foreclosure line of credit
What is the best way to wipe out $35k in credit card debts without affecting credit score?
Hi I am married and I owe $35k in credit card debts. One of the houses in my wife’s name only is about to go to foreclosure and I tried to transfer every penny of my credit card debts to her credit cards but she doesn’t have enough credit line to do that. How can I wipe out this debt without hurting my credit score? If I stop paying them totally the creditors will hound me and call me all the time. Please help. Thanks
Jack
The only real way to do this requires some time. You would have to take out a second on one of your houses, and then pay off the credit cards with those funds. Then, you could let the house get foreclosed. Bankruptcy is another option. Or try to negotiate with your credit card company/lender.
