Scott,

Sorry for the slow reply. I can undertand the stress you're under. I feel for you.

Cargo ships at sea have the authority to dump sea containers if they need to in order to maintain the viability of the ship (in a storm, etc.). In fact, shippers are required to have insurance for just that event.

The ship agrees to deliver your stuff.

Does it make them immoral to dump your stuff in the ocean in order to save their lives?

I don't think not paying one card will endanger any of the others. Generally those contracts will have provisions for the lender to have "recourse" if you're not current with their loan. It would be unusual (or a new thing) for there to be a provision to allow them to seek recourse from you for not paying somebody else when your loan with them is current.

I wouldn't worry about that.

As the Duke used to say, "A man's gotta do what a man's gotta do!"

I'm pretty sure it's a scam (although I don't know how) but you might consider talking to one of the "agencies" who help renegotiate debt, lower interest rates, get some forgiven etc..

The fact that you're grappling with the question at all says that you're not comfortable with the idea of just walking away from a debt.

You'll get no judgement from me, no matter what you do, but be sure you're comfortable with whatever you do 'cuz I'd had to see it bothering you later....

Hang in there.

C

Thanks for your input, Carl, it's very gratefully appreciated.

I'm still mulling this move over but so far, I'm more inclined to keep paying and just try to muscle my way through it. Mere mention of my thoughts on this subject in a recent phone conversation with my mom nearly sent her into shock. "We pay our bills in this family," she said. I know I'd be letting her down if I defaulted and I don't think I can do that. I've just gotta' make it through, somehow.

One thing that recently occurred to me was this: it's always possible that I may become one of the nation's unemployed in another year or two. If I apply for a new job somewhere/anywhere else a credit default would get me popped on a background check - a disqualifier with serious damage potential. Long-term I might be doing myself much greater harm than initially thought.

Scott,

You make excellent posts. My folks wouldn't understand the point either.

As I read your post, I thought of the concept of "Golden Handcuffs" where highly compensated people get trapped in their jobs 'cuz of the mortgage on the big house, the summer place, the Porche, etc.. They can't leave their highly compensated jobs 'cuz they can't pay.

I realized that we ordinary folks have handcuffs too but they're the ordinary steel kind....