Legal Question in Credit and Debt Law in Massachusetts

Credit Card Debt was written off as a bad debt and showed on my credit report as bad debt written off for 6 1/2 years. Now I am being pursued by a debt collector who has filed a civil case. I am unemployed collecting social security and cannot pay this debt off. I agreed to a payment of $25. a month until I can find work. I am considering filing bankruptcy and starting over. What would you advise? Thank you.


Asked on 1/06/11, 7:03 am

2 Answers from Attorneys

Steven Striffler Steven R. Striffler Attorney At Law

You may want to consider filing for bankruptcy if you cannot pay the debt off within two years.

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Answered on 1/11/11, 7:13 am
Christopher Vaughn-Martel Charles River Law Partners, LLC

You may want to consider bankruptcy, but that really depends upon your financial situation (do you expect to be on social security forever? do you own your own home? what is the amount of the debt?).

In my opinion, the worst thing you can do is agree to a payment plan. You will pay them $25.00 month for the rest of your life, and you will not even be paying off the interest at it continues to accrue.

If you would like to discuss the option of settling the debt legally once and for all with the help of a consumer debt defense attorney, please feel free to contact our office.

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Answered on 1/11/11, 7:19 am


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