and why are there so many people who try to justify it?
2007-02-26 13:27:52 · 12 answers · asked by cejones345 1 in Business & Finance ➔ Credit
I am NOT a deadbeat. I am a full-time student and I was out of work for a long time.
2007-02-26 13:50:23 · update #1
If some one owed you money and refused to pay, what would you do?
Credit card companies are generally scum, but that does not relieve you of your responsibility to repay your debts.
2007-02-26 13:38:48 · answer #1 · answered by Sun and Sand 3 · 0⤊ 0⤋
Well by your question it sounds as if you are getting sued by a Credit Card company. Basically, they don't force you to sign up for their cards or use them to purchase items. They may make it very easy to do but in the end the choice is yours to either pay cash or pull out the plastic. They are just taking means within their rights to try and get their money back. Regardless of the reason people did not pay, the companies still have a right to try and get their money back. Sure in a perfect world it would be nice for them to take situations into account, but it's not a perfect world and they have only a certain time limit on when they can do this.
Just to turn it around, if you loaned someone some money and they did not pay, what would you do? Would you just ignore it and hope they pay or would you use your legal means to try and get your money back.
Hope it works out but in the end just think about this as a lesson learned. You may even come out smarter about Credit in the future.
2007-02-26 13:57:21 · answer #2 · answered by OC1999 7 · 0⤊ 0⤋
It's not so much the credit card companies - it's the lawyers retained by large collection agencies like CACV of America. CACV retains lawyers all over the country to sue people and obtain judgments for all kinds of debts such as credit card, medical, automotive, etc. The credit card company charges off uncollectable debt before selling the debt to CACV for pennies on the dollar. The lawyers acting on CACV's behalf sue people and obtain judgments when people do not show up for trial. With the judgment, wage garnishment orders can be issues or liens can be placed on houses or cars. The threat of a lien or garnishment usually motivates people to repay the debt - but that may be too late.
Moral of the story - to avoid lawsuit, try to work out a payment plan as soon as possible and stick to it. Otherwise, file for bankruptcy which would stop any collection efforts or judgments dead in their tracks.
2007-02-26 15:55:57 · answer #3 · answered by Anonymous · 0⤊ 0⤋
A credit card is not like a loan from your dad. You have to pay up on their terms or they will come looking for you. If you do not resposnd they will sue you. Also, even if you are a student, you're not supposed to be living off of your credit cards. You need an income to pay bills, period, and that includes your credit card.
2007-03-02 01:35:38 · answer #4 · answered by annazzz1966 6 · 0⤊ 0⤋
Because breaking legs went out in the '50s. Credit Card companies, for all the pretty commercials, are plainly put: Loan Sharks. What they want you to do is rack up money and pay minimums for as long as they can keep you paying.
Ever notice that minimums on cards don't lower the balance but work with finance charges and percentages to keep the balance even?
If you don't pay the minimums, they need to get their money somehow. The payment plan that the courts will hit you with will probably be similar... not that I know personally.
I'll trump you one, now. Did you know it's almost impossible to bankrupt out of credit card debt, too?
Nasty business.
2007-02-26 13:40:07 · answer #5 · answered by Whiskeybone 2 · 0⤊ 1⤋
I am on both sides of the fence...
All creditors have the right to be paid back as terms and conditions agreed to. We have to learn to accept responsibility for accepting credit. Rarely do people think of cc's as a loan. When they need the credit to make ends meet, the love their cc's.
As soon as they cannot make the payments, then it those DARN cc's jerks who want their money.
2007-02-26 13:33:57 · answer #6 · answered by Ks62ladybugs 2 · 0⤊ 0⤋
To get their money back. If the company wants to stay in business they need to make money. If they give people free money, then they wouldn't be in business long.
2007-02-26 14:26:08 · answer #7 · answered by Mariposa 7 · 0⤊ 0⤋
It's their money, that's why.
Why are so many people deadbeats, thereby making things more expensive for the rest of us?
2007-02-26 13:37:52 · answer #8 · answered by Box815 3 · 0⤊ 0⤋
You borrowed money from them. They did their side of the bargain, you welsh out on yours, and you are mad at them?
They only sue people who try to screw them over. Sounds fair to me.
2007-02-27 06:42:59 · answer #9 · answered by Quixotic 3 · 0⤊ 0⤋
why do CREDIT CARD COMPANIES sue people?
psch, you act like their the only ones!
everyone sues everyone for nothing these days!
2007-02-26 13:35:14 · answer #10 · answered by rita 3 · 0⤊ 0⤋