No. of Recommendations: 3
A few other comments -
One of my friends recently had a credit card company forgive a debt based on inability to pay. Again there is a hit to the credit score. This event also generated what the IRS considers taxable income.

If you have other debt that is not credit card, you probably want to look into your overall debt load and ability to pay. sometimes bankruptcy overs a cleaner slate than dealing with a few credit cards.
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