I went thru a divorce 10 years ago, and was unable to continue paying two credit cards etc... Last year both cards were turned over to a legal firm who have made arrangements to accept monthly pay'ts. but those monthly payts are a burden. Am I legally responsible were I ever taken to court? I remarried 6 yrs ago. Would a judge take her paycheck in consideration?
2007-04-12 02:41:37 · 5 answers · asked by pianoart62 1 in Business & Finance ➔ Credit
You are obligated to pay the debt, no matter what your income is. If you have to go to court, the creditor will most likely be awarded the original debt, plus interest, court cost, and atty. fees. Your best bet is to pay it off before it reaches this stage.
You can always take your chances that the credit card co. will write it off, and will not want to go to the trouble of suing you, especially if it's a small amount. But no judge is gonna take your income, or lack of, into consideration. Keep in mind that your credit report has probably already been adversely affected.
2007-04-12 02:49:17 · answer #1 · answered by ~RedBird~ 7 · 0⤊ 0⤋
Not that I advocate disregarding your debts I do believe that circumstances could lead to a middle road that all parties could agree to. First begin by negotiating a settlement you can live with. Next do not attempt to negotiate with a collection agency. Their job is to collect and they will not usually settle with a debtor. Contact the credit card company directly and deal with them. Be sure to keep records of the date time and the name and department of the person you have been dealing with. Good luck.
2007-04-12 09:57:53 · answer #2 · answered by Victor B 3 · 0⤊ 0⤋
since you racked up the debt, you are probably responsible, unless you file bankruptcy...but that's never good. as far as being married, i believe the court would see you and your spouse's assets as joined, and therefore fair game. i recommend not letting it go to court. find a way to make the monthly payments.
2007-04-12 09:47:12 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Find out if they will negotiate a lump sum settlement for less than the full amount of the debt.
2007-04-12 09:51:51 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If it's your debt, then of course you are responsible for paying it unless you file bankruptcy.
2007-04-12 09:49:04 · answer #5 · answered by ? 7 · 0⤊ 0⤋