Too many times over the past year, I have had to choose between paying credit card debt and paying for the necessities of life like rent, food, health care, etc. I lost my job six months ago, and the unemployment checks just don’t cover expenses.

So what do you do when you can barely afford to pay your credit card bills? I guess you stop paying them. So then what happens? Eventually the debt collectors start calling. So I need a plan to deal with them.

I have been searching online for answers on how to deal with debt collectors. It has been hard to avoid the debt settlement companies and debt elimination scams. They all try to seduce you with, “Let us take this problem off your hands.” But, from what I have read, when you do that, the problem gets a lot worse because you are not aware of what is going on with your creditors.

In my hours of searching online, I came across a blog by a fellow who was doing the same thing I am going to do,find a way to eliminate credit card debt by not paying it. He searched for answers and finally found an e-book titled the Credit Card Debt Survival Guide, whose author explains in detail how he successfully stopped paying his credit cards and eliminated his debt by frustrating debt collectors. Still somewhat skeptical, I liked the guy’s 90 day money-back guarantee and found the answers I need to proceed. Bankruptcy is the elephant in the room in this blog. It is a shame to have to file for bankruptcy protection from unsecured credit card debt. Apparently the 2005 bankruptcy law changes make it harder to get protection from credit card companies, if you are in bankruptcy. Plus, your credit is ruined for 10 years, as opposed to a maximum of 7.5. Fortunately I can stop payment and use available consumer laws, if I need to, to eliminate my credit card debt.

Tagged with: • • •

Filed under: Uncategorized

Like this post? Subscribe to my RSS feed and get loads more!