[Jabbles]

Now that you are back on your feet, have you considered declaring bankruptcy or defaulting on the credit cards? It'll ruin your credit and stress you out, but saving $70K while building a $6K a month nest-egg seems worth considering.

Maybe he thinks he is part of a society larger than just himself, perhaps he has some kind of moral framework, some notion of wrongness, or some self-respect that would stop him from reneging on his promises.

Not to mention that declaring yourself bankrupt when you have such a good income is almost certainly illegal.

[leif]

With the immoral practices of most credit card companies once you're in such deep debt, defaulting almost seems more than fair.

Morals work two ways.

[shareme]

Not to mention declaring bankruptcy with a high steady income guarantees that judge/trustee will not rule in favor of walking away from debts. The most that will happen is a longer payment time on some of those debts.

[hugh3]

Yeah. I'm no bankruptcy law expert, but I'm pretty sure you have to show that you can't possibly pay back your debts, not just throw up your hands and say "Whoops, bankrupt! Can't possibly pay back the debt I'm currently paying back at $6K a month!"

[rphlx]

Unless you're Donald Trump!