if a cc offer to settle with me, and I cant, will they sue?
Date: Fri, 07/31/2009 - 14:21
My min payments went from $40 to $600.
I'm afraid to answer the phone.
If they call me and offer a settlement (I can't afford that right now, even if they break up the payments over a few months), what happens?
So, is their next step a lawsuit?
I owe about $3,000 to chase, and $1100 to Bofa.
Thank YOu
They could sue. That's a possibility. They would have to win a j
They could sue. That's a possibility. They would have to win a judgement in court. Then, they could get a garnishment (depending on the State you reside in).
Your balances are very low....can you not just make the small minimum payments that were required?
At this point, no. I was struggling before I lost my job due to
At this point, no.
I was struggling before I lost my job due to layoffs.
About a month before I was laid off, I offered them a settlement, which was denied.
I am 75 past due.
Do you think making very small $10 payments would stop them from suing me until I find another job?
Do not send in small payments, it will not change anything. If y
Do not send in small payments, it will not change anything. If you can't afford to pay then you have to wait it out. If they see you have nothing, they probably won't be in a hurry to sue. You can always settle down the road when you have the funds.
ok, great. Thanks for advising. I've told them I am unemploye
ok, great. Thanks for advising.
I've told them I am unemployed, so I'm hoping that they won't sue bc of that.
once, i'm employed again, Im hoping to be able to settle for around 30% and break it up into payments (or borrow $ from a friend for the settlement $).