i had a credit card that i was paying on the company lost their financing and now they want payment in full,the reason for me stopping is that they won't accept anything. Now recently i've been through two major surgeries and have not been cleared to work anywhere what to do?
2006-09-26 05:22:35 · 10 answers · asked by diamond girl36 2 in Business & Finance ➔ Personal Finance
1. Contact the creditor, and tell them that you may have to file bankruptcy, unless they will work with you.
2. If they say no, then see a bankruptcy attorney ASAP, or the creditor could get a judgement and seize any assets they can find.
If you are piling up big medical debts, with no income, you may be heading for bankruptcy anyway. The sooner you deal with it, the better.
2006-09-26 05:24:24 · answer #1 · answered by Jim 5 · 3⤊ 1⤋
Don't fret. Have they served you with a summons yet? I would still keep sending them payments. Bring copies of the cancelled checks with you to Court to prove that you've been making a good faith effort to repay the debt. If you wind up having to go to Court, bring a note from the doctor stating that you are not cleared to work yet and ask the judge for a moratorium, that is, a temporary reprieve from having to pay on the debt. I think they should be able to grant you six months to get back on your feet. If you are unable to make any progress on the job front, bankruptcy may be a your only out. You might also try Consumer Credit Counseling, which is a not-for-profit organization (so it's not a rip off), but you would need to be able to pay a certain percentage of your pay towards your debts. May be worth getting a consultation. Good luck.
2006-09-26 05:30:45 · answer #2 · answered by babalu2 5 · 0⤊ 0⤋
It's not a big deal, when you are in court tell the judge that you want to pay but you don't have any money, they won't do anything to you, because it credit card companies fault that they gave you a credit and trusted you, they can't do anything to you, just kiss your as.s
"or the creditor could get a judgement and seize any assets they can find."
they can't seize sh.hit it's not a mortgage or car financing, it's a credit card, learn how to spell first
2006-09-26 05:27:11 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Send them a small cheque of whatever you can afford with a simple basic dated letter stating : -
"Please accept this payment as full and final settlement of my account"
- If they cash it then in law they are deemed to have accepted your terms and that's the end of the debt.
That's the law in UK and I also think same applies in US - Technically its a contract that you propose and they accept by taking the money.
Most clerks in credit card companies just open letters and send the cheques for lodging without looking. But keep photo copies of everything. Bet they cash the cheque !!!!
If they return the cheque then you should write to them telling your whole story and no court will judge against you unreasonably. Do Chapter 11 thing as insurance.
Remember credit cards charge horrendous interest to cover such losses so their system is to be rough and tough but they will back down quickly in the end.
"Bank" is another word for "Pawn Broker" - Same deal, same terms
2006-09-26 05:44:07 · answer #4 · answered by TD 2 · 0⤊ 0⤋
Make sure you go to court and don't be late.Take all your receipts and any documentation of the loan with you.Answer all questions as throughly as you can and don't volunteer any info that's not requested.The loan company can't do any thing that isn't stated in the original loan agreement.There's something called the consumers protection act that watches out for people.Don't let em intimidate you.Everything will work out.
2006-09-26 05:29:26 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Go to the court and explain the health situation BRING PROOF, and mostlikely the court will make some type of payment arrangement.
2006-09-26 05:25:06 · answer #6 · answered by nileri_1 2 · 1⤊ 0⤋
That's rough you should file for bankruptcy chapter 11-14
2006-09-26 05:25:16 · answer #7 · answered by Anonymous · 0⤊ 0⤋
see if they will settle, many times they will take less than 100% to settle and stay out of court, of course if they do you need to be able to pay the sum. otherwise go to court & explain your situation to the judge & hope for the best, good luck.
2006-09-26 05:26:21 · answer #8 · answered by Anonymous · 0⤊ 0⤋
tell them to kiss it! they cant get what you dont have.
2006-09-26 05:24:38 · answer #9 · answered by imalickyouallover69 5 · 0⤊ 1⤋
What is your question?
2006-09-26 05:25:47 · answer #10 · answered by pirateron 5 · 0⤊ 1⤋