Has anyone ever received a letter from their credit card company saying they are going to pursue you for legal action due to credit card debt?

[redfox88]

Updates

+1 y

Okay well I just don’t make enough money to be able to pay it off unfortunately and I’m worried they will garnish my wages since they are threatening me with that too.

Updates

+1 y

That’s okay. I don’t plan on using credit cards ever again!

[BeMuse]

Once debt goes to the attorney, they are going to pursue getting a judgement against you for the debt and legal fees associated with recovering that debt. Once they have the judgement, they will collect what they can when they can until it is paid. Yes they ill garnish your wages and bank accounts first...

[jshm2]

Check with the citizens advice, but in most cases if you're on low income than you can come to a debt plan and pay half of it off.

[redfox88]

Okay thanks

[KelleyNice]

Of course they will send out notices but unless the debt is large and they are convinced you can pay, notices and a report on your credit history is all you will get.

[20yearsolder]

Yep, a long time ago when I was about 20 or 21

[redfox88]

What did you do? I’ve never had this happen to me before

[20yearsolder]

Well if you pay your bills they don't do that. If you can come up with some money sometimes they will negotiate a settlement. I honestly don't think I was ever taken to court but it wasn't for a giant amount of money either. I know it fucked up my credit for a long time

[redfox88]

Well I don’t make enough money to pay it off and I’m worried they will try garnishing my wages because they are threatening to do that too.

[20yearsolder]

That's a possibility, you can also set up a payment arrangement. Just know that you're no longer going to be able to use a credit card for a long time.

[redfox88]

That’s okay because I don’t plan on using a credit card ever again!

[20yearsolder]

I'm just telling you that you need to communicate with them. I'm assuming that you did exactly what I did and ignored them hoping it would go away. Usually they are willing to work with you and a lot of times they will knock off the interest. Tell them what you can afford to pay monthly and that's all you can afford to pay. If you go to court, you tell the judge this is what I can afford and I will pay it every month until it's paid off but you also need to ask them to stop the interest charges

[redfox88]

Okay thanks

[20yearsolder]

If you have any more questions don't hesitate to ask, my p. m. is always open

[redfox88]

Okay thankyou I appreciate it. I might try to file for bankruptcy because I’m worried now more credit card companies will come after me too because I couldn’t pay those either. I unfortunately put myself in a really bad financial situation here.

[20yearsolder]

It depends on how far deep in debt you are

[redfox88]

It’s pretty bad because I also owe on student loans:/

[20yearsolder]

Here's what I did, first off I came to the realization that I'm the one that spent the money which means I've borrowed it from them. I was responsible for it and I refused to file bankruptcy. There are companies out there that basically negotiate with the credit card companies, they stop the interest and you make one payment to them and they disburse it to every credit card you have. That's what I did before about 4 years until everything was paid off

[20yearsolder]

You can file bankruptcy but your student loans aren't going to go away

[redfox88]

Yes unfortunately student loans never go away. The main reason I’m even pursuing them is because I don’t want my wages garnished

[20yearsolder]

I totally understand, I was threatened with that as well. If you set up a repayment plan, they won't garnish your wages.

[exitseven]

No, even when I used to carry a balance I always paid at least the minimum.

[Anonymous]

Nope.