No. of Recommendations: 1

You're right about one thing. It's not worth bk. I don't think I'd do the home equity loan. To begin with, no job means you won't get the loan anyway. Also, with only 2 years of ownership, you may not have much equity either.
You're first thoughts are correct. Transfer the card to lower rate cards and get your employment situation straightened out. ALso, if you BT 10k I'll bet your going to start getting all sorts of attractive transfer options in the coming months as that hits your credit report.


I'd be cautious about moving this debt around until after a bankruptcy trutee accepts the claim for payment. Make too many fancy moves and they may decide that ownership of the debt is uncertain ---and reject the claim.

Also, I would put no credence in promises by the management to pay off this debt. If they've filed for bankruptcy themselves, their ability to make such payments is reduced or probably eliminated. Payment would be up to the court and the bankruptcy trustee.

Can you explain how you accepted liability for this debt? Did you apply for the credit card yourself or what? How might other people avoid this kind of problem?

Sorry to hear you got nailed with this problem. Did they delay reimbursing you for expenses or was this a normal amount of debt for you to carry?

Seattle Pioneer
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