make payments. It is usally interest free. Also you can negotiate the price later. They usually have a much higher rate for cash customers than insurance customers. See if you can get a prefered rate. I rarely have been denied this.

Good luck

Just be aware that if you settle, your credit rating will drop very significantly .... so just be aware of that when making and settlement decision with credit cards.

the way you describe. I just click on an active thread and get a blank white screen staring me in the face! The "Forum postings guideline" thread comes up blank!

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