I just got a call from a bill collector. It is from a Credit card that is in collections. The balance was 600. Now they want 1100. She told me they will start legal proceedings in 4 days and that Georgia is a garnishable state. I can't give them any money right now. I have no means. Can they really do that? Do I need to file Bankruptcy? This account is two years old. Why would they wait till now to do this?
2007-07-30 11:14:20 · 6 answers · asked by Mommie Dearest 2 in Business & Finance ➔ Credit
Can they? Yes but only if they take you to court first and get a judgment.
Will they? Most likely not, you do not owe them enough money. It takes a lot of time, effort and money to take someone to court and get a judgment.
Don't even think about bankruptcy. Unless you have a whole lot more debt then this, you do not have near enough to even consider it.
The account being 2 years old, it has been sold to a collection company for penny's on the dollar and they are trying to scare you.
2007-07-30 11:21:08 · answer #1 · answered by ? 7 · 1⤊ 5⤋
They are just now doing it because they have tried over years to collect their money from you. When you applied for the credit card you signed the credit card and agreed to their terms. Once you don't pay anything on it or even attempt to pay, or answer the calls from them, they turn it over to a collection agency and attempt to get their money. Depending how long you have owed them their money you have have interest added on, once you don't pay the interest rate is even higher, you also get charged for up to $35.00 per month for non-payment.
Bankruptcy is not the answer. So make an offer of at least $25.00 per month and see if they will take it, but more than likely your wages could be subject to garnishment.
You made the debt so pay up, always read the fine print when signing something.
2007-07-30 18:25:38 · answer #2 · answered by Ms. Angel.. 7 · 1⤊ 2⤋
In short, no, they cannot garnish your wages.
I would reccomend you researching attorney Bud Hibbs. He is infamous for his information collected on Debt Collectors. His information really guided me in the correct direction... It's very valuable & beneficial.
Another good site to prove this information is www.debtconsolidationcare.com, which also promotes Bud Hibbs as well.
They cannot threaten you, say they will garnish wages, nor hound you with calls or else you can take legal action.
2007-07-30 19:27:14 · answer #3 · answered by UsCiS-ReP 2 · 1⤊ 0⤋
one of my debts went to attorneys specializing in debt collections. i didnt go to court. they got a judgement. they garnished my wages till it was paid. almost 3 months. deby was less tha 700.00. cost me almost 1k. dont forget fees and interest accruing while they take your money every payday. also the same day a lawyer from colorado got a judgement on me. ive never heard from them but the interest is climbing. fyi. i knew nothing off these debts untill my wife moved in with another guy and i found she had at least 6 cards in my name.
2007-07-31 04:26:14 · answer #4 · answered by Anonymous · 0⤊ 0⤋
They first have to sue you all states have statue of limitations in which someone can sue you.So yes they can sue you I had a company sue me 1 month befor the statue in my state then the fees were allot higher..Needless to say I had to counter sue them because of all the unlawful collection tricks they tried to pull.
2007-07-30 18:33:26 · answer #5 · answered by Anonymous · 0⤊ 0⤋
They can and they will.
2007-07-30 18:18:06 · answer #6 · answered by Anonymous · 1⤊ 1⤋