Hi Everyone,
Im 24 and was given ALOT of credit when I started to apply for cards at 18. Now I have so much debt, I can't keep up and have decided to file for CH.7. I have a lawyer and everything is ready to file next week. All my debt is from credit cards and one personal loan.
CC-108,000 and Personal Loan is 6,000. I learned my lesson and honestly I never want to feel like I do now, it's terrible not ot have credit. It's so stressful to have so much debt at my age, but I guess it's better to learn my lesson now then later. I just want a card with a small limit to use and pay off every month. My biggest debt is from my citi aa card for $48,000 last year they put me on a hardship program but the monthly payments were $867 and I couldnt afford that, they have since sent that to collections and they offered to settle for $28000 but I dont have that type of money. My second largest card is my Saks store card for $32,000 they are with cap1 and I TERRIFIED I wont get approved later on for a card with cap1. Do you think I'll get denied becuase I burned them in a store card? Am I doing the right thing? Will I have credit in the future? Will I be able to buy a house and get a mortage in a few years?
