Your Credit is Bad and You ...

One of the worse things a person has to deal with is being in debt that they can't even begin to fix, they literally have a mountain of debt and they dont have the income to fix these problems, therefore they are now forced to live simply and in most cases they dont have any property that a creditor can put a lien on. In this instance, they may choose to do absolutely nothing about it. The question many of these people have is, should they simply do nothing.

The truth is if you do live simply and you really dont have any property, then you are one of those people that a judgement will not hurt. They can take you to court and sue your pants of but you cant afford to pay and you have absolutely nothing that they can attach in order to recoup their money, and going to court with you cost more than the debt itself, so many creditors simply write your debt off as being uncollectable.

The Law will not allow your creditor to come into your house and take your furniture, they also wont be able to keep you from getting public assistance or social security, so they will eventually back off knowing that you cant afford to pay and eventually this will fall off your credit report as it will be uncollectable under your state's law anyway.

However, it is only for those who dont plan on having a regular job or that does not plan to buy any properties in the next 7 years that this may be an option for. For those of us who would like to own property or have a job, it is better to fix your credit report and pay off your creditors as soon as you can.