I wanted to ask y’alls advice on my situation. I have about 20k in credit card total debt spanning over 3 financial entities. This was racked up after I graduated college and could only find low paying wage work that barely covered my expenses and I had to supplement w/ debt. At one point, I just said “fuck this! I’m working 3 jobs and taking classes to gain more skills and I can barely hold myself together, it’s not worth the stress and anxiety, so I’m gonna quit and totally rely on credit cards for rent, groceries, utilities etc while I get my nonprofit off the ground”. So I did. A few months later, COVID happened and I had to close and reform my nonprofit which was starting to make a little money but not much.
I’ve been on the rent strike since April (my landlord is a giant property management firm that rakes in hundreds of thousands of dollars a month) and I have no means or intention of paying back-rent, so I’d like to have a backup plan when the likely inevitability of an eviction happens by purchasing an old trailer/camper and making it live-able. With the back-rent debt conflated with my credit card debt, I’m thinking of defaulting on my credit cards but BEFORE I DO SO, I may as well increase the limits (since they’re essentially all maxed out) and get this trailer figured out so that I have a place to live, right? I’ve been paying all my cards on time while I think about what to do, so as far as I know I’m not on their radar for default yet.
I’m not sure what my credit score is… one entity says 666 and another says 605, so I’m not sure I’ll be accepted to other credit cards/banks if I were to apply, which is why I was thinking increasing the limits on existing cards would be the way to go.
To sum up, I don’t care about my credit score and think the financial sector is bloodthirsty so I don’t believe this plan is unethical, ESPECIALLY because the debt is from necessary expenses and I’d like to have shelter in the event of an eviction… which is an absolute right. I’d love to hear what you think and if you have any recommendations for the best way to do this. Thanks so much