Hi I was served a complaint and I do not know what to do. It is for credit card debt that is about 2 years old. The amount is now around 17,000 when could not pay anymore it was around 14000. I am unable to work right now, but I am in school and I do not own any property or anything. I have thought about going bankrupt but that is something that I really do not want to have to do. I do not know if I should answer the complaint or what. I tried to talk to the debt collecting law firm and ask if I could pay $50 a month until things get better for me, but they said it was too little of an amount and that they were still going to go through with the judgement. I do not know what to do. Any advice would help a lot. Thank You!

You have two choices: somehow come up with the money to pay it off, or come up with a revenue stream that would allow you to pay them something more substantial monthly OR, go bankrupt.

Right now your credit is probably in the tank because of this account. Erase it. It will take 10 years for it to be removed from your credit report, but if you use that decade to slowly rebuild your credit, you will be better for it on the other end.

This is only my opinion, you should talk to a licensed financial and/or legal adviser.

As the lender sees it, you could work, just chose not to, you could work and go to school, work and go to school part time, or work to get debts paid off then go back to school.

You made a obligation to pay this debt, were you earning enough money to pay them back when you borrowed the money? What happened to make you stop paying them?

What would you need to do, to start paying them.

Of course 50 dollars a month does not even ( most likely) pay the interest, if you paid 50 dollars a month for a few years you would still owe more than you do now after that.

So your choice is to work out a plan they can accept, of they will sue and get a judgement. The judgement will law for years and can be renewed, so they can just wait till you go back to work after school and take a percent of that pay till paid