What is the best thing to do in a case like this?

[hobo2]

Hope I'm posting this under the best category.

I'm in my early 40's. Never been in debt until now. I own 2 credit cards and until recently had a very high FICA score. Don't own a house or anything, no outstanding bills, loans, etc. About a year ago I went homeless, still am, and about 6 months ago (at which time I owed nothing), began using one card to finance my survival. I've now maxed out the card - just under $5K. I'm still jobless, homeless, etc. Last month was the first time I skipped a payment on the account (I was borrowing from the other cc to make the min. monthly payments). I've done a balance transfer from the now-maxed out card in order to keep the other cc free of a balance. My question is: should I do anything in regards to this debt which I don't see me ever paying back (not out of lack of consciousness). Who knows when I'll have a job again and I don't depend on others, so there's no one to go to to help me. I was just reading about filing bankruptcy, but think it's not a good idea for me since I knew I was illegally "borrowing" the funds and I'm not in the country. Also, will the credit card company of the other card I still have learn of my bad card and can they shut down that card?

THank you for any advice/input!

[riverwed070707]

Sorry to hear about your current situation. Can you speak a little to what your plans to continue survival are? You indicate you're out of the country... do you plan to return? I understand the complications associated with finding work in a foreign country. $5000 isn't an unmanageable amount of debt but you have to afford yourself the opportunity to find income. Is there enough of a balance on your second card to buy a plane ticket back to the states, or whereever your home country is? You can sort out repayment options once you have cash flowing in.

[hobo2]

I have no interest to return to the states (this is a forum in the U.S., right?) and would only be able to live if staying in homeless shelters, which after doing so last year, isn't an option. As I said, my other cc is in good standing and has no balance. I'm saving that one for when I start having medical problems and have to go to a doctor. Obviously, I can sort out repayment when I have a job, but as I said, I don't see that happening, at least not enough income to be able to pay back. You didn't answer any of the questions, by the way.

[riverwed070707]

I have no interest to return to the states (this is a forum in the U.S., right?) and would only be able to live if staying in homeless shelters, which after doing so last year, isn't an option. As I said, my other cc is in good standing and has no balance. I'm saving that one for when I start having medical problems and have to go to a doctor. Obviously, I can sort out repayment when I have a job, but as I said, I don't see that happening, at least not enough income to be able to pay back. You didn't answer any of the questions, by the way.

Because the forum needs more information about your situation before any valuable advice can be given in regard to the questions you asked. Only reason I mentioned returning is because i presume you are no longer legally in the country your presently reside since most countries won't allow someone unemployed to stay for a year+ without means to support themselves or return to their home country and its hard enough to find work in a foreign country when you are there on legal status, let alone illegal. Perhaps my assumptions were incorrect. Again, additional information would be helpful.

Regarding whether your other card can "find out" about the status of your other account, no it would be illegal for them to share your financial data without your consent.

[Eagle]

What is the best thing to do in a case like this?

Hobo2 welcome to the forums!

What country do you currenty live in then? Are you living there illegally? So sorry you are in this situation. I have a friend who was homeless for about 2 years and it was really rough.

What happened about a year ago that you became homeless? Do you have family or friends you could stay with to get your life back on track?

The biggest issue you face is you have no income. Obviously, getting a job would significantly help your situation.

As riverwed070707 said the other credit card company cannot find out the status of your dilequent account nor can they share your finanical information without your consent.

[hobo2]

Eagle, thanks for the reply. I hadn't thought about getting a job. It's a good idea. I'll see what I can do about it.

[Eagle]

Eagle, thanks for the reply. I hadn't thought about getting a job. It's a good idea. I'll see what I can do about it.

Lol. I'm not sure if this is sarcam or what. Seriously though is there any local organization you can reach out to try to help you get a job and housing? You say you don't depend on others... Well sometimes we all need a helping hand. In any case good luck on your journey. I truly hope things improve for you.

[gambler2075]

Because the forum needs more information about your situation before any valuable advice can be given in regard to the questions you asked. Only reason I mentioned returning is because i presume you are no longer legally in the country your presently reside since most countries won't allow someone unemployed to stay for a year+ without means to support themselves or return to their home country and its hard enough to find work in a foreign country when you are there on legal status, let alone illegal. Perhaps my assumptions were incorrect. Again, additional information would be helpful.

Regarding whether your other card can "find out" about the status of your other account, no it would be illegal for them to share your financial data without your consent.

Wow... the OP is a total jerk... props to riverwed for holding his/her tongue and not going off on him for replying to her post trying to help, in the way he did.

I think the way he responded clearly shows that there are some personality issues that are going to make it hard for him to find a job. Good luck, pal. You're gonna need it.

[Weird Tolkienish Figure]

Hope I'm posting this under the best category.

I'm in my early 40's. Never been in debt until now. I own 2 credit cards and until recently had a very high FICA score. Don't own a house or anything, no outstanding bills, loans, etc. About a year ago I went homeless, still am, and about 6 months ago (at which time I owed nothing), began using one card to finance my survival. I've now maxed out the card - just under $5K. I'm still jobless, homeless, etc. Last month was the first time I skipped a payment on the account (I was borrowing from the other cc to make the min. monthly payments). I've done a balance transfer from the now-maxed out card in order to keep the other cc free of a balance. My question is: should I do anything in regards to this debt which I don't see me ever paying back (not out of lack of consciousness). Who knows when I'll have a job again and I don't depend on others, so there's no one to go to to help me. I was just reading about filing bankruptcy, but think it's not a good idea for me since I knew I was illegally "borrowing" the funds and I'm not in the country. Also, will the credit card company of the other card I still have learn of my bad card and can they shut down that card?

THank you for any advice/input!

Not sure what you're asking? What should you do with the debt? What can you do other than pay it back?

If you don't want to pay it back then don't, just suffer the consequences.

[atomicrc11]

Also, if one card is maxed out and payment is delinquent, absolutely it is possible for the other company to find out. It is called a credit report. Once you miss a payment that gets reported to the credit agencies. The other company will occasionally run a credit check, see this and possibly take action including but not limited to reducing the credit limit, raising the interest rate or closing out the account.

It is true companies cannot directly contact each other with private client information, but a credit report is shared because you give the company permission to check it when you have a relationship to the company with your account.

The only solution is to get a job as you need income. The location of the job is irrelevant but it will certainly be easier to get a job that pays well in the country where you have legal status. Illegal status makes it harder and if you do find a job, you are more likely to be taken advantage of in the form of less than minimum wage and working conditions.

[TheCudder]

After reading OP's replies, new account status and his screen name...I can't help but say this guy is a troll.

[Sunganani]

One thing you need to to:
Repay the debts by either getting a job or start a business.

Anything less than this is just postponing the time you will need to do this.