Stop paying cards?

[Ttm123]

Hi. I have 22 cards most are 1000 or less. One card is 3000. I don't want to file bankruptcy but I do want to stop paying all of them but the 3000 one. I'm hoping I wont be sued because they are all small amounts. Has anyone did this before? I know it will kill my credit but that's been bad now for years. I just want to start over but not file bankruptcy. I also want to be able to live again. I'm so strapped because of it.  

[Varsity_Lu]

Sorry about your situation. What kind of amounts are we talking about? Are all 22 maxed out?

[FicoMike0]

I don't think anyone will agree it's a good idea. You'd be commiting credit suicide. I wouldn't count on keeping the $3000 account, once they see defaults, they'll likely start balance chasing. 

You might get away with it, at the cost of your credit for 7 years, but you should be prepared to go bk7 if you get sued. Start putting aside any cash you can and bury it in a mason jar in the backyard.

Are you judgement proof? No assets, no prospects, no nothing.

[Ttm123]

I have around a total of 18000. They are all between 400 to 900 with the exception of the 3000 card. 

[FicoMike0]

So, what's your total balance owed? 

Are all different banks?

If you owe one bank $500 on each of 4 accounts, they're 4 times as likely to sue.

[Varsity_Lu]

@Ttm123 

What is your total minimum payment each month on all the cards as of right now? Total, not individual cards.

[Uquerius86]

In order to avoid credit suicide, have you thought about going with a credit counseling agency? This will consolidate your payments and it will not cause you to stop paying them. If all your payments are up to date, I'd just enroll with them and get that lower payment amount and lower interest rate. I've done it before using American Credit Counseling. It's really easy to manage.