The problem for the consumer with credit card debt is it gets charged off and sold to a junk debt buyer six months to a year after payments have stopped. Some consumers may be forced to stop paying their credit card debt because of temporary low income. But, once they are able to pay again, the damage could already be done. Their credit is ruined, and the debt collectors are calling. The balance has been grossly inflated by interest, penalties, commissions and fees. At that point the best credit card debt solution is to eliminate it by continuing to not pay it, or to file for bankruptcy.

Bankruptcy is overkill for credit card debt and it is personally a difficult experience. Bankruptcy stays on a credit report for 10 years, while an unpaid credit card debt can only remain there for a maximum of seven. The stigma of bankruptcy follows you for life every time you have to answer a job or credit application’s question, Have you ever been through bankruptcy?

According to the Credit Card Debt Survival Guide, debt collectors and collection attorneys have difficulty documenting credit card debt, particularly if they represent a junk debt buyer to whom the debt has been sold. According to the guide, a credit card debt lawsuit can be avoided. What is required is the proper written communication to the debt collector or collection attorney.

“This claim, or this attempt to collect a debt, has not been reviewed by an attorney.” Just like notices from collection attorneys send notices that are the same as debt collector notices. In fact collection attorneys are considered debt collectors by the Fair Debt Collection Practices Act. The appropriate written communications with a collection attorney will motivate him to spend his time elsewhere, just like it will a debt collector.

Consumers should revise their thinking about bankruptcy when it comes to credit card debt. The selective informal bankruptcy with non-payment of credit card debt is the effective debt solution to consider.

Matt Highlander is a consumer who has researched credit counseling, debt settlement, debt collectors and collection attorneys. If you want to Eliminate credit card debt, read the Credit Card Debt Survival Guide. Matt Highlander is a contributing writer. Www.credit-card-debt-survival.com

Ahhh credit cards! I had to stop paying mine. Higher interest rates and increased monthly minimum payments forced me into this situation. There was not enough money to cover food, rent, health insurance, etc. AND credit card bills. So, I have decided to put my credit card debt behind me by not paying it.

I used to make a lot more money than I do now. I spent a lot and carried a lot of debt. After I spent too much of my income paying my credit cards, I began to wonder if I could eliminate credit card debt by not paying it. I went into online consumer forums to learn about how other people were handling their debt problems. It became clear that those who did nothing in response to the inevitable collection efforts had a good chance of ending up in court for the debt. But, there were many others who did respond with success, some even boasting of their success defeating debt collectors and collection attorneys.

I began to wonder whether I was just getting half the story. I doubted whether I had all the information necessary to be confident with my communications to debt collectors. Everyone’s financial situation is different. State laws governing consumer debt differ from state to state, and not all credit card companies handle delinquent debt the same way. Finally, I found an e-book written by someone who had done what I was trying to do, eliminate credit card debt by not paying it. His Credit Card Debt Survival Guide is long enough, over 200 pages, to cover most specific situations, and it is peanuts (under $50) compared to what those debt service companies try to charge. This guy spent a lot of time researching credit card collection, the credit card industry and what people did to successfully walk away from credit card debt. There are a lot of links and references in this book attributed to credible third parties. He even covers credit repair. After reading this I know I made the right decision about my credit cards. And, now I know how to proceed confidently.

I do not have enough money in the bank or make enough money to pay off my credit card debt. I am stuck with high interest rates and high minimum monthly payments that I can barely make. There is no relief in sight. I got in over my head with credit card debt, when I used my cards to pay my daughter’s medical bills.

It appears that the only solution is to stop paying those debts and save my funds for emergencies. I will need a plan to deal with debt collectors and collection attorneys and to repair my credit.

In my Internet search for answers to my debt problems, I have come across a lot of main stream web sites and articles that preach budgeting and financial planning. I DO NOT have enough money to do that, and apparently millions of other people do not either. But, no one talks about the reality of nonpayment of credit card debt in the main stream media.

Until recently, I thought I would just have to take a blind leap of faith and wonder what would happen. I read an interesting blog by someone in my predicament. He had stopped paying his credit card debts because he could not pay them. Then he decided to make the best of the situation and attempt to eliminate credit card debt by not paying it. He had also spent a lot of time researching that option on line, with mixed results, apparently. That is, until he discovered an e-book for sale called the Credit Card Debt Survival Guide, which was written by someone stopped paying his credit cards and searched and actually found answers to how to deal with the credit card companies, debt collectors and debt collection attorneys. He sold me. Long story short, I went and bought the book. It has what I need and saved me a lot of time.

Bankruptcy is the elephant in the room in this blog. It is a shame to have to file for bankruptcy protection from unsecured credit card debt. Apparently the 2005 bankruptcy law changes make it harder to get protection from credit card companies, if you are in bankruptcy. Plus, your credit is ruined for 10 years, as opposed to a maximum of 7.5. Fortunately I can stop payment and use available consumer laws, if I need to, to eliminate my credit card debt.