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I live with my daughter and her children. I don't own a car or anything. My only income is social security and ssi disability. I need to help with some of the bills. I can't afford to pay my credit card bills anymore. What should I do?
Ur options are To file bankruptcy or just default and let them try to collect. Yes, u could try a settlement or some type of consolidation but I get the impression from ur post that u can't afford to pay anything at all. If so, I revert back to my original statement. Between a BK and just defaulting, frankly--I think u are better off defaulting. If it got to the point where they sued you, what are they going to get? They can't even garnish ur income because it's comprised of social security and disability.
I don't know how much debt ur talking about and that would determine how likely it will be that u get sued. If it's likely, then a judgment on ur report could potentially be just as bad as a BK. If not, then a BK will be worse than a collection account, all things equal.
What state do you live in?
how old is this debt?
who is the original creditor?
you can sit down with a non profit credit counseling agency. NOT one of those scams where they promise to cut your debt in half.
http://www.nfcc.org/
this is required by the bankruptcy court and it will help you decide what to do.