A friend has over $40,000 on his Wells Fargo credi

A friend has over $40,000 on his Wells Fargo credit card. He has been paying the interest for years now but is finally at the end of his financial rope. No job for four years and dealing with ever worsening addiction issues. No income, no prospects, no hope. Will the major banks walk away from such big debts, especially, as in this case, if the debtor (for now) owns his own home with some equity left? I would think it likely they would spend the money to get a judgment and file it on the land records. Any thoughts?

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Nah, wells will not walk away from $40k...not with mortgage on the books.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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