Mom is in debt with two credit card companies. She has no assets, so what happens when she tells them she can't make payments anymore?
Mom has a 10,000 in Sears & AARP mastercard debt. 29.9%, and 19.9%. Cos. will not budge. Income is $1400 After basic expenses, she has $300 Min payment on the 2 cards is $300. What happens if she notifies them she is no longer able to make the payments ? She has no assets. Nothing.