3year old unpaid credit card debt

Have a bad debt on credit card (due to divorce, job loss & illness)..Interest late fees etc,debt is currently 10K. After dodging the debt for last 3 years a civil suit has been filed against me. I have managed just last Dec. to purchase a small house with money borrowed from my parents. How do I contact credit card company to make some type of payment arrangement that I can live with for a less amount owedand keep them from putting a lien put on my house or having my wages garnished..I can be fired for a garnishment.

Hi lastbutnotleast

You must know that you can't be fired in case a garnishment happens. The federal laws prohibit any employer from firing people at work if they are going through garnishment. Though there may be a chance that he will form a negative opinion against you and restrain from any promotions or hikes. But you won't lose the job.

Now, if the judgment has not happened yet, you should immediately contact your credit companies and tell them about your past financial problems. They will understand your situation if you assure them regular payments in the coming months. You can fix up a payment plan in writing and stick to it. The DIY section in this site will guide you on the negotiation process. If you are unable to arrange something that benefits you, talk to a debt counselor. They are professional people and surely work out something with your creditors. If your creditor agrees, he will withdraw the case from the court. So.. get started

Gretchin, Thanks so much for responding, I took a look at the DIY section and looked up the specific Creditor I'm dealing with. It is Capital One. If I understand the information in listing correctly, they do not take accounts that are beyond 150days past due or have already gone to collections..and as stated beore a civil judgement has been plaed against me, do I have any where to turn to try and set up a repayment plan. As you would expect, I don't have 10K to pay back

I know, Capital One is very tough on negotiations. They may create problems and won't work on your payment plans. But try to assure them that you want to pay your debts. It never hurts to give a try.

If that doesn't work, talk to a counselor. They may work out something because they have experiences working with such companies.

Have you tried to contact Capital One themselves? Are they willing to work out anything with you? If you have tried that method, contact a counselor at a consumer counseling agency or contacting legal representation to know what your legal rights are.

The one thing about credit card companies is that they do not want to take anything to court because that is more money coming from them. See if you can work something out with them that is beneficial to both you and them and to your credit.

I wish you luck. Things will eventually work out.