Have at least 3 credit cards I owe on. I had to quit paying on 2 of them about 2 years ago because of some financial strain. I have continued to pay on one and am finally down to owing $400 and some change. One of the other is 10 thousand something and the other I believe is $2thousand or less. I was going to start paying on the $2 thousand dollar one next. The $10thousand one has sent me letters from collections to pay like a 3rd of what I owe but the tax burden I would have to suddenly owe would be hard.
You should contact a local bankruptcy attorney and schedule a consultation before you make any payments on the two older debts. If the statute of limitations has run you will be in a stronger position to negotiate a settlement. If the statute of limitations has not run making a payment may alert the creditor to the deadline. Depending on the circumstances if you settle a debt for less than you owe the amount forgiven will have to counted as income. You can search for an attorney using the Justia "Find a Lawyer" link at the top of this page.
