Knee Deep In Old Credit Card Debt & My Current Credit Raiting Is Bottom Low High Risk. Any Help If I Cant Pay?

Allow Me To Explain How I Went From A Spending Spree To Knee Deep Bills. When I turned 21, I inherrited some 40k and went into a spending spree over some years. I thought smart to devide the funds up and put them into long term CD's. It took 3yrs to spend all that cash. My credit score and credit limit sky rocketed up. My first credit card was for 1k. Others had followed. The big ones was for a VI 4,500 credit limit and another for MC 4,500 credit limit -Both from the same issuing bank. I was foolish to merge them together thinking it would be easier to pay just one. But, I felt great having a credit card with a limit of 10k. The spending was fun and I spent a lot on the girls, car rentals, hotels, trips, airfairs, and little things. I was foolish not to invest in something that would make it worth it. I thought I could just pay them, but I used the CD's to go thru college. Now Debt. A student, no job, no way to pay them. Now 10 Years later - I have a children feeling my debt. NO $$!

Okay. So I get out of college without a degree and no future career offers. I blew college with all the partying I spent the cash on. After I left college I started working, by that time the credit cards were either defaulted or way to high for minimal payments. Iwent form job to job and got better in the things I did, I got good enough in the work fields that I lan ded a great career and started making extreme large payments from the Credit Card company itself. Although I was making good to PAY on this debt, the computer and tech companies in Houston Texas, vanished when Enron collapsed. I lost my job and had to look for other means to survive. Couldnt continue paying and went into more Debt. Now That I Am In Debt. I Want Out Of It! I have a stable career, however, $ only pays the bills. I want to get a house, but no one will touch me due to bad credit. I fear Bankruptcy is the only way out. I was thinking of Settlements. But its been 10 Years! No $ To Pay Settlements. A Way Out??

Get over the idea of spending money to make you feel good.
I was in the exact same boat as you - the exact same.
It takes discipline - not like a bad diet where youre "good good good then blow it" - real disicpline.
And look at this...
http://www.daveramsey.com
It can be done.

Good Luck

You can get a 2nd job and all of that money goes onto your credit card debt.