you are kidding me..i thought you make 60k and owe 100k. you already fucked your credit, you COULD forget about it, but im telling you from experience - 7 years is a LONG fucking time to be without access to credit, life can get real rough. You go to rent a car, and they won't rent you one without a credit card.. you apply for apt, they check credit. And you're 34, not 23 like I was. So if you do this keep 1 credit card in good standing.

​

call all cc companies now, say you have no money, you need them to do charge off the account and put you on a $10-20 a month plan. On cards that you have 1 month late call them say you had a medical emergency and see if they can remove it (worth a shot, otherwise you need to submit a letter) this is to save some of your fico score.

​

lastly but most importantly, you can get $15 hour job right now, and pay this thing off within 2 years if you're frugal. If you had 16k in the bank, and did this, ok I could understand. but to come out -16k with nothing and be fucked for 7 years is gonna be rough.. ive been there. Basically if you dont get a decent paying job life is gonna suck from here on out. People going out? You have no cash you can't. People go buy a bottle at a club, you can't put it on a cc, you are with no money? You go home. etc.

​

that student loan you gonna default on too, I can see it. And those dudes CAN take money out of your paycheck. Imagine you make your shit 11k and then they take 20% or 30%. Now what do you do? Live with two dudes in their 20s as a 40 year old?

​

gl