Hi,this site is great hopefully I can get some good advice.Here is my story.I lost my childcare job a little over a year ago.Well since then we have only been able to pay the min. on my credit cards.These cards are all in my name.Well it has been getting harder to pay this because our autos engine blew so we had to purchase something else.I am about 3 months behind on all except one that is about 5 months past due.We cannot pay the min. so we don't see any reason to go the credit repair route since we don't have any money to pay.My husband has ok credit ,he has no credit cards and does not want any!I guess what I am trying to ask is if they can touch his income?We have a joint checking account but once he deposits his check it goes fast and we only keep about $50 in most times.We own our house but it's in his name and the auto is in his name also.We also had to purchase health ins. for our kids so our income has took a big hit.If they touch his income we would not be able to pay our major bills(mortgage,utilitys,ins.).I would love to be able to pay my bills but I don't see any way out of this mess.I could get another job but the only jobs I can find will barely pay for the childcare I would need to go to work.How Likely are they to sue?Here is a list of the creditors and the amount owed! NEXTCARD(about $1500) MBNA(about $2500) Lowes($500) Sears($1500) JCPenny($600) Spiegal($2000) 2 CAPITAL ONES one for $600 and one for $700 All those include all the late fees and interest so far.My husband does not want to file BK.He feels this could jeprodize his job.He has a chance to move up next year but it involves overseeing some company finances.So that would not look good!We are not deadbeats we have never been late on our auto payments or mortgage or any utilitys.We just hit hard times and had to choose what bills to pay.And if they get a judgement how long will it stay on record?Thanks
sr567, Don't feel bad about your situation. Job losses are everywhere and about 1/4 of the country, if not half, is in the same situation you are in. I think a lot of companies even had to lower their lending standards. People who used to drive $100,000 cars in Silicon Valley can't even get jobs at McDonalds so be glad you don't have their debt load! That being said, have you tried to alert your creditors about your situation ? They might get the impression you are trying to avoid your debts vs willing to pay them but can't presently. Some have hardship programs. Keep in mind all creditors are not the same. Most don't care if you are on your deathbed with one hand on the bed post and the other holding on to Jesus Christ, they want their money. You should get helpful responses from people who have been in your situation shortly. Good Luck.
There really aren't many practical answers for you at this time. So let's look at the problems first. While I can't give you anything more than a generic answer to this question the practical answer is that one must always that since they have the power to sue they maybe likely to do so and I would tend to look at them a bit like rattlesnakes. If they can bite they probably will.
