So what can "they" do to me if I quit paying my credit cards in the state of Tx?

Question

do to the fact i can no longer afford to pay them.

not that i want to quit. I borrowed the money by using the credit card therefore i should pay it back. but things happen in life, especially when it comes to your finances, where its either feed your family or pay your credit cards and frankly I am not willing to let my babies starve. So I need to know what can "they" do to you in TEXAS. please every state is different. the laws are different. what might happen to me in another state for not paying may not happen to me in Tx. So if you dont know about Tx then dont answer because your confusing me.

Answer 1

In Texas, I'm pretty sure they can execute you...

Answer 2

.. Let's see I was sued, I lost, they put a lein on my home after they won the judgement. When I sold the home I had to pay the lein off as part of house closing. The lein amount was almost $2000 more than I had owed the Credit card to being with. (legal fees, and accrued interest) (in Texas)

If you have not already missed payments or gone to collections, and you know you would not be able to keep paying on what you have as an outstanding balance, then I suggest doing the following.

Call or WRITE (documentation is best) your CC company and talk to the collections department, and tell them you are experiencing financial trouble. Tell them you WANT to pay them, but you cannot pay them the full amount, and you want to suspend charging on the account.

This shows them you are being responsible and will hopefully get them on your side. Try to work out either a payment plan, or a lump sum payoff. If you get a payment plan, get a NO interest one. (they can do this, and will if they think they will get all the money) If you get a payoff amount, then bargain as low as you can get, but be sure it counts as a full payoff in the books, otherwise they can sell the portion of debt you didn't pay to a debt collector. It is work but you can get a CC company to agree to payoffs far below what you actually owed.

If they donot seem willing to help you, then make the same offers after you miss a payment and see what kind of response you get.

No matter what offers you discuss over the phone, DOCUMENT everything in writing before you pay anything.

Answer 3

Ok, now for a REAL answer.

If you stop paying your credit cards, you may eventually be sued. If you owe Discover or Citibank you can almost count on being sued not long after the debt is charged off.

IF they sue you and win a judgment against you, they can:
- NOT garnish your wages, not in TX
- sieze your bank account(s) - cash in banks are prime targets
- sieze any non-exempt assets and sell them
- NOT place a lien on homesteaded property

The problem is, it is not what you have (or don't have) today that matters, it's what you might acquire in the years to come that they will wait for if you have nothing now.

Judgments in TX can be renewed indefinitely, so they could literally follow you to your grave. During that time they can keep coming after you for any assets you have. They can keep dragging you into court for debtor's exams where you will be required to reveal all of your financial information.

Not paying your debt is NOT a crime - it's a civil matter, therefore it is not theft.

Answer 4

Man, there are some real jerks on here (that didn't take long). Yes, u r evil for not being able to pay ur CC debt (j/k). Those poor multinational conglomerates being picked-on by the little guy (tisk, tisk). Keep voting republican kids!

Best short answer: Follow the advice of some of the saner ppl on here and at least consider talking to a credit counseling service or the CC company directly first.

Answer 5

Besides hounding you to death they will report you to consumer services and it will screw up your credit for years. Your best bet would be to find one of the companies that help you pay a certain amount each month. They work with the credit card companies to help you and a lot of time can get your debts reduced by 30 - 40 percent. But you cant use any type of credit card during that time. When i got divorced I let my ex keep the car cus she swore she would make the payments and I believed her. Guess what ?..lol...She didn't and because the car was in my name I ended up with a repo on my credit. For 2 years they hounded me to pay for a car I didn't have and I told them no way unless I got the car back. They said it had been sold at auction and had only got 1200.00 dollars for a 18 month old car. What a crock...and they wanted me to pay the remaining 9000.00. I talked with the company ( damn i wish i could remember their name ) and they got it reduced to 2700.00. I paid that just to keep my credit good. Call someone that specializes in bankruptcy and things like that for help.

Answer 6

They can put liens against the items you do already own, such as your house, your car, your bank account and reposess them for payment of what you owe. Also, if you owe more than one creditor and are not paying the creditors can get together and force you into an involuntary bankruptcy in the bankruptcy court because you are not paying.

Answer 7

Your credit will turn to $hit. They would have bill collectors call your house. You could try talking to them about some kind of deferment program, my credit card company has one.

Answer 8

Destroy your credit rating, put a judgment against anything you own, garnish your wages.

Answer 9

Reposses your life, you mind as well declare bankruptcy

Answer 10

You suck, you shouldnt have run them up then. people like you should be sent to jail, just like anyone else who steals, thats what it is stealing!!!