Kandy
 |
Did you have payment protection? They could help. They will pay the monthly in cases such as loss of job, disability...etc
They help broke as$ ppl. |
|
acermill
 |
Of course they can sue you for what you owe, and they generally win. When you have no money, you tolerate having a civil judgment lodged against you and having your credit file wrecked. After that, you tolerate multi-daily calls from collection agencies once they turn it over to such a firm. |
|
AnnaG
|
See a debt specialist. The credit card company will hire an attorney, thats what happened to me and I made payment arrangements..It took like 6 months to pay it off but i finaly did..Good luck |
|
hirebookkeeper
|
When they find out you have a job, they will garnish your wages. |
|
wizjp
|
Yes they can; and if they win they can tack the costs onto the bill you are paying. IN some states they can garnish wages; some allow bank accounts to be attached; all permit a lien to be filed on your current property and in many states, against future aquired property to force payment before sale, purchace or re-fi.
Try and work it out before it gets to that point. |
|
Sal*UK
 |
Of course. You have spent THEIR money!
Talk to them - make an offer to pay as much as you can weekly, or monthly and stick to it. Good luck. |
|
Vanessa
|
Never get a debt consolation loan. Keep the amounts in each account as small as possible. I am an accountant.
They cannot take your stuff if the amounts are small do you know what it costs to hire a lawyer? would they do that for a small amount? Never.
Get the loan off your house if that is not possible make sure you make your home loan. They can take the car if it is a car loan. Some have borrowed on multiple cards to be able to keep the house. Keep each amount low on each card.
When you cannot borrow to make payments any more file bankruptcy and they will usually let you keep your house.
Also, the car because you need it to go to work.
This is the mistake a lot of people make:
They borrow on the house to pay off MD bills. The medical bills won't do anything to you. But the bank will take your house or car. Never borrow to pay medical bills.
You always get a better deal from hospitals and doctors.
Many times interest free loans. No bank will do that.
We think by putting the bills together we get a better deal.
NO, that just isn't true.
Think? If you were a bank and these people owed 4000.
Attorney fees can run into the thousands of dollars would you sue and keep an attorney on the case for a long time?
What if the total was 40,000. in one lump sum?
You bettcha they are going to come after you.
divide and conquer. |
|
wish I were
 |
Yes they do. You go and get a job or two and work your butt off to pay it off!!! |
|
ticktock (9 days to go)
|
First, try to get a debt consolidation loan.
But, if that doesn't help, then yes, they can sue you.
Sorry, the only way out is to file bankruptcy. |
|
Their Mom♥
|
yes, credit card companies can sue you for what you owe. I was almost sued for $700. i hit some hard times and them folks wanted their money. if you have no money to settle with them, then i am afraid you are more likely going to be sued. sucks, doesn't it. if you are a student, take out a student loan and pay them off, that is really your best bet. you could also contact a debt consolidation company, but i think once legal actions have been taken you either pay the debt in full or see them in court.
Sorry. Good Luck. |
|
JB
|
The odds are they won't, but the reality is they can. According to the Fair Debt Collection Practices Act they must:
811. Legal actions by debt collectors [15 USC 1692i]
(a) Any debt collector who brings any legal action on a debt against any consumer shall --
(1) in the case of an action to enforce an interest in real property securing the consumer's obligation, bring such action only in a judicial district or similar legal entity in which such real property is located; or
(2) in the case of an action not described in paragraph (1), bring such action only in the judicial district or similar legal entity --
(A) in which such consumer signed the contract sued upon; or
(B) in which such consumer resides at the commencement of the action.
They can get a ruling against you for the debt owed, and they can garnish your wages. They odds are they won't.
Get yourself on a written budget. It's amazing the money everyone wastes. Budget for necessities first. Paying a credit card company is not in that class. Use the money left over to pay them something.
Make sure you never ever give the credit card company direct access to your bank account and never send them post dated checks. They will clean you out.
