Legal Question in Credit and Debt Law in New York

To answer the question more information is needed.

Do you own a home? Car? Other assets?

If you do not pay the credit cards, after 3 or 4 months they will negotiate the debt but you need to be in a position to make a deal.

Have you considered bankruptcy? Whether or not this is a viable solution depends on your assets, if any.

As the previous answer stated, bankruptcy may be an option. You should contact a bankruptcy attorney to discuss your situation. The law provides for exemptions for certain property, so owning a house or a car will not prevent you from filing if you are within or near the exemption limits ($50,000 for equity in a principal residence). Please contact my office directly should you wish to discuss your situation further.