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I have a credit card that has a balance of 17,500.00. About a year ago my ex husband stop paying child support and I could not pay the monthly bill. In addition, I was paying 25% interest.
In short, I have not paid for a year now. I am going to be cominig into some money from some stocks I have so that I could give the credit card about 10,000 dollars. Since my credit is already ruined, what would be the advantage of settling this account for 10,000? What would happen if I never paid them anything at all?

Depending on what state you live in they could sue you and garnish your wages. Could even put a lien on your home.

Sub: #1 posted on Tue, 08/26/2008 - 07:30

mobile0311 mobile0311
(Posts: 1817 | Credits: )

Have you received any sort of summons yet, or is this still in general collections? Have they sent you any sort of settlement offers, have you spoken to them at all?

Is this particular credit card the only one that you have, and is it the only one that you are in trouble with?

Sub: #2 posted on Tue, 08/26/2008 - 07:50

smo65d11 smo65d11

(Posts: 1468 | Credits: )

I have not received any summons and have not had contact with the credit card company in over a year. It is still in general collections. This is not the only credit card I have but I have never been late on any of my others, just the biggest one.

Sub: #3 posted on Tue, 08/26/2008 - 09:26


when you say you have had no contact from them, are they still sending you bills? Is a collection agency involved? Is this showing on your credit report (assuming you have ordered it)?

Sub: #4 posted on Tue, 08/26/2008 - 09:42

smo65d11 smo65d11

(Posts: 1468 | Credits: )

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