trying to start fresh

[littlemouse]

Hi all, looking for some much needed advice. My ex and I divorced in 2013. During our marriage, I made some very stupid financial decisions!! I have very high credit card debt!! I have not touched any of my credit cards since 2013. I cannot even make the minimum payments at this point. It feels like there is no way out.
I have been contemplating bankruptcy for the last two years but I'm scared to pull the trigger. I'm in school now and getting my life back on track. The bankruptcy will stay on my record for 7 to 10 years. I live in texas and I'm about one year away from the statute of limitations for my debt. Should I just let it go or file for bankruptcy? Just not paying them is not where I want to be at, but the reality is that I am.

[james.hendrickson]

Hi Littlemouse,

Welcome to the forums. You are not the only person who is in this situation, so don't feel that you are alone.

Perhaps if you could disclose some more information about your credit card debts as well as your income and other assets, that might give us a fuller picture about what could be done?

[GoodSteward]

Welcome to the forums!

How long have you been missing the minimum payments? Can you please list the cards and debts on them? If you are not sure, go to credit Karma and sing up. It's free and will tell you everything you owe and where they stand.

Also, as James mentioned we need a better overview of what you are facing to be able to better help give options. Please list after tax income, and normal monthly bills.

What are you going to school to do, and how long is left of school?

Do you have children?

Do you rent or have a mortgage?

[97guns]

i had an issue with a purchase made with CC and the CC company wouldn't back me so I stopped paying, took a 100 point hit on my FICO score and within 4 months I was getting letters from the CC company offering me a 40% reduction if I pay it now, I ignored them also and now it's on its 2nd or 3rd collection agency and they are getting no results either

This was for a couple thousand, not sure what happens if in the tens of thousands, may have to test that water someday too