I'm especially interested in credit card debts, but any debt type will do. Please provide details, such as amount, type of creditor (bank, credit card, collection agency...no names), and what happened.
2006-07-03 13:21:33 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
I'm not in bad standing with any creditors now. I was in the past, for significant amounts of money. Without paying a dime, they fell off of my credit report. Because of my experience, I didn't think that they actually took people to court.
My debts were major and department store credit cards (about $9000 total), 2 bank loans ($3000), and utilities in various states ($2000).
I guess I got away scott free. My credit is perfect now.
2006-07-03 14:31:28 · update #1
Yea, I owed a credit card (wachovia, IIRC) about $1900 in 98 or 99, I was sued in 2000 or so, they got their judgement (for $3000+), and in early 2002 they executed and garnished my wages, I filed chapter 7 within a week, got rid of them all... Now, life is good. I don't borrow money anymore, and I have complete financial peace..
By the way, they got 1 paycheck garnished before the 7 was filed and sent to my payroll dept... Remember, they can only take 25% of your net when you're being garnished.
2006-07-03 13:36:07 · answer #1 · answered by kvuo 4 · 2⤊ 0⤋
I am currently in the same situation as you were. I got a letter from the collection agency about an arbitration hearing to pay off my debt to the credit card company. How long did it take for your credit to get better? I know that I have a judgement on my credit report as a result of this. Did you have that as well?
staygold914@aol.com
2006-07-04 20:15:27 · answer #2 · answered by staygold914 1 · 0⤊ 0⤋
Yes, I have been, but you don't have to go to court because you will just lose by default and have to pay anyways.
When I was 18 i got a kaufmanns card for a $300 line of credit, and on the day of court, they sued me for $938.56.
If you dont set up arraingments, they may garnish your wages though.
2006-07-03 20:28:58 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I was sued by an automobile loan company for $3000 about 10 years ago. I didn't go to court, they got a default judgement and garnished my wages.
2006-07-03 20:27:03 · answer #4 · answered by call_me_t 2 · 0⤊ 0⤋
Yes if you got served they are going to take you to court and get a judgement and be taking a nice little chunk of your check
Good Luck
2006-07-03 21:20:26 · answer #5 · answered by baseballjedi 3 · 0⤊ 0⤋
I have a co-worker that got sued. Her debt was not that much. She was served papers by an officer.
2006-07-03 20:26:01 · answer #6 · answered by Ratzrcute 3 · 0⤊ 0⤋