getting sued
Date: Fri, 05/07/2010 - 06:56
Collection law fims do regularly sue for credit cards...especial
Collection law fims do regularly sue for credit cards...especially Citibank, AMEX and Capital One. Read the forum....you will see lots of cases.
Yes it can happen, but unless they think you are making up your
Yes it can happen, but unless they think you are making up your hardship or feel you are intentionally walking away from debt you could pay, they usually will settle before sueing. I did some research when I started thinking about trying to settle my debts and the only thing I found is one article that stated that credit card companies only sue 10% of those that default. So I figured I had a 90% chance of not getting sued.
So far I have settled 3 out of 4 credit cards. The last one is being a stinker and haven't heard from them in quite a awhile as it charged off last month. So that one is still a lawsuit possibility but unlikely considering my situation (if they actually look at it).
Now some on this forum also say once they got served they were able to settle with the attornies very easily as they don't really want to go to court anyway. So the worst thing you could do is ignore the suit and not show up or not try to settle prior to the lawsuit date. A lawsuit is not the end of the game, just another chance to come to a fair settlement.
Yup it can happen. Amex is suing us through Zwicker, and that h
Yup it can happen. Amex is suing us through Zwicker, and that happened at day 90ish. Chase sent an account to lawyers at day 65-70...We settled that one for 1 payment of 2750 on a balance of 9200 direct with the law firm in 1 phone call. Zwicker case is still pending, we have elected arbitration and currently working on getting that case kicked outta court...I believe it has everything to do with your employment status. If they know you're employed they will sue...We had 8 cards to settle, 5 were mine and 3 were my wifes. I'm self employed and have not yet been sued on any account, settled 4 so far with 1 to go. My wife is employed and out of her 3 cards the 2 referenced above went to lawyers. I guess you can't be too careful what you tell them when they call...they could care less if your hours have been cut, and are only concerned if they can collect...