im being sued by a credit card company. i just received a writ of garnishment legal papers from a lawyer. do i need to do anything with these papers? i dont work. im a SAHM. i dont remember the last time i even used or paid the bill on this credit card. it has been YEARS. and now i owe almost 10, 000 to them. what can they do if there is no job to garnish? should i stop using my bank account? they sent a notice too to my old bank, they must not know my current bank. i am not married. i have no assets. what can they do? what should i do?Answer Question
Asked by Anonymous at 3:14 PM on Dec. 29, 2008 in Money & Work
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Answer by determind at 3:46 PM on Dec. 29, 2008
Depends on the state your in. They need to take you to court first to garnish your salary. MANY times they will settle with you for a fraction of the cost. One of my credit cards settled with me for 25% of the amount. If this happened for you, it would mean only paying $2500.
While credit card companies can take assets, they usually prefer to settle. They usually cannot attach your assets unless they have taken you to court first and many companies will trick you into signing a waiver to relinquish your rights so they can easily attach your assets.The credit card company's lawyer is looking out for their best interest not yours. It is much easier for them to setttle with you and cheaper. I have been in your position and settled with two of my credit cards. Good luck.
Answer by Anonymous at 4:10 PM on Dec. 29, 2008