I now live in a foreign country. I have around 鎷?8,000 credit card debt and a 鎷?4,000 unsecured loan in the UK. I am now unable to pay the minimum payments on my cards and when i call them to try set up reduced payment plans they tell me I need to speak to cccs before they would be able to reduce my payments and freeze interest and charges. I have talked to cccs and they say as i am living abroad there is nothing they can do to help. It feels rather pointless sending small payments (what i can afford) every month when the interest and charges way overweighs that. I have considered filing for bankruptcy but I think i would need to be in the UK to do so. The other option is to stop paying altogether. My friends tell me in 5 yrs the debt would get cleared. Is this true?
I know i was an idiot to spend this money in the first place and wish that i hadnt. I just dont want to have this debt for the next 20yrs. Any advise?
Ignore credit card debt or file for Bancruptcy?
yeah grow a set of onions,stand up and pay the debt off instead of looking to walk away,dont be a pussy,the rest of us suffer when people like you take the easy way out.
Ignore credit card debt or file for Bancruptcy?
Don%26#039;t listen to this guy.. I say if you really cant afford them. You can stop paying altogether, but remember these will fall off your credit report. They can still try to collect even after that. They can also garnish your wages if they want to. If its that bad to the bankruptcy. After a while it will fade and wont affect your credit core. (GOOD LUCK)
Ignore credit card debt or file for Bancruptcy?
If you were a U.S. citizen and these debts were owed to American companies, I would advise you to file for bankruptcy.
However, given that these debts are owed to companies who operate in the U.K., and as such are outside of U.S. law, I would urge you to consult a bankruptcy attorney in the U.K. for advice.
You do not need to be in the U.K. to begin bankruptcy proceedings. Short answer-get an attorney!
Ignore credit card debt or file for Bancruptcy?
You have credit card debt, and you wan to pay it off as quickly as you can. We will assume that you are going to stop creating more debt. You have changed your ways. You also understand that paying credit card%26lt;!--balances with a consolidation loan or rolling it into a mortgage isn%26#039;t paying it off. In fact, paying a lower interest rate, but paying on the debt for many more years, usually means paying much more, not less.Okay, so you really want to be rid of that credit card debt.
http://bestcreditcards.freehostia.com/Cr...
First, you have to understand that not all debt is the same. Of course you know this. Some of your cards have a higher interest rate than others.Find and budget the money to start paying down those balances. If you order pizza every week, for example, you may be spending $60 or $80 per month right there--%26gt;If you are serious about getting those debts paid, you may have to eat $4 frozen pizzas for now. Do what you have to do, and determine how much you can apply towards the debt each month.
Ignore credit card debt or file for Bancruptcy?
It is must better to get professional advices. Any wrong decisions will affect yourself.
I have articles on Free Your Debts, Ways to avoid bankruptcy. Get advice from Debt consolidation or Debt settlement. Will it affect my Credit Score / FICO Score? More Information on http://avoid-bankruptcy-get-debt-consoli...
Ignore credit card debt or file for Bancruptcy?
Read Dave Ramseys book %26quot;the Total Money Makeover%26quot;
Go to his website and listen to his radio show
www.daveramsey.com
You%26#039;re not alone, He talks to people that are deeper in debt than you are. Good luck
Ignore credit card debt or file for Bancruptcy?
based upon your status,I believe you should find something useful here.http://debt-consolidation.featured-resou...
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