I am in over my head with credit card/loan debt due to losing my job 1 year ago. I've done well in paying my payments but now I am going to stop making payments because its either pay them or my house, food/utilities and car payments/insurance. How long does it normally take before they get a judgement to garnish possible wages (if I ever get another job), lien on my home or freeze my checking/savings accounts? Is it true that credit cards (like macys, kohls, visa/mastercards) are non-secured loans and they can't freeze your accounts or lien on home/cars? Please give me suggestions. I had excellent credit last year, now its going to be BAD. I'm most likely going to file bankruptcy by years end.

They can (and do) do it right up until the statute of limitations... and that is a number of years.

How fast that might be varies by just how aggressive they are pursuing it.

Hi, superfriendlady!

Have you called the credit card companies to see about making payment arrangements? Usually, something can be worked out. I've done that a number of times.

Thanks!