Credit card advice needed.?

I haven%26#039;t been able to pay on credit cards since last May. Was going to go bankrupt before new law passed, but couldn%26#039;t come up with $1200 to pay lawyer. I have just ignored the creditors and never talked to any of them b/c I am a full-time student and don%26#039;t have any money. I will graduate in May and already have a job lined up. Now I got a letter saying that an arbitrition was filed against me. My mom had gotten one of those for not paying a credit card and now she got a letter stating they were going to garnish her bank account (but it wasn%26#039;t even her bank!)! Am I getting sued? Do I need to file bankruptcy ASAP? Can I even file bankruptcy? Any advice? We are talking over ten thousand dollars of debt here. I was planning on consolidating after I graduated or going bankrupt. But now with these legal letters I am thinking I need to do something now! Help! (The big bills are from past 5 years of helping support my mom and four younger siblings b/c mom was very ill).

Credit card advice needed.?

What you should do is talk to them and explain your situation... Also I would look into going through a debt consolidator... That is what I do... and I was in your situation and now all I have left is less than a year and I am debt free!!!! I had to go to court for one of my bills... and when I did that the person said that they couldnt take money I didnt have, so they worked with me so I am paying a very low payment... SO your best solution is to talk to all of them... They may be able to help you out...

Credit card advice needed.?

You should still be able to do debt consolidation and they should be able to stop the letters and calls, there is chapter 7 bankruptcy and chapter 13 bankruptcy, one of them is not as bad as the other but that should be a last resort. I would make sure you call a %26quot;credit counseling service%26quot; which is not a bankruptcy lawyer.

Credit card advice needed.?

Credit cards should be against the law. It is so easy to end up as you and so many others.

Have you tried credit counselors? There are a lot of them out there. The problem with them is that with some of us, we still cannot afford to make the payments after they do their consolidations.

Bankrupsey lawyers charge different prices. Call every lawyer in the yellow pages to see if you can find a lawyer cheaper then that. Call the Bar Association and ask them for help. They may be able to help.

Credit card compainie raise limits on cards even though they know the creditor will not be able to pay the bill off. That should be against the law.

If you do file bankrupsy, do not ever apply for one again or you will end up the same as you are now. You will get many applications for credit cards where the interest is so high that you would end up homeless. You%26#039;ve learned your lesson.

Credit card advice needed.?

If you decide to file bankruptcy I would recommend that you do before you get that job. As you know the bankruptcy laws have change the more money you make the less chance you have. I you can try to settle you debt with the creditor that is taking you to court. It may be too late, but it is worth a try. I just settled a 10000 dollar debt for 3500. So if I can leave you with a plan of action I would first try to settle all debts than if that fail consult with a lawyer about bankruptcy.