| Message |
Author |
 Posted: Thu Apr 05, 2007 10:17 am Subject: Debt Collection Law Suit |
|
|
I'm being sued by a debt collector for a credit card debt I stop paying 3 years ago. What would it happend if i dont pay at if I dont do anything this point? I can't make the payments they are asking for and I would like to know what would be the effect of a court judgement against me in my credit report? Can they repossed a car let say?
PD Im in the state of Texas.
_________________
Register today to encash debtcc points.
|
|
pht_1998
Guest
Debtcc Points: 100
|
|
|
| Posted: Thu Apr 05, 2007 11:52 am Subject: |
|
|
SOL in Texas is four years from the last payment activity on the debt. It looks like your debt is still within the statutes and the DC will try to get a court judgment against you. The court will mostly try to order wage garnishment before liquidating any assets.
Will it be possible if you can call the CA and work out a payment plan? I assume they have already validated your debt and proved about their authorization. When are you asked to appear for the court hearing? Be sure to attend the hearing. You may be able to explain your situation to the judge and get an easy plan for you.
|
|
Howard
Joined: 30 Oct 2006
Posts: 312
Debtcc Points: 4766
|
|
|
| Posted: Thu Apr 05, 2007 7:16 pm Subject: |
|
|
You need texaslawyer. I've read a little about Texas because I might sit for the bar there some day as well. In Texas, they can't garnish your wages (except for government debts and childsupport). From what I understand, they can't take your car and can't take your house. In Texas it seem that it is very limited in what they can do if they indeed win a judgement against you.
Law Student
San Francisco, California - streetcars, the Golden Gate...and $4.50 per gallon gas.
|
|
LawStudent
Moderator
Joined: 04 Apr 2007
Posts: 1191
Debtcc Points: 16430
|
|
|
| Posted: Thu Apr 05, 2007 9:30 pm Subject: |
|
|
In TX, I believe execution on a judgement is limited to siezing bank accounts.
A judgement will appear on your credit report, and stay for at least 10 years. Any party that will give you credit with a judgement on your CR will do so at a higher rate. If you move out of state, I suppose the judgement creditor can pursue a sister state judgement, and take whatever collection means are allowed in the new state of residence.
_________________
The only people with whom you should try to get even are those who have helped you.
-John E. Southard
|
|
Morningstar
Moderator
Joined: 06 Feb 2007
Posts: 1651
Debtcc Points: 10698
|
|
|
| Posted: Fri Apr 06, 2007 12:44 pm Subject: new jersey |
|
|
can credit card company take your house if so how long would it take? with the help of court of course
_________________
Register today to cash in debtcc points.
|
|
charlie
Guest
Debtcc Points: 100
|
|
|
| Posted: Fri Apr 06, 2007 1:56 pm Subject: |
|
|
I don't think they could take your house. They might put a lien on your property but it would have to be a big debt. Usually, they just try to garnish wages if they cannot work a payment plan out with you. Most states require that it go through the court system.
|
|
CowampChicken
Joined: 20 Dec 2005
Posts: 3681
Debtcc Points: 36192
|
|
|
