small claims court credit card debt
Date: Sat, 03/14/2009 - 18:30
Hi there,
My individual credit card debts are all under $5,000. I've read that the limit for corporations to sue you in small claims is $5,000. I've also read that 3rd Party Debt Collectors that have purchased debts...can not really sue you as they are not the "victim" or "injured party."
The bottom line is...I live in California...I'm a special ed teacher...wife lost her job...and I am just thinking about letting my credit cards go into default....being sold....being harrassed....and having my credit ruined for a few years. That's my Personal Bailout Bill.....
How viable is this? Can they sue me......in Small Claims? Can good old Wells Fargo....actually garnish my wages for a debt under 5,000? Finally, can a Debt Collector let the debt accumulate until it's well past 5,000 and then sue me in Superior Court?....that would be a sneaky strategy...
Thanks,
John
My individual credit card debts are all under $5,000. I've read that the limit for corporations to sue you in small claims is $5,000. I've also read that 3rd Party Debt Collectors that have purchased debts...can not really sue you as they are not the "victim" or "injured party."
The bottom line is...I live in California...I'm a special ed teacher...wife lost her job...and I am just thinking about letting my credit cards go into default....being sold....being harrassed....and having my credit ruined for a few years. That's my Personal Bailout Bill.....
How viable is this? Can they sue me......in Small Claims? Can good old Wells Fargo....actually garnish my wages for a debt under 5,000? Finally, can a Debt Collector let the debt accumulate until it's well past 5,000 and then sue me in Superior Court?....that would be a sneaky strategy...
Thanks,
John
Oh yeah...that can sue you and they can garnish your wages. The
Oh yeah...that can sue you and they can garnish your wages. They choose what court to sue you in too.
