Legal Question in Credit and Debt Law in Pennsylvania

Hello,

I would like to know what are the consequences of defaulting on a credit card? I owe 10000 on the card I want to default on because I can no longer afford to pay it. This card is already closed under a debt management program but the payments are still not affordable. If I default, after 7 years, am I still held responsible for paying? Will my assets be taken from me (my car not completely paid for)? Will this effect me getting a job? Please list the risks and benefits of defaulting on my credit card..I am really considering not paying all together b/c I cant afford to any longer.

Thank You


Asked on 8/17/10, 9:19 am

1 Answer from Attorneys
Michael McCulley McCulley Law LLC

You may wish to consider bankruptcy if you can no longer afford to pay your debts. If you simply refuse to pay and in effect ignore them, they will hound you for collection, get judgments on you, and attempt to attach your assets. Please call me at 2155464700 to discuss your options in greater detail.

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Answered on 8/27/10, 12:37 pm


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