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Posted: Sat May 06, 2006 4:54 am Subject: Judgement advice for Pennsylvania

I am scheduled for a hearing this week for a credit card balance I am being sued for. Yesterday I lost my job. I am married and all of our assets (with the exception of my vehicle) are joint. We do not own property or a home.

This hearing was continued from a previous date because some of the paperwork was not filed correctly. At that time the judge basically said that he was only there to rule whether or not I am responsible for the entire amount and he was not able to make any kind of payment schedule.

Although I do have an attorney, he may or may not be there according to this schedule.

What can I expect?

Posted: Sat May 06, 2006 11:08 am Subject:

Hi

You can't have a judgment against you because you don't have a job at present. Moreover, as this is an unsecured debt, your assets won't be used for recovering the total.

The judge will analyze all sources of your income before he fixes any payment plan for you. You should clearly explain the present financial situation so that decisions are being made in your favor. Consult your attorney if he can make your case any stronger.

Posted: Sat May 06, 2006 12:55 pm Subject:

You can have a judgement put against you if you do not have a job. I am going through it right now. The credit card company will put a lein on anything you own til the debt is paid in full including court cost and attorney fees. They can also go after your hubby's wages because he is sole wage earner. I know this because I was told this by our attorney. The judge will look at your financial situation and set payments at what you can afford. I was told that it is very hard to win against a credit card company because you owe the debt.

Posted: Sat May 06, 2006 3:00 pm Subject:

There are companies that make their kind of call. Whether they want to file any lawsuit against you or not is their choice. If you don't have money to pay, filing a case will not make them recover the money in anyway. Judgment is just a threat and in most cases, it does not have any basis.

Tammy, I wonder how the credit card company puts a lien for unsecured debts. I can understand if it would have been for recovering secured debts. Did your contract state that your assets can be used for recovering the amount in case of default? I am quite surprised here.

Posted: Sat May 06, 2006 3:05 pm Subject:

No, that is the way HSBC gets their money.

joe smith

I have a home in my name and my wifes name what will happen and what should I do

Posted: Mon May 15, 2006 2:06 pm Subject:

The credit company will try in every way to get their money back. If there is a judgment against you, the court will set your monthly payments after analyzing the present financial situation. In case, if you fail in paying back, there is a possible chance of putting liens for recovering the debt amount.

The best way to handle this situation would be to make regular payments towards the accounts. Once the accounts are paid off, the credit company will update your file with the bureaus

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