At what dollar amount do they consider it worth their time and expense to seek legal action?
Do have experience in such a matter?
2006-10-27 05:27:55 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
Depends on who it is.
I have seen some creditors sue for as little as $100
Some accounts that are over 50k never do squat
This may help
http://www.expert-credit-advice.com/learn_about_judgements.htm
2006-10-27 05:37:15 · answer #1 · answered by Anonymous · 1⤊ 0⤋
I love people that are ignorant when they don't have the entire facts about someone's financial situation! To answer your question, it depends on the company how long they wait to send it to collections. Some will do it over $80 some will wait until it hits thousands and you become delinquent on the account. If it hasn't gone to collections you need to call you card company to discuss repayment. If it has, you need to contact the card company to discuss it. Generally when it goes to collections, within a month or so the collection company will take you to court. Consult a financial advisor/debt consolidation agency or a bankrupt lawyer. Don't ignore it, it won't go away, make the needed calls immediately and good luck.
2006-10-27 05:33:18 · answer #2 · answered by Anonymous · 1⤊ 1⤋
It really depends on the collection agency. If they are a small, local outfit, $500 and up could be lucrative for them to pursue. For a larger agency, this is childs play.
The bad news is that if the amount of money was worth a collection agency agreeing to take on the case, it's most likely worth escalating to higher levels, as most debtors are immune to collection agency threats.
2006-10-27 05:31:42 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Do you know what a credit report is? Well, when you go to lease an apartment, buy a car, buy a house, they look at your credit report. Not paying your credit card or a bill will almost always get reported and hurt your chances for getting a good deal later.
PAY YOUR BILLS, even a cent.
2006-10-27 05:45:03 · answer #4 · answered by volleyjacket 3 · 0⤊ 0⤋
in our country, credit card companies can't sue us for not paying our debts on time, or not even paying at all. they just harrass their clients by using law firms to send those in debt legal notices, to no avail.
2006-10-27 05:36:49 · answer #5 · answered by ian 1 · 0⤊ 0⤋
depends on the company and what the perceive that you have in sell-able assets
2006-10-27 05:30:53 · answer #6 · answered by Pobept 6 · 0⤊ 0⤋
You wouldn't have to worry about it if you would PAY YOUR DAMN BILLS!
2006-10-27 05:29:40 · answer #7 · answered by wish I were 6 · 1⤊ 3⤋