2006-07-24 13:00:20 · 9 answers · asked by Derrick G 2 in Business & Finance ➔ Credit
Most likely, unless you have substantial assets they WON`T take you to court. There are many ways to avoid collection agencies. Change your phone number, instruct family and friends not to disclose any information as to your wherabouts, don`t apply for ANY credit. If they don`t have your current phone or work number they can`t get it from your credit report. Depending on the state you live in, the statute of limitations could be as little as 3 years. After that time they CANNOT win if they decide to take you to court. HAVE PROOF, and NEVER admit to any debt, or make any payment, if they do contact you. This will reset the SOL. Not everyone has unlimited funds, and anyone can fall on hard times. More power to you if you can file bankruptcy and then purchase a home! Maybe our government should start collecting on these deadbeat nations that owe us BILLIONS of dollars, and use some of it to help our own less fortunate.
2006-07-24 14:47:00 · answer #1 · answered by RSR 1 · 0⤊ 0⤋
possibly, the judge might also order the sheriff to seize the persons property and sell it to pay off the debt, bank accounts can be seized and wages garnisheed(means his boss gives you that persons paycheck till you are paid back), you can even go after money they tried to hide by giving to relatives or investing in businesses if you can show they are trying to evade debt. If you can show that it is deliberate you might be able to charge them with fraud, like in Enron case( I don't think that will ever be solved).
2006-07-24 20:10:36 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You want to know unfair???
Seeing someone who owes $50,000 in credit card debts file for bankruptcy, and 3 days after they put down $10,000 down payment on a new home, purchase a new car and a 40" TV!
That is how the game is played, I guess. Those who know how to play the cards win...
But in your case, justice is watching them cry when their wages get garnished.
2006-07-24 20:46:42 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Your creditors will go to court an secure a judgment against you. The court can them seize your assets to pay the debt. If your bank account is suddenly empty, you know why.
2006-07-24 20:07:58 · answer #4 · answered by STEVEN F 7 · 0⤊ 0⤋
debt consolidation
getting out of debt is pretty easy with a debt consolidation plan
however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is:
http://umgarticles.atspace.com/debt-consolidation.htm
2006-07-25 06:51:47 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The judge can take it out of your paycheck, if you have a house or car, they can take that. They can even arrest you for fraud.
If the person has the money, but they don't want to pay the debt, if the debt is huge, they can file for bankrupty.
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2006-07-24 21:52:00 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Won't go to jail. Will get paycheck garnished or worse.
2006-07-24 20:06:04 · answer #7 · answered by PMS 24-7 3 · 0⤊ 0⤋
Collection agencies will make ur life hell..dont do that
2006-07-24 20:03:29 · answer #8 · answered by Tapan 4 · 0⤊ 0⤋
no. you are talking about debtors prison and there is no such thing any more.
2006-07-24 20:06:51 · answer #9 · answered by dennis 2 · 0⤊ 0⤋