What will happen if I quit paying my credit cards?

franciejones · 03-03-2009, 04:52 PM

Ok....people with actual experience, people who are lawyers and people who are collection agents.....
I "own" a house...its worth less than I owe, I have $40,000 in credit card debt.
I live in Illinois and according to the only lawyer I consulted, I do not qualify for bankruptcy.
If I quit paying the credit cards and just pay the mortgage....can they take the house? I do not care if they place liens on the home as I have no heirs and will have to work until I am dead. I just want to retain the residence. Also, I have no savings or retirement if this info is needed for proper advice.

Please, only folks with "legit" answers.

Thanks so much in advance for your expertise!

Francie Jones
Joliet, IL.

03-03-2009, 04:52 PM	#1
franciejones Banned Join Date: Sep 2008 Posts: 307	What will happen if I quit paying my credit cards? Ok....people with actual experience, people who are lawyers and people who are collection agents..... I "own" a house...its worth less than I owe, I have $40,000 in credit card debt. I live in Illinois and according to the only lawyer I consulted, I do not qualify for bankruptcy. If I quit paying the credit cards and just pay the mortgage....can they take the house? I do not care if they place liens on the home as I have no heirs and will have to work until I am dead. I just want to retain the residence. Also, I have no savings or retirement if this info is needed for proper advice. Please, only folks with "legit" answers. Thanks so much in advance for your expertise! Francie Jones Joliet, IL. Last edited by franciejones; 03-03-2009 at 05:30 PM. Reason: needed to clarify