Default on Credit Card Debt in Florida

[ninadelsol]

I have over $12,000 of credit card debt that I accumulated between 2003-2005 on four different credit cards while living in FL.

I was laid off in 2003 and have been freelancing as a graphic designer for the past two years, barely making enough to pay for basics like rent, food and clothing. I moved to Venezuela for a job opportunity and no longer live in FL.

I haven't made a credit card payment since April 2005. I have no money & no belongings aside from a used car that I purchased to get around in Venezuela. I don't plan on going back to the US until 2008. Last I heard, I was getting letters from collectors agencies and have no idea how to deal with them.

Can I get sued even if I am no longer a resident of FL?

Should I try to negotiate my debt with collectors?

If I never pay those debts, when will the debt be erased from my credit report?

Any recommendations that don't include bankruptcy?

Thanks in advance for your ideas.

[Mr. Knowitall]

Can I get sued even if I am no longer a resident of FL?

Yes.

Should I try to negotiate my debt with collectors?

You have nothing to lose.

If I never pay those debts, when will the debt be erased from my credit report?

That's not a simple question to answer. While a bad debt or write-off will eventually drop off your report, if they do sue you the judgment debt can appear on your credit report long after the date the debt would otherwise have dropped off.

Any recommendations that don't include bankruptcy?

It sounds like bankruptcy won't do much to worsen your credit rating, so perhaps you should consider it as an option. You can look into credit counseling - but that's almost as damaging to your credit score as bankruptcy.