2007-08-26 16:52:27 · 6 answers · asked by Mike Conaway 2 in Business & Finance ➔ Credit
This happened to me years ago and what the judge did was ask me how much did I make, how much is my rent/childcare/transportation costs and such and what can you afford to pay.
I was honest and told him that all I had left at the end of the month after expenses was $15. and he said would you be able to commit to $10 a month for 1 year. I said yes and after a year of paying it stayed the same because the credit card didn't ask to go back to court.
Paying the agreed amount did wonders for my credit rating as well.
2007-08-26 17:03:06 · answer #1 · answered by New England Babe 7 · 0⤊ 1⤋
First the judge will hear the creditors side of the case. They will then ask for your side. If you say yes it is my debt and I do owe, but have no money right now, the judge will say okay and put in a judgement against you.
If they do win you won't be forced to pay the amount right there. However, depending on your state they can Garnish your wages, attach your bank account, or place a lien against any real property you may have. This could be done at the same time, but it is usually done at a later hearing.
So what do you need to do. First know your rights. In court(if you have not already done this) ask to see the original signed agrements, as well as how they calcuated the amount owed. You also need proof of the date of last delinquency. As there is the Statute of Limitations that may apply. If they filed suit after the SOL expired the judge will throw the case out. It does vary by state and the link below will give you the amount of time for each state.
If you are still in the SOL, and it is your debt you will probably lose. In this case be sure to bring in any proof of your expenses. The judge won't care about things like other credit card bills, but they will take into account things like child support payments, other court orders, or basic living expenses.
2007-08-26 17:28:57 · answer #2 · answered by OC1999 7 · 1⤊ 0⤋
If the judge agrees with the credit holder, you will be instructed to make payments until the loan is paid off. If you fail to make those payments, then you will be in contempt of court and could be arrested.
If the creditor can show that you have a history of not making your payments, the creditor can ask to have your wages garnisheed, which means the agreed upon amount will be withheld from your pay and sent to the court each payday.
2007-08-26 16:59:49 · answer #3 · answered by Let me steer you 7 · 1⤊ 0⤋
hopefully a repayment option, a set amount plus interest, fees and court costs, per weeks/ fn /month over a set amount of time
2007-08-26 16:58:46 · answer #4 · answered by t.s 5 · 0⤊ 0⤋
if you have a job they will get a judgement to garnish your wages.
2007-08-26 17:24:30 · answer #5 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋
Credit card debt in the USA only goes to court for bankruptcy . . .
Or fraud , did you steal the card ?
$6000 would be a felony and possible prison time .
What country are you in ?
Is this a bankruptcy hearing ?
If so , aren't there more accounts ?
I am confused by this . . .
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2007-08-26 16:59:15 · answer #6 · answered by kate 7 · 0⤊ 7⤋