I live outside the USA - Should I settle my bad debt?

[jmac711]

I have lived outside of the US for almost 4 years now and have no tax obligations or income in the States for this time. Last year I found myself unable to pay my credit card debt which was between 5 accounts totaling about 50k. Up to that point I had perfect credit and payed as agreed every month with never even a late payment.

 

My accounts went into default in April-August of 2008.

 

I do regret and feel bad about not being able to pay but my situation at the time did not allow me to pay my cards.

 

My question is should I send letters and try to settle this debt or should I just let it go?

[radi8]

My question is should I send letters and try to settle this debt or should I just let it go?

 

Depends on how you feel about having judgments waiting when you return, or lawsuits filed. Out of country probably tolls the SOL.

It's really something you have to decide for yourself based on your financial situation. If you are able to settle them, why would you not?