Legal Question in Credit and Debt Law in California

I will try and make this as simple as possible.i am a senior citizen living on social security,single,a renter, with no assets.i am unable to meet my credit card payments that they require.i have offered a minimum payment to each of my credit card companies as suggested by legal advice.as they have been ignoring my offer since 9/1/09 and are now threatening me now with their attorney.if i have made an offer and they continue to ignore my request,what can they get if i have nothing?maybe one old car in need of repairs,one desk,book case,bed and mattress,tv.any advise would be appreciated.

thank you,

james


Asked on 2/01/10, 6:59 pm

1 Answer from Attorneys
George Shers Law Offices of Georges H. Shers

You probably are in a position that your credit rating does not really matter. So you could stop making payments on some of the cards and tell them you are willing to start payments if they reduce the balacne so that you can afford to make the payments, otherwise you will just file for bankruptcy. If that does not get them to agree to some lower balance, there are companies that claim they can get the balance down to around 50% with your making periodic payments; many of these companies are questionable, so you have to do research to find an honest one. You might want to speak with a bankruptcy attorney to see if that might be a better solution.

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Answered on 2/06/10, 7:54 pm


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