2006-08-15 08:16:18 · 9 answers · asked by violetoviolet 1 in Business & Finance ➔ Credit
yep!
It is a risk, i have seen people with 10k in credit card debt that got away without being sued. and people owing little as 200 bucks that end up getting sued. I assume you know someone or yourself that had debt problems... Your credit is trashed and it will cost you lots of $ that way. Now for a most credit card companies pass it over to collectors and they buy them for little money. Now if the collection agency's sees that you have a good income and assets they will more than likely persue a suit. But if they see that you are a job hopper, no assets it is not worth there while. It costs them lots of $$. for you answer include more details for some of the people to get a better understanding this situation you are in and they will give you sound advice.
2006-08-15 08:30:59 · answer #1 · answered by sarah a 2 · 0⤊ 0⤋
Yes, but unless you owe a significant amount, it ends up not being worth their while. So they just badger you for the rest of your life and ruin your credit score so you are not able to borrow ever again!
If you want to fix the problem, call them up. Most the time they will settle with you for the amount owed when you became delinquent--getting rid of all those late fees and compiled interest.
2006-08-15 08:35:46 · answer #2 · answered by trix 3 · 0⤊ 0⤋
Why not? If it is legitimate debt owed by the individual, the person is obligated to pay back. If not, the creditor can go after you through legal actions.
Hope this helps.
2006-08-15 08:22:20 · answer #3 · answered by WiseJ 2 · 0⤊ 0⤋
They can legally sue as long as you are still within the statute of limitations (SOL), in your state, for collecting the debt.
They may sue even if a person is out of the legal SOL. They do that, and many times win, because many people are uninformed about their rights.
2006-08-15 11:05:09 · answer #4 · answered by echo 7 · 0⤊ 0⤋
Yes, but only if a lawyer in your area has purchased your account from that company and has given you a chance to appear in court with a summons. It happened to me last August in Mississippi
2006-08-15 08:24:49 · answer #5 · answered by Math T 1 · 0⤊ 0⤋
YES, they will send you notices if you dont pay. if you still dont pay, they will start calling you, and eventually turn you over to a collection agency. the collection agency may garnish your wages and if you still dont pay, they can take you to court and ruin your credit. so PAY YOUR BILLS. also, if you declare bankruptcy on a credit card debt you still have to pay it back later.
2006-08-15 08:30:26 · answer #6 · answered by firedragon729 2 · 0⤊ 0⤋
Well....you could be...it is just like owing money to anything else...you have to pay...plus if you don't pay...your credit will go to hell and you will have a hard time getting a loan for anything....just pay your bills...and if you can't afford something then don't buy it.
2006-08-15 08:29:17 · answer #7 · answered by yetti 5 · 0⤊ 0⤋
Well yeah- it doesn't just disappear into the great beyond. When did people start thinking stupid crap like that?
2006-08-15 08:22:49 · answer #8 · answered by korbbec 4 · 0⤊ 0⤋
I am sure they can if you have not pay the bill at all. just don't let it get too big it will be harder to pay then
2006-08-15 08:23:33 · answer #9 · answered by ? 5 · 0⤊ 0⤋
The answer is yes.
2006-08-15 08:57:17 · answer #10 · answered by Sugars 3 · 1⤊ 0⤋