My plan is to eliminate credit card debt by not paying it. I stopped paying my credit card a few months ago. The interest rate and monthly minimum payments became too high. I could not pay the credit card banks and have enough left over for monthly necessities.

I used to make a lot more money than I do now. I spent a lot and carried a lot of debt. After I spent paying my credit cards, I began to consider the possibility of eliminating that debt by not paying it. I began researching consumer forums to learn how other people were handling credit card debt they couldn’t pay. Many complained of being victimized by debt collectors and collection attorneys. Others, who put up resistance, were able to frustrate and defeat these collectors.

But, what worked for them might not necessarily work for me. I learned that beating debt collectors is not accomplished with a cookie cutter approach. There are different credit card companies, different state laws and different individual financial circumstances. It started to become a full time job; finding credible experts whose opinions and comments I could trust about what to put in letters to creditors, keeping track of everything and wasting time with debt service consolidation, elimination, and settlement sales pitches. Finally, I found an e-book written by someone who had done what I was trying to do, eliminate credit card debt by not paying it. HisCredit Card Debt Survival Guide is long enough, over 200 pages, to cover most specific situations, and it is peanuts (under $50) compared to what those debt service companies try to charge. This guy spent a lot of time researching credit card collection, the credit card industry and what people did to successfully walk away from credit card debt. There are a lot of links and references in this book attributed to credible third parties. He even covers credit repair. After reading this I know I made the right decision about my credit cards. And, now I know how to proceed confidently.

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