I have 5 outstanding cards which had not been paid for over 1 year due to my unemployment. All of them are over limit.
2006-12-04 16:41:48 · 11 answers · asked by Fredd 1 in Business & Finance ➔ Credit
No, they don't have debtors jail anymore. You are, however, still responsible for the debt. Get a job, cut up your credit cards and get help from a reliable debt counselor that doesn't charge you any money. Good luck.
2006-12-04 16:53:15 · answer #1 · answered by butrcupps 6 · 2⤊ 0⤋
No, they can't send you to jail. They can garnish wages [ job permitting ] and put a lein and property and/or cars.
They best thing to do, really, is to either file bankruptcy. Granted, yes, it's bad. But it's really not as bad on your credit as people make it out to be. It will be off your report in seven years and you can buy a car or house in three. Your credit is probably already at a point of no return, so you should just wipe it clean and start over.
2006-12-05 00:56:07 · answer #2 · answered by only 32 characters? 2 · 0⤊ 1⤋
no, there is no debtors jail, but they can and will track you down through your job, and ask for a garnishment. Credit cards are usually unsecured credit, meaning they have no hold on your home. Do not refinance your home to pay them off.
2006-12-05 01:23:16 · answer #3 · answered by doris_38133 5 · 0⤊ 0⤋
NO,NO,NO.Actually there is very little credit card companies can do especially if they are unsecured debts.They can take you to court but very seldom do.It just a bad mark on your credit.But who really cares.Life goes on with good or bad credit !!!!!!!!! Plus after two years they actually cannot collect anyway!Its been a year I wouldn't worry about it.Of course you will constantly get letters and I mean constantly,BUT THEY ARE ONLY LETTERS THROW THEM OUT and go about your normal activities.
2006-12-05 00:57:32 · answer #4 · answered by rick_murlin 1 · 1⤊ 1⤋
Nope, but your credit is now shot. Couldn't you at least get a job in a fast food place or something? You have taken advantage of a lot of people. Well, maybe you don't care about your credit.
2006-12-05 00:47:39 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Nope, the creditor can take you to court and get a judgment requiring repayment. Your wages may be garnished. Try to settle before it gets that far, they generally take cents on the dollar. At this point they just want any payment.
2006-12-05 00:51:23 · answer #6 · answered by Ms. Dorsey 3 · 0⤊ 0⤋
File Bankruptcy chapter 7.
2006-12-05 00:45:19 · answer #7 · answered by Pretty me :) 3 · 0⤊ 1⤋
yes jail for 14 years
2006-12-05 00:45:20 · answer #8 · answered by sonu 1 · 0⤊ 2⤋
credit cards are the devil son. avoid thm like the plague. and no you wont go to jail.
2006-12-05 00:49:42 · answer #9 · answered by aaapowersports 3 · 1⤊ 0⤋
No....they will eventually sue you and can even go as far as garnish your wages and attach a lien on your property, but you cannot be charged with a crime simply because you cannot pay.
2006-12-05 00:49:46 · answer #10 · answered by First Lady 7 · 1⤊ 1⤋