[debtpayer1]

We have credit card debt and have not been able to settle it with the creditors.We went with a debt company and ended up getting sued before the 36 month program was finished.they were to settle it for 50% they told us. They have been no help and we were behind because of the recession. Now were going to court for it. Will they give us a judgement to pay per month? We have nothing they could take... no house, property, or vehicles.. Just personal stuff. We owe $ 67,000. Total. We want to pay it off . We have a pension fund we could use for about $20,000 so should we use it?

[DownUnder]

You may want to consider bankruptcy
If you don't see a way out.$ 67,000 in credit card debt is a lot. Not all credit card companys will work with debt settlement companys. A judgement will mean wage garnishment if your state allows and a levy on your banking accounts. Try talking to a bk attorney and see what he suggest.

[XTC832]

debtpayer1

DownUnder is right. You may want to think about bankruptcy for a couple reasons. First, even if you use that 20K pension fund, you're still going to owe 47K, which is still a sizable amount. Second, if they get a levy on your bank account, you might end up paying into the next decade. If you qualify for Chapter 7 (most filers do), there are generous exemptions (depending on your state) for personal property and possessions. For the most part, pensions and IRA's are fully protected under Bankruptcy law. You wouldn't lose a dime of it. The creditors already showed their hand. They're not willing to negotiate. Talk to an experienced BK attorney. Feel free to leave another post with any questions about BK. Take care!