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    outofmymind16's Avatar
    outofmymind16 Posts: 1, Reputation: 1
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    #1

    Jul 17, 2007, 06:14 AM
    Credit Card Debt
    I have gotten myself into credit card debt (approx. $50.000.00) of unsecured credit cards. I have recently lost my job and have no mortgage or car payment. What can the credit card companies go after? I have tried to call them to work out a settlement but some won't work with me until the account is 90 days to 6 months past do? My credit report is already messed up is there anything more that can be done to me?
    mr.yet's Avatar
    mr.yet Posts: 1,725, Reputation: 176
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    #2

    Jul 17, 2007, 06:50 AM
    If you have no asset, you may want to think about filing bankruptcy under chapter 7, chapter 13 only allow you to pay it off with protection from the court.

    Chapter 7 is liquidation of all asset and debt. $50,000 is very excessive debt
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