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.

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