Mon, 09/02/2013 09:39
Own a 5k car
Don't rent or own a house
Income 5k/mo average
3 Credit cards
1. Capital One - $500. I always make payment but always a high balance.
2. Discover - $1250. I always make payment but always a high balance.
$23k owed. Stopped making payments about 2yrs ago.
Have been making $25/mo payments to the debt collector for about a year now to keep them off my back. Last time I talked to them there offer was $8k to settle.
I have 10k saved up. Should I pay them all off or should I file Bankruptcy?
Side question since if I pay it I'll owe taxes on the unpaid amount how much do you think I"ll have to pay? I'll make about 45k this year, am single & don't own a house.