I am being sued by a collector over a credit card. It is in my name only, and I have no income at all. What are my options?
Question Details: I have had this card since I was 18, and my husband's name is not on it. He has been the sole provider for our family of four for the past 3 years. I was making payments up until late last year when my husband's job started struggling because of the economy. We are living paycheck to paycheck as it is. I just want to know what options I have.
Bankruptcy Law Answers
I am a lawyer in CT and practice in this area of the law. You can file bankruptcy to discharge the debt. Or you can talk to the collection company to try to get on a payment plan to repay a compromised amount (i.e. less than what you owe). However, under these deals you need to pay a lump sum up front. I suggest that you speak to your accountant or a bankruptcy lawyer to determine which route you should take. Filing BK may be the best option for you.
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