Need some reassurance

I know you are probably checking this thread just waiting for some kind of reassurance with all that you are going through. You are not alone, and your not the first to make this kind of mistake. Many of us are in a similar boat waiting for the gavel to fall on each of our situations. Don't worry so much! I think you will find this forum a great place to look for advice, answers, and support. I sure did! Remember, these are tough times, and all those involved in your situation know that. Being sued is not the end of the world! Judges look at your whole financial situation, not just one aspect of it. I'm in much deeper trouble, but I only allow myself so much time a day to look things over, work on them a bit, then leave it be for the rest of the day. You will have highs and lows, but each situation does come to a close and you learn a lot from each. You have to be tough! So chin up my friend!

I'm with you. I'm also in a much deeper situation than you, and feeling scared and unsteady. But I've found the support here is very helpful, and the more I research everything, the more I realize that a) I'm not alone, tons of people are going through this right now, and b) its not as bad as all that.

After all...there is no debtors prison. A judgement against you ( if it did come to that) is scary, but it's not the end of the world. It might mean some adjustemtns in your way of life, but you'll still HAVE that life. :)

You can do this!!! ( so can I)

Sweetheart you are going to be fine! I have a credit card with $19,000 on it that I have not been able to pay for six months! when you are new to all this it seems like you are painted into a corner with no sure way out. Many people have never been in any kind of trouble before, so when you find yourself in the midst of it it can be really scary. Oh the things the creditors and collection agencies will do to try and scare an extra nickle out of you! When I first got into financial trouble it seemed all to big for me to handle. But as time went by and I learned more and more about how these things work, I found it easier to handle. The threat of a bad credit report, rude represenatives, all of the phone calls, you brush off the small stuff and concentrate on whats important. Your young, you have your health, someone who loves you that you can build a life with. Those are things money can't buy, and all the people who harass you can't take away. Just stay on top of things and you will find yourself looking at all this scary stuff SUNNY SIDE UP!!!

I totally agree with these guys! If your nervous about this stuff read all you can about your specific situation. The more informed you are, the better prepared you will be for what may come your way. You will be surprised how much of all this is just empty threats! Taking you to court is always a last resort for most creditors.

Can you get sued by the creditor even when making payments through the settlement company?

Well, yes. However, I'm not trying to scare you but only trying to paint a fair picture before you. The settlement company can only make a settlement proposal to the creditor, but whether or not the creditor would agree to it would entirely depend upon him. But, I'd not lose hope so early, especially since the settlement company is doing a good job for you.

The creditor may wait till the time you have enough to settle with them since it's also beneficial for them. You're right that enacting a judgment isn't always easy and there is also a chance that the debtor might file BK to avoid judgment. So when they know that you're trying to compensate them, they might not rush into suing you.

Best of luck!!

hello! rest assure that you will be ok! i promise! i too had almost 20,000 in cc debt with many different cards and some loan accounts. the fact is you are doing something about it. i must be honest i had 1 card that did sue me in court and it is very scary getting that summons. but its not as bad as you imagine. usually judges are very understanding and caring to people like us. my judge was angered that i was attempting to do something and they would not budge. his exact words was they wasted the courts time. in the end even though it stunk to high heaven i needed todo something and in the end it was the right thing to do. settlement is hard and scary but in the end its worth it if you truely need it. hang in there! we have all been there!

Thanks everyone- you all have given me the reassurance I was looking for. I feel like I have a better grasp on what to expect with the process and look forward to continuing to learn how to get through this!!

Thanks again!