If you do not have any assets or a job how do you pay off your credit card debt?

In: Credit and Debit Cards

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Under the given circumstances the consumer would probably be termed "judgment proof." Meaning a lawsuit would be futile for the creditor. Some creditors will file suit anyway. To obtain a judgment, for possible collection of the debt in the future. Some judgments are valid for ten years and can be renewed. The consumer can send a "judgment proof" letter to creditors letting them know legal action would be pointless. This is sometimes effective, especially if the debtor can supply proof of their status.

First answer by Nikki. Last edit by Nikki. Question popularity: 42 [recommend question]

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