In article <ee5f5a05.0310211651.19485674[at]posting.google.com> , Barb Me
<newrocksolid444[at]hotmail.com> wrote:

- quote -

You would do well to search the net (using something like Google)
and learn about the bankruptcy process in your state. In general,
there are certain things that they cannot take away. This usually
includes your home, personal items like dishes and clothes, your
primary car, and certain "tools of the trade" that you need to do
your job. There is no way that someone can take away a degree,
and they cannot force your daughter to "un-learn" her college
courses. If you bought any luxury items with the cards, they might
end up on the list of things that have to go back to the store.

The bigger question that I have is why are you and your daughter
living off of credit cards. Do you have the income to support the
payments? Is the daughter working? Is she planning to pay back
some of this money?

-john-

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John A. Weeks III 952-432-2708 john[at]johnweeks.com
Newave Communications http://www.johnweeks.com
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I have a question about credit card debt and what the creditors can
take away from me if I mess up. I paid for a large portion of my
daughter's college education using my credit card and have paid for a
lot of groceries with it, also. Now I am hearing about credit cards
with "security interest" and "debt collateralization" which means that
they can take aways things that I bought with the cards (if it has
this "security interest" on it). My daughter graduated in May and I
would like to know if her degree will be taken away if for some reason
I can no longer make payments or God forbid I have to declare
bankruptcy. Also, how do I find out (discreetly) if my credit card has
this collateralization on it's plan.