Legal Question in Credit and Debt Law in Texas

credit card default

I am 50 years old with good established credit. I had to quit my job to care for my disabled husband and I had to rely on credit cards and a loan to make ends meet. Now I've fallen ill and am unable to make these payments. On 1 card I owe $15000 and on my loan I owe $16000. I know that defaulting will ruin my credit but fortunaley everything is paid for and I used no collateral so my question is will defaulting affect my other credit cards with zero balances and what kind of legal action can be taken against me? I have really good high credit limits on my other cards and again am asking if they will be affected?


Asked on 1/09/08, 1:11 pm

1 Answer from Attorneys
James Grissom Law Office of James P. Grissom

Re: credit card default

Some credit cards monitor your credit activity and will cancel your cards. Some don't. I don't know which ones do and which ones don't.

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Answered on 1/09/08, 1:19 pm


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