and they sent me something from an attorney saying i have 30 days to pay the full balance. i cant pay it. what will they do to me? will they put me in jail? or court?
2006-11-06 08:34:20 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
They will put it as a delinquincy on your credit report. If you don't have it in full it is best to pay some of it or whatever you can spare. You don't want neg credit. Trust me because it's hard to pick it back up. Good luck. Oh and if they could put you in jail for credit card payments not being made then half of the country would be in there.LOL
2006-11-06 08:37:16 · answer #1 · answered by i have a taste for waffles 3 · 0⤊ 0⤋
From my past experience, the companies send lots of threatening letters to you trying to get their money. If it goes long enough they will assign it to a collections agency. Legally as far as I know they can't take you to jail, depending on the situation they may garnish your wages or take you to court. I have had some companies send letters for an "attorney's office" but that's just a load of crap, they just try to scare you enough to where you will pay it. Sometimes you might be able to work out a payment plan with them and set it up on monthly payments, that depends on the company. Hope that helps alittle
2006-11-06 08:39:45 · answer #2 · answered by jetta_man83 1 · 0⤊ 0⤋
There's no more debtor's prison, but they can ruin your credit, which will make it almost impossible to get more credit in the future. Call them and see if you can work out a payment plan. Most of the time they want to work with you so they dont have to pay the lawyers.
2006-11-06 08:40:58 · answer #3 · answered by Annette J 4 · 0⤊ 0⤋
get in contact with them tomorrow and arrange a payment schedule.
OR, go thru a credit counseling service. you make 1 payment to them and they make the payments for you. a lot of the time the cc companies will lower your interest rate and after a few months of payments stop charging you late fees.
I am doing this myself with Care One.
2006-11-06 09:19:13 · answer #4 · answered by ? 6 · 0⤊ 0⤋
First, visit the FTC and learn what your rights are, then call the credit card company, and make some arrangements to make payments. The credit card company can report on your credit report, but you need to know your rights before trying to deal with this company. http://www.ftc.gov/bcp/conline/edcams/credit/coninfo.htm
2006-11-06 09:23:35 · answer #5 · answered by Anonymous · 0⤊ 0⤋