Dear Credit Card Adviser,
I heard that closing a credit card has a negative effect on the FICO score and have read your thread. My question is two parts: If I cancel a credit card that has never been activated, does this affect my FICO score? What about canceling a credit card that was unsolicited and sent to me (and) that was never activated? Thanks for your help.
— Elliot
Dear
Dear Bankruptcy Adviser,
Life happens. I am separated from my wife but continue to pay for her car (it’s in my name, too) and support for my son. Our house got foreclosed on Jan. 2. I haven’t paid a credit card bill in over four months. I probably have around $40,000 in credit card debt. I make good money. I have told credit card companies I couldn’t pay and got a “too bad” kind of response, so I’ve been ignoring (more…)