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Need advice
A friend called me about an hour ago. He wanted to borrow some money. I won't loan him anymore money, as he already owes me more than I ever expect to get back. He wanted the money to catch his credit card payments up. He said he has about $10,000-$11,000 credit card debt and has a half dozen or more cards that he is three months behind on payments on all of them and is being dunned to death. According to him they are calling late at night and waking him up to dunn him. His job does not pay him enough to carry that kind of debt. He claimed he does not even have enough money to hire a lawyer to file for bankrupcty and said something about new bankruptcy laws. He asked me if I knew what they would do to him if he just said to hell with it and called them and told them he couldn't pay anymore. I told him I don't know because I do not have any experience in that area. I don't know anything about bankruptcy law either. By the way he has a gambling habit.
What can they do to him if he justs says sorry I can't pay anymore. What would be an average cost to hire an attorney and the cost of filing for a bankruptcy. What new laws is he speaking about. Anyone have any knowledge in these areas?
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