I have 4 credit cards with a total balance of less than $8000. Three of them are between $2000 and $2500 and the fourth is around $700. I was sick and in and out of the hospital, had to quit my job and fell behind so now all 4 of them are with collection agencies. Now I am trying to pay them a little at a time, but I feel like I am just spinning my wheels. One of the companies keeps threatening to sue me and attach my assests (which I don't have much of anyway) How likely are the collection companies to sue me for these amounts and what is my best course of action for me. I am not trying to get out of paying, I just need time to get back on my feet.
2006-12-26 22:59:48 · 4 answers · asked by alahan15816 1 in Business & Finance ➔ Credit
Not very likely. If it were that easy more people would be sued instead of the debts written off a companies books. Under the FCRA and FDCPA, you have a right not to be contacted by collection agencies - period. I would write them a "cease and desist" letter, also known as a C&D that reads like this:
"According to my rights under the FCRA and FDCPA, I am charging you to cease and desist contacting me about this debt in any way, shape or form."
If they contact you again, they are breaking the law! The only way they can contact you, by phone or otherwise, is to actually be in the process of suing you. Of course, someone cannot just take you to court. There are rules, first of which you have to be given the right to respond. If you are served, immediately get a lawyer and answer their charge so they don't get a default judgment.
2006-12-27 00:27:59 · answer #1 · answered by Kevin K 3 · 0⤊ 0⤋
distinctive states have distinctive rules, yet you haven't any longer informed the entire tale. they won't have related your financial corporation account and not utilizing a courtroom order. they won't have a courtroom order with out suing you and getting a judgment against you. i do no longer understand how previous the debt replaced into, and the agent is probably nevertheless working there. you could sue them, yet you will lose by using fact they did no longer scouse borrow it....they related it. additionally, you could result having to characteristic courtroom expenses on your bill. that's the way it works in California.
2016-10-19 00:54:23 · answer #2 · answered by merkel 4 · 0⤊ 0⤋
for that amount i doubt it, the gentle men in the front answered it well. they can find out if you have a large income or assets. In your case no. It would be a big waste of time and money for them to do that. It is actually illegal for them to threaten to sue if they do not intend too, like in your case. That is why to sent a C&D letter out.
2006-12-27 07:58:39 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You could try debt consolidation.
2006-12-26 23:02:15 · answer #4 · answered by SINDY 7 · 0⤊ 0⤋