What should I do with my $17k debt from Bank of America?

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California residents, I’m reaching out because I was recently served by Bank of America for a $17k debt. My husband and I are really struggling financially right now with no income, and we’re feeling overwhelmed. I’m not sure whether to try settling the debt or if we should get a lawyer. This is all so new to us, and we’re not sure where to start. Any advice or guidance would be really appreciated.?Please help! ️
 
YYou should definitely reach out to them to work out a payment plan. If you don’t, they could sue you, and if they win, they can garnish your wages or put a lien on your bank accounts. I know this because my sister went through something similar with a bank owned credit card.

Here’s the thing: in California, even though the debt will fall off your credit report after 7 years, a judgment can be renewed every 10 years in court. That means the debt keeps going, and interest keeps piling up until it’s paid off. So it’s a good idea to take care of it sooner rather than later.
 
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