posted on Oct, 1 2009 @ 07:10 PM
Look I paid the ridiculous credit card interest rates for almost 2 years. They won’t work with you. (Although BOA did offer .15 on the dollar to
settle.) The rest won’t come close to a reasonable settlement. I had Chase, Capital One and Discover also. Chase sued me. They were all more then
paid in full. Screw them!
Your credit is shot by now. You have to bit the bullet and inflict as much damage on them as will be to you. I can tell you from experience,
bankruptcy is the only way out. I called and wrote them all many times. The Gov. help is a joke. I had to file Chapter 7 and loose my house.
I may have been able to keep it but there were problem with the house that could not be fixed. (Long story). I had a first and a second mortgage. The
second was used for improvements to the house. One being a large steel building. I spent 200K on the building but sold it for 10K so that it would not
be part of the property when they finally got it back. They were pissed. It was not on the deed. Totally legal.
Told them I would accept cash for keys to get me out, otherwise see you in court and evict me. I got 3K to leave at a date I chose. This process takes
many months to a year.
I am now renting again. Bankrupt but, 1.5 M debt free. It’s a slippery sloop. One you start down hill you are not getting back up. You just can’t
trash the place but you can do something like: Got a nice refrigerator, sell it on Craigslist and replace it with a free one front Craigslist. Don’t
use banks! They will take every dime. Everyone in this situation needs to revolt, you will not win but you can go down fighting like hell.