(usaa) can you be put in jail for debt? wat the worse they can do
2006-11-16 11:47:18 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
its on my credit its the only bad thing.
2006-11-16 11:54:10 · update #1
you don't want to take bankruptcy for $1500.00 if you want to try to pay call them make a deal if they don't go for it they can take you to court probably won't for $1500.00 if you don't want to pay the status will run out 5-7 years it will come off your credit report by law,but you must know how to do it.
2006-11-16 14:04:03 · answer #1 · answered by moonwalker 3 · 0⤊ 0⤋
first of all, you cannot be put in jail for owing money on a credit card (not unless you committed fraud).
the worse thing that can happen is that you could declare bankruptcy. you will have to be eligible and it must be approved by a bankruptcy court. filing for bankruptcy will remain on your credit report for 10 years.
2006-11-16 20:03:53 · answer #2 · answered by loveholio 5 · 0⤊ 0⤋
They can report you to the bureaus (which they probably already have). Until the statute of limitations expires for your debt in the state you live in, they can sue you (and garnish your wages if the court sides with them).
2006-11-16 20:15:03 · answer #3 · answered by Mariposa 7 · 0⤊ 0⤋
There is no longer a debtors prison in the USA they can report you to the credit agency
2006-11-16 19:53:05 · answer #4 · answered by bbbandit 2 · 0⤊ 0⤋
you can file chapter 7 bankruptcy:
Information on Chapter 7 Bankrupt
http://get-out-of-the-debt-trap.com/category/Information-on-Chapter-7-Bankrupt.html
2006-11-17 04:34:56 · answer #5 · answered by Anonymous · 0⤊ 0⤋