Self Employed (LLC) Credit Card Debt
Welcome to our DebtCC forum :) I think you should talk to the
Welcome to our DebtCC forum :)
I think you should talk to the original creditor regarding this and try to explain your financial position at the present juncture. If they refuse to budge then respond to the collection agency that contacted you. I think the best way for you to come out of this situation is to negotiate with them and come to a repayment plan.
I don't think there is an actual time frame for a suit. They can
I don't think there is an actual time frame for a suit. They can do it whenever they want. My mother inlaw was sued after 2 1/2 years - and they still sued her even though she is on ss only. I would continue to tell them that $xx is the amount you can pay. Make a copy of your check & send it, and when they cash it, copy the cancelled check, At least this way if they do file suit, you at least can show proof that you were attempting to pay on it. I dealt with that on a med bill myself. All I could commit to was $40.00 month - I told them if I have more in a month, I would send it, but I could not feed my children & keep a roof over their head if I paid more. They finally relented, and sure cashed the checks quick. Just PLEASE keep records of everything to keep yourself safe. Good Luck
wanted to also add this
Also - I am not real familiar with LLC's - my business is a C corp, but check into any protection from your other bills with this. I know the one with the personal guarantee has to be paid, but you may be able to get some help. Go to a small business website for your state - there is alot of info there.