Worst That Could Happen?

I'm thinking about walking on my credit card debt. I have 5 cards about 14000 in debt, married, nothing is in my name, no cars, no house. I'm pissed because all of us are bailing out the banks and they cut are limits and raise are rates!! I have a 720 fico , two of my cards dropped my card limits from 5500 to3100 , not late,never missed. Because they lowered my limits , my loan ratios went up lowering my credit score!! can access my 401k in 10 months with out penalty, I will not need credit cards. I want to stick it to them!!!! Bank One tried to raise my rate from 11.99 to 21.99? I called, asked them to lower rate to 11.99 they said "NO" I said cancel card and I would not make any more payments, they put me on hold for 2 minutes came back and said they would put my rate back tp 11.99%. I don't think this will stop. The thing that pisses me off , they never let me know of the credit reduction!!I've always had good credit, I'm 59 years old and sick of this loop sided system!!! Several years ago I was given a few years to live, I get SS disabilty, about 1700 a mouth, my wife works, makes great money. I want to be bad and break all the rules I've lived by !!! Screw the "********"

Are those credit cards in your name only or are they joint cards? You yourself don't reallyy have to worry about anything because disability payments are not garnishable (if they're SS payments). But if those are joint cards they could go after your spouse.

Quote:

Originally Posted by magyar1045

Are those credit cards in your name only or are they joint cards? You yourself don't reallyy have to worry about anything because disability payments are not garnishable (if they're SS payments). But if those are joint cards they could go after your spouse.

Wife is not on any cards

Good - one last thought - are you in a community property state? If yes they could still go after her.

Quote:

Originally Posted by magyar1045

Good - one last thought - are you in a community property state? If yes they could still go after her.

PA is not a community property state Thanks

On the other hand if you don't pay anymore they might get a default judgment against you. While your SS is not garnishable, your bank amount could be frozen. And then it becomes a pain in the a.s to unfreeze that account. Get two separate bank accounts, one for yourself one for your wife at a different bank.

Quote:

Originally Posted by magyar1045

On the other hand if you don't pay anymore they might get a default judgment against you. While your SS is not garnishable, your bank amount could be frozen. And then it becomes a pain in the a.s to unfreeze that account. Get two separate bank accounts, one for yourself one for your wife at a different bank.

Bank accounts are in my wifes name . My SS account is in her name" she is incharge of that account" when I get NUTS and cain't make good judgements!! "ANY DAY NOW"