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Andrew G | 22 years old and credit card company is taking me to court? |
I was offered several credit cards when I graduated high school and started college at the age of 18. This card in particular offered a $4,000 credit line. I had no job and no savings, so I ended up maxing out the card and had no way to pay them back... 4 years later I have been served with a summons to appear in court... the total amount due with interest is around $7,500.
After the death of my father in high school, I suffered from depression and made a series of bad choices, this being one of them. Do I have any recourse against the credit card company? Why would they offer such a large credit line to an 18-year-old with no job and only credit history being a checking account that I had open for a couple years... plus due to my "mental illness" I obviously was not thinking clearly nor did I understand the true consequences of what I was getting in to.
Is there any possibility that the judge (seeing this type of thing very often... credit card companies targeting college students) would dismiss the case and the debt?
Here is my other question if it is not dismissed... I work full-time and only make enough to pay bills and buy food, so would they be able to garnish my wages? Also, my only asset is my car, which is necessary for me to get back to work... could they liquidate this?
Additional Details
I am not willing to get a second job right now and I don't have enough money left over to make payments after I pay rent, car insurance, and grocery bills. |
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Studly
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Just a quick note to cheesewithyourwhine?....since they don't put notices of garnishments on credit reports, how do you figure they don't go after people for credit card debts?
Do me a favor....locate a local court who has on-line records and do a quick search for court cases from any of the credit card companies or local credit bureaus. Wow! Look at them all! Now look through their records and you will eventually see orders for garnishments or bank liens.
I can assure you that if the debt is big enough, they will sue and they will garnish. And $7000 is right up their for a lawsuit.
OK, to answer this question.....the only recourse you have is the pleasure of seeing all of those banks that were blinding giving away lines of credit go bankrupt. Just look at all the banks currently screaming for a government bailout! All of those loans are doing to default, and they are left holding the bad.....and trying to explain to government auditors why they gave someone with no credit history and no job a $2000 credit card limit. Trust me, they are paying for it.
Unfortunately it's not going to help you if this makes it to court. I have yet to see a judge reduce an amount of debt without a very good reason. Depression isn't one of them.
I'm not coming down on you one bit. You got sucked into easy credit along with millions of other people, and now you are in a hole. But the courts do have to rule fairly.
For now, contact the creditor and see if you can make some sort of settlement. But since you claim to have no money left over to pay the bill, they will not likely work with you.
Once they win their judgment, you can file a motion with the court and request court ordered installment payments. Be prepared to show your income and expenses, and justify your need for it.
Yes, they can and will garnish your wages (if they can find where you work), and/or seize your bank accounts. So work on your motion as soon as possible to prevent them from doing it.
Good luck. |
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cheesewithyourwhine?
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I've been in auto sales and finance for 8 years, I run and analyze credit reports all day, every day. I have NEVER seen anyone that has had their wages garnished or their car taken away as a result of a credit card debt. I'm sure lots of people here are going to tell you that they can do this, but realistically, they won't. They will sue you yes, but most likely, if you don't pay, they will write it off as a loss, which saves them money in taxes at the end of the year. They don't want to collect $50 a paycheck from you for the next 10 years, and they don't want your car... so they will probably choose the writeoff.
Did the credit card company "target" you? Maybe. Is it their fault that you took the offer and then did not pay it back? No. It happens to lots of us (myself included), and ultimately, it is nobody's fault but our own. We acted irresponsibly. Part of being young is making bad decisions. And part of growing up is taking responsibility for those bad decisions. Suck it up, go to court, own up to it and see what the judge says.
Good luck! |
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427 in dog years
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nobody cares about your "mental illness"
call them and work out a payment plan....
there is more to this than what you are telling
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v b
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The law states that once you are 18, ready or not, you can sign legal documents. You signed and took on the legal responsibility of paying back anything you put on that credit card with any associated finance charges. The fact that you shouldn't have gotten the card isn't going to change this.
When this goes to court, it's going to be established that you a) owe and b) haven't paid. The debt collectors will get the judgement against you and can demand that either you pay in full or they garnish your wages. While the law limits the amount they can garnish, the amount that is left is going to shock you. If you want to eat, you are going to have to figure out how to get a second job--whether you want to or not. |
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Bike Beginner
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Ignore the spammers above that are plugging personal sites (their comments will be deleted)
The judge and credit agency are unlikely to forgive the debt unless it should turn up that your bills are the result of extreme medical expenses or similar hardship (and even that would require bankruptcy). Credit bills over the last 4 years that show predominately lifestyle or leasire items (drinks at bars, fashionable clothing and so on) will not help your case.
3 things I would do:
First:
Get the help of a licensed psychologist or physician, if you are not already seeing one. Pleading mental distress with a "self diagnosis" will ony hurt you, as you have no credible facts to back up your condition other than your own words.
Second:
If you are intent on fighting this, get a lawyer. Most will offer some level of consultation on what your options might be, but will not provide significant representation. After talking it over, decide whether it's worth it or not.
Third:
If you don't want to fight it - Call the company. Try to work something out; They might be able to recommend some consultation on how payments can be arranged that satisfy you and them.
If you're a person of good character, the prospects of jail time are minimal. Most likely, you're credit will be ruined for the next few years and you will be put on a debt restructuring plan.
As for your car, bankruptcy laws (if you can succesfully match the requirements) will allow you some relieft to protect posessions (such as your car). But don't take my word for it - Talk to a real lawyer.
Just be honest, don't lie...If you do, you'll only make the situation worse. |
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src50
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You are trying to blame your irresponsible behavior on the credit card lender. You may have been immature, but you were 18 - a legal adult - and responsible for your actions. They will likely secure a court judgment in their favor, which means they can garnish your wages. You will have to make your case with the judge about how much you can afford. |
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Sliteofhand
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Since you know you made the choices then you are responsible.
The judge may take pity on you but you will not get off. He might reduce the debt to some degree.
You can get a 2nd job; and probably pay your debt in a year if you do not spend more than you make.
Bankruptcy is an option but your debt is really small at your age and I would hold that ace in the hole for a bad day such as getting sued or having a business fail. You can only take bankruptcy once every 7 years so if you take it for 7500 and you incur 20,000 later you will have to pay that. |
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∞infiniti∞
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Don't worry too much.
The bill collectors are not going to listen to your sob story no mather how sad it may be. They, may in fact, use it against you.
You have already received the summons to appear in court, therefore you have to answer the summons in order to avoid the debt collector's getting a default judgment against you.
Old credit card debts are often sold and resold to junk debt buyers (JDBs) who buy old debts for pennies on the dollar. They then try to sue you for the face amount plus interest and fees.
At this point, it would be in your best interest to consult a consumer rights attorney who can advise you on how to fight for your rights.
He or she might be able to settle the debt for a fraction of the original amount before going to court.
Also, since old debt are sold and resold numerous times, it is possible that the bill collector does not have the legal right to collect from you. Does he have all the documents needed by law to successfully win a contested lawsuit against you.
One more thing, you didn't say what state you live in. Check your state's statute of limitation (SOL) on open accounts. In some state it could be as little as 3 years. If the debt is outside of SOL, you no longer have a legal obligation to pay the debt.
You would need to answer the summons and fight back, even if the debt is outside of SOL.
Good Luck |
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stephenweinstein
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If the mental illness was severe enough that you were not "mentally competent" to enter into a contract, you might have a case to argue that the credit card agreement is void. Otherwise, no.
They would be able to garnish some of your wages. Not all, not even a majority, but a substantial amount. There is a percentage, but I do not know it. Someone else might post it here. |
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