Afraid my credit card company will sue
Date: Mon, 07/26/2010 - 17:26
1. What is the probability that that they will sue me? A lot of websites and sources I read say that credit card companies sue only 1% of the time and I cannot find any documented cases via basic internet search in regards to US Bank (I have found many for Citi and Capitol One).
2. If they do sue me, is there still a chance I could work out an agreement with them before the court date?
3. Should I continute to avoid their calls or should I call them and try to work out a deal before it's too late?
I'm fairly young and I want this to just go away, but obvioulsy that's not going to happen. The rest of my credit is excellent, I have roughly 20+ accounts in good standing. So now that my credit report is hurt, I really don't see the point in paying the money back unless they sue me. If I pay it off at this point, I will be $10,000 poorer and my credit will be hurt. At the same time, I don't want to end up in a way worse situation than I all ready am in. If it goes to collections, and is on my report for 7 years then so be it. I don't want to be sued and I don't want my wages garnished. Also, I 'm kind of scared to even call them to work out a deal because I've been told that once I make that call I'm "admitting debt."
Ahh someone please help. What would you do?
1. Wait it out and see if they do actually sue then deal with it
2. Reach out to them and see if I can get them to work out a deal where I pay the balance and they report it as "Paid as Agreed" so it doesn't hurt my credit (if thats even possible and if they would even do it).
3. Pay a lawyer to get me the best deal he can
When the economy fell out, I had to quit paying all my credit ca
When the economy fell out, I had to quit paying all my credit cards in October of 2008. In April 2010, I was served papers that I was being sued by US Bank for an $8000 credit card debt. I answered the lawsuit on my own, denying all claims as I was instructed by my lawyer. They immediately responded, so I now have my lawyer dealing with them. If you are able to make arrangements with them to get caught back up, I would do so. My lawyer was surprised that they would sue over such an amount, but they did. Good luck
I would call 866-833-6398 they could get you a good deal and the
I would call 866-833-6398 they could get you a good deal and they don't charge a fee until the settlement is done.