I recently retired from the military. It took six months to find a job and unfortunately I relied on my credit cards. I found a job and currently make $99K (combo military retirement and civilain job); however, so indebt I stopped paying on three credit cards. Bank of America has been willing too work with me and offered a settlement of 20 cents to the dollar. Chase, on the other hand, has been totally nasty and now stating they will sue. Every cent I make goes to bills. I told Chase I could pay them $150 per month; however. It's not good enough. I live in California - what can I do?

I recently retired from the military. It took six months to find a job and unfortunately I relied on my credit cards. I found a job and currently make $99K (combo military retirement and civilain job); however, so indebt I stopped paying on three credit cards. Bank of America has been willing too work with me and offered a settlement of 20 cents to the dollar. Chase, on the other hand, has been totally nasty and now stating they will sue. Every cent I make goes to bills. I told Chase I could pay them $150 per month; however. it's not good enough. I live in California - what can I do?
Look in the phone book for free credit counsiling. They will contact all creditors and stop interest from accruing on the cards as well as work out payment plans with them. You generally write them one check and they disperse it to the creditors. It can make your finances your own again and give you some of your own money to spend again. If there is a fee charged. Look to the next agency. There are free ones.