r/UnethicalLifeProTips • u/landshark2324 • 2d ago

ULPT credit card debt

So I have three credit cards that collectively have like $10k worth of debt.

I am now unemployed. I don’t have any assets. And my spouse isn’t on any paperwork for those card nor am I listed on “their” assets such as the house we live in nor their vehicle.

What can they do? They can garner my wages and I don’t have any assets they can take.

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u/Grand-Regret2747 1d ago

I would talk to a bankruptcy attorney, because credit card debt is generally unsecured debt, therefore they can’t attach your property to a lien. I worked for attorneys about 14 years ago that reduced peoples credit card debt to much smaller amounts .

I AM NOT AN ATTORNEY.

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u/CryptoStonerGod 2d ago

Depends on what state you're in

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u/thewharfartscenter_ 1d ago

They’ll call you constantly then send you to collections, who will then sue you, and they’ll get a judgment against you, once they have that, they’ll just wait until you get on your feet and then BAM! Garnishment at the maximum that your state allows until every penny is repaid. Yeah it will follow you in different states too, the only way to get away from it is to leave the country, for 7+ years.

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u/coralcoast21 1d ago

Most states allow renewal for judgements at a very nominal fee. So upwards of 20 years is possible. It's also worth noting that the judgment accrues interest at a fairly high rate. For instance, Virginia allows 6%.

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u/MatrixLLC 1d ago

are you able to do a debt consolidation ? it's better than bankruptcy

if you're not listed as owner on the house car or anything else, those items are safe - but eventually at that amount, garnishment is going to happen

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u/Same_Refrigerator842 19h ago

$10k probably isn’t worth going through bankruptcy or avoiding it and getting sued. Call the creditors and tell them you lost your job and they will often waive a month or two of payment requirements (check if you live in an area that was affected by a disaster, if so that can put payments off too).

Once you have the payments at bay get another job and consider American Consumer Credit Counseling to get your debt under control. They work with the credit card companies to lower your interest to as low as 0% while you pay them off, but you will lose that credit card but it’s not bankruptcy or debt settlement so your credit won’t be jacked up. They’re not the shady debt relief companies that get you sued and your credit trashed.