Help! I need tips for cleaning up my credit before I get hitched. [more inside]
posted by weirdoactor on Dec 1, 2006 - 10 answers

Four credit cards. Two owned by the same company. Total debt about 70,000. No mortgage. No student loans. No job. No car. No kids. No rent for the next few months. I I could work for seven+ years to pay it off. I could quit paying. Interest is more than $300 a month. I have been paying one card with another for a year or two when I was out of work. Bankruptcy isn't something I wanted. Interest rates going up. My question is 'what happens'? Collections, harassment, embarrassment, garnishment? What's that like? Is that a fair price to pay for a fresh start? I get lost wanting to understand the spiritual significance of fractional reserve lending systems. If you have any perspective/experience on what its like to quit paying, this would help me see more clearly what I think I'm headed for. I guess my big concerns are collections people. How long does it take before my bank account gets seized? Can I still use it? Will they call my parents? Call me at work? Visit me? My bills go to a pobox and I my phone is a voicemail box. I just thought I could do something better with my life than give up another eight years to this. Don't ask where the money went. It's all been used wisely and judiciously.
posted by anonymous on Dec 28, 2004 - 32 answers