You may attempt to eliminate the debts with letters, but the creditors may or may not cancel the debts based on your letters. In my experience, they normally do not cancel debts based on letters, but they might in your case. The reason they do not normally cancel the debts is because they would rather keep the debt in tact in case you come in to some money that they can attempt to go after (insurance settlement, lottery, wages
, etc), or, so they can sell your debt to collection agencies
and make at least some
money off of it.
Realistically, you may be judgment proof and there may not be a need to file bankruptcy even if they won't cancel the debts, but it still may be worth filing Chapter 7 just to stop the calls, collection attempts, and possible lawsuits.
If you are not judgment proof, then Chapter 7 may be a good option. Judgment proof means you have no income or assets the creditors can go after to get paid, such as garnishable wages, real estate, etc.
Many bankruptcy attorney offer free consultations, so it may be worth visiting one to see if your retirement is garnishable, etc.
I hope this helps and a positive feedback is always appreciated if this was useful to you.LEGAL NOTICE: I am only licensed to practice law in certain state(s) and I cannot give legal advice to someone who does not reside in a state in which I am licensed, nor shall anything I say in the above answer or elsewhere on this site be deemed legal advice, even to someone who resides in a state in which I am licensed. Fees I receive for answering questions are paid for information, not for legal advice. This forum is designed to provide general information only, and information herein is not warranted to be correct or applicable in any way since laws may have been misinterpreted herein, since laws change from time to time, and since the impact of those laws on any particular situation varies. The information presented in this site shall not be construed to be formal legal advice nor the formation of an attorney-client relationship. Persons accessing this response are encouraged to seek independent legal counsel in their jurisdiction for guidance regarding their individual circumstances. Do not take any action or inaction based on information presented herein since it is informational and may not be accurate or applicable to you; it merely attempts to give you a basis of knowledge to help you formulate questions to ask a legal or other professional in a face-to-face meeting in your jurisdiction. Joseph Ross does not hold himself out to be a specialist or expert in any area, regardless of assertions made by any third party, and any implication of being an expert or specialist herein is made in error. I hope the information presented above is useful to you. Answer above is (c) Joseph Ross. All rights reserved.