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Anyone ever been sued by their credit card company?

I don't know how or why i let it get this bad, but I have. I owe about 21, 000 to one of my credit cards, i am waaaaay past due, I am now dealing with a collection agency, i have 1 week to come up with that money (which is NOT going to happen) i asked them what could happen next, they told me that my credit card company could sue me!!! what the heck does that mean? is it to late to file for bankruptcy? all i have done today for the past 4 hrs (since i talked to the collections agency) is cry!! i am so scared!!

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Anonymous

Asked by Anonymous at 6:32 PM on Mar. 1, 2011 in Money & Work

Answers (12)
  • Never been sued since I know how to pay my bills. Have you tried payment arrangements? 21000! Maybe Chapter 7, that is where they wipe out your debt BUT you still pay it back and once you pay off the bankruptcy, the Chapter 7 is off your credit.
    mommy_of_two388

    Answer by mommy_of_two388 at 6:37 PM on Mar. 1, 2011

  • Usually they will put a lean on your account before a lawsuit. If you are worried then stop deposting into you accoutn and pay bills by money order. You will not be able to touch your money when the lean starts. Id talk to a lawyer about your options. Or even a debt consolidator. GL!!! Id cry too!
    Steph319

    Answer by Steph319 at 6:37 PM on Mar. 1, 2011

  • tell them ur in the process of filing for bankruptcy so if it goes to court they cant touch u. dont let them scare u. im currently going through this. i was told i was going to get arrested if i didnt call the creditor in a hr( i was almost due with my son) and it made me so upset but coming to find out they cant do anything like that. they will say anything to make u want to pay when u dont have the money....they cant touch u! just let it go to court and tell them what u can do and cant do. keep ur head up high!
    tabcat816

    Answer by tabcat816 at 6:38 PM on Mar. 1, 2011

  • also as long as you make some kind of payment when u can it looks good on ur end
    tabcat816

    Answer by tabcat816 at 6:39 PM on Mar. 1, 2011

  • "I know how to pay my bills" <~~~ Well dont we deserve a cookie!!! LOL The best thing I can tell you is to face it. Call the Credit card company, and see what kind of arrangement you can make. I know alot of times they will say they wont take a lower payment, you tell them that they better take what they can get. If they wont take what you offer, make sure you write it down. Kepp a notebook of what you have offered and when and their refusal. They are trying to scare you, and those damn collection agents will lie to get their money, bc they get a % of what you pay. They are garbage! I had 1 leave me a message 1 time saying they had to discuss something very important about my daughter, and then I call and its about a Dr. bill for 20 bucks that my ins didnt cover. She got a mouthful from me. I hate those people. They suck. Dont worry honey, it will be alright!
    LuvMyMedic3ID

    Answer by LuvMyMedic3ID at 6:56 PM on Mar. 1, 2011

  • Not to be rude but its true, its no one elses fault, you made some bad decisions. Yes they can sue you but most times it goes something like this " are you so and so(judge asking) "is this your debt"? you- "yes" judge- "pay!".

    You can try consolidation. Here is what we are usingm proud to say we used our tax return to get rid of some way overdue accounts, feels good.

    You can do it too! Just need some education and counseling, https://www.jmgnetworth.com/mywealth
    IraqiVetWife

    Answer by IraqiVetWife at 7:08 PM on Mar. 1, 2011

  • those damn collection agents will lie to get their money, bc they get a % of what you pay. They are garbage!


    It is against the law for them to lie so, maybe you should read up on your laws. And who are you to call someone who is only doing their job, garbage. It is people that don't pay their bills, that give them a job anyways. And they get about 1% of what you pay.

    matthewscandi

    Answer by matthewscandi at 9:31 PM on Mar. 1, 2011

  • Seriously it sounds to me like they are pulling your leg. YES they can sue you the moment you are late- but for most credit card companies it will take them 6 months to a year before they get around to it. If and when they do sue you, then you can work out a payment arrangement or settle with them.

    In the meantime I'd recommend getting on a written budget where every dollar is allocated before you actually get the money. That way not a single cent is wasted. Sell everything you don't need and start looking for a 2nd or 3rd job.

    If they do sue you they can garnish your wages- and in most states put a lien on your home. If you can't afford to have your wages garnished- then you might be bankrupt. But don't file until they sue you- that could be six months or more from now.

    Hope things turn around for you soon! Good luck!
    Erica_Smerica

    Answer by Erica_Smerica at 9:37 PM on Mar. 1, 2011

  • it has been 6 months...so this is happening NOW!!
    Anonymous

    Comment by Anonymous (original poster) at 9:38 PM on Mar. 1, 2011

  • Yes they can sue you, yes they can take you to court, yes you can get arrested for it.
    How do I know? My parents owed money, about the amount you do on a credit card and the credit company sued them taking them to court. My mom didn't know about it, my dad didn't say anything and didn't go to court. So a warrant was issued for both of them, mom got pulled over for the tags on her car and was arrested and had to be bailed out of jail.

    I don't know what to tell you or advice except keep in contact when they call.
    Maybe call them tomorrow and try to work out payments and actually make those payments. Or wait for them to take you to court and actually go and see what happens.
    Gnomeofmyheart

    Answer by Gnomeofmyheart at 10:10 PM on Mar. 1, 2011

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