A debt collection agency contacted me at work today demanding payment of my credit card ($800). They wouldn't make any payment arrangements other than full payment or they'll garnish my wages. I have some other debts from a former cable company ($300), and my current accounts aren't entirely up to date. I don't earn a high salary and I don't have much credit, so debt consolidation would almost certainly be denied. Should I file for personal bankruptcy? The rather unpleasant man who contacted me today said that with wage garnishment, I'd probably have to pay back $1400-$1500 in total on an $800 debt. Furthermore, if my wages are garnished, I won't be able to pay my rent, my bus pass to get to work, and my other bills will likely go into collection as well. How can I pay a bankruptcy trustee if I don't have any money?
It's unlikely your wages will be garnished, as the amount of the debt doesn't justify such costs for the creditor.
Nevertheless, your situation is difficult, and these calls are very disturbing. Take the time to meet with a trustee and discuss your options. Bankruptcy isn't necessarily the answer.
Nevertheless, your situation is difficult, and these calls are very disturbing. Take the time to meet with a trustee and discuss your options. Bankruptcy isn't necessarily the answer.
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