Also, get familiar with the Fair Debt Collections Practices Act so you no your rights in this matter. Collectors first job is to collect anything they can from you and they will say anything to do it. They will harass you and intimidate you. Both of which violate federal law.
Give them a call and try to make a deal. Offer them something.
Consolidation loans will get them off your back, maybe, but you will end up paying more. Try to handle this yourself before considering consolidation loans or bankruptcy |
|
mother_amethyst
|
Most of them have a hardship plan they will put you on for a year. You make tiny payments and they don't charge any fees (late, over limit, etc) in that time. They do charge interest though. it may take some persistence to convince them to admit the existence of the program. Good luck. |
|
open thoughts
|
Yes, they can and will. Anyone who tells you that they will not is full of crap. They will sue, win, and start putting liens on your property.
Only 2 ways you can fix it...
1. Call them and make payment arrangements. They may work with you if you are up front and do not set up arrangements and fail again.
2. Bankruptcy.
AVOID PLACES LIKE CONSUMER CREDIT COUNSELING! THEY MESS UP YOUR CREDIT FOR LONGER THAN A BANKRUPTCY! |
|
missbeauty4eva
|
Yes they can and they will take you to court. Consolidate and find a job to pay them. |
|
A.Mercer
 |
Yes they can sue you. However, that is a pretty extreme reaction. You would have to owe a lot of money for that to be the case. Messing up your credit is an option and hounding you is another but they do have the right to sue you if they want. You agreed to pay them back and now you are not paying them back. How in the world could you believe that they could not sue you?
If you have no money and they sue and win then it depends on what state you live in. Some states will allow a garnishment of your wages to pay the settlement. Others do not. If you have no money, then bankruptcy is not really an option. You need money to do that. Sort of a catch-22 if you ask me. Your best bet is to work out some sort of arrangement with the credit card company. Pay them as much as you can and get back on track. |
|
Just_gone
|
No. They screw up your credit. |
|
mandie s
 |
You should not use credit if you do not have a plan to pay it back! Just send anything you can afford! And get another job! |
|
illuminati_sinner
|
they will not sue.. but the consequences, you will be blacklisted to other credit card company.. |
|
♥Nicole
 |
yepp, Ebony, they can. |
|
fab1
 |
Transfer what you owe onto another credit card with a lower interst rate, make payments then close your current account. A lot of times credit card co.s want your businsess and will give you 0% interest when you transfer your due balance. You also have the right to waive the transfer fee the new credit card co will try to charge you -(check out Oprah's "debt diet" for resources) & call one of those non-profit credit helplines where they can work something out with the credit card co-to keep em off your back and keep your credit clean. |
|
MrOrph
|
Well, you could file bankruptcy but that isn't really taking responsibility.
They will work with you and organizations like Consumer Credit Counseling Service.
Look into credit counseling and don't get sued, you'll regret that for a good while. |
|
alyssa
|
They can sue you and ruin your credit but that is about all they can do. Unless you owe over 2000.
I remember when there was this lady who got hurt and she owed a mortage on their house. She couldn't work so they told her to get several credit cards while her credit was still good. Then she paid off her house with several cards not putting over 2000 on each card. Those are unsecured loans.
So they didn't loose their home. It was paid off and free and clear. The credit card companys can't take stuff and won't try for 2000 dollars. But if you own say 6 or 10,000 on your home they can take that even if it is worth much more.
the bank repossesses it and with charges and stuff they end up with the house. Car loans have the car as security.
But you can get loans that don't have any thing for security. |
|
Kev
|
scotland has different laws, or declare yourself as bankrupt or get aloan from another bank,then pay that with another loan,and so on and so forth, if you do that till the day you die you'll never need to pay it off ! |
|
bostredsox33
|
Bankrupcy my friend, and then your credit is screwed for life. |
|
Piojita
|
No. But you can make arrangements of a small amount of money on a monthly payments and send a letter to the credit bureaus. |
|
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
