can't pay credit card-any limit on colection time ?

[1234toby]

several years ago I went broke as a self employed person. because of health I will never be able to pay my credit card dept. I should have declared bankruptcy but could not afford it. Is their a statute of limitation on the collection of credit card dept? Maybe a way to declare bankruptcy at no cost? I have been able to keep up with and pay all other bills except the credit cards. The credit cards were used for my bussiness and payments alone would amount to several thousand a month.

 

[billybankruptcy]

limit on collection

Toby - Every state has a statute of limitations, time limits within which to sue for breach of contract. In NJ, it's 6 years from the date of the last payment. As for filing bankruptcy, check with your local Legal Services office. They may do it for free if your below certain income levels, depending on family size.