I currenly owe like $12,000 in cc dept, and othere stuff like stores and cellphone collections. the lawsuit is from a store I took a computer out. I haven given any payments to any dept like 4 monts ago.
2007-10-18 16:06:42 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
You must identify who is contacting you. A collection agency can not/will not sue you. If a collector threatened to sue you that is a violation of the FDCPA. It is a deceptive business practice to claim to sue when they can't. All a collection agency can do is try to bother you to pay and eventually if not successful sell or transfer the account to another entity. If it is a lawfirm/collection agency, then they will definitly sue you. But if you are only 4 months behind you have a long way to go, this may still be with the original creditor. Dont worry so much just do your best to pay something, if you cant pay they cant put you in jail.
2007-10-18 17:41:15 · answer #1 · answered by Anonymous · 0⤊ 0⤋
They will take you to court and you will see a mediator. At that time you will be able to make payment arrangements. If your arrangements are not considered satisfiable (to the mediators standards) then you will have to go in front of a judge. They won't garnish your wages. They only do that when you go to court and there is a written agreement that is broken by you. Good Luck to you.
2007-10-19 12:49:49 · answer #2 · answered by Applered24 3 · 0⤊ 0⤋
They will file a lawsuit, win a judgment. then garnish your wages, attach your bank account, and lien your property. The judgment is good for 10 years and can be renewed. So they can wait till you have something to attach.
Sounds like you've been living way beyond your means. Time to pay up. Bite the bullet and start paying your debt.
2007-10-18 23:14:17 · answer #3 · answered by bdancer222 7 · 0⤊ 3⤋
creditinfocenter com
2007-10-19 09:51:13 · answer #4 · answered by Anonymous · 0⤊ 0⤋