Credit Card Account turned over to collections; typically, how long before they file law suit?

Question

Balance is very high. I am sending something to the collection agency each month.

Answer 1

A few months.

But it may be faster.

Good luck !

Answer 2

Credit card debt is unsecured debt, therefor the only way it is likely to go to court is if they believe you have committed fraud. Generally, this is only for very high balances. Otherwise they will haunt you for years, and destroy your credit history for ever. Here is a hint for you. Get a copy of your credit report now and put it somewhere safe. An item may only stay on your record for 7-10 years then must come off, however, they sell your info or update it every year, so it never leaves, but with your hard copy, they must take it off when the time is up, no matter how many times they sell it off.

Answer 3

it depends on the balance a few thousand can be very quick but if it is a small balance they may never file a law suit. i had a 300.00 card in 2001 never paid and never touched but of course it did and still is ripping my credit to spreds

Answer 4

They dont report a regulation tournament many times. that's going to easily stay in collections and save including activity. you would be able to make money or they're going to many times supply you a freelance supply. i think of it ought to count on which state you reside in inspite of the indisputable fact that.

Answer 5

6 months; you might consider a settlement if you have a money source like relative, 401k, or home equity.

Answer 6

depends on how much the debt is? if its less than a thousand probably never... otherwise prob within a year!