Curious as to who can sue you for debts.
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Posted by curious
(63.237.22.22) on February 19, 2003 at 14:36:00:
I am in SC. I have an MBNA acct that was charged off in Dec. 02 and has been turned over to NCO Financial. Can NCO Financial sue me for this debt?? Anyone know if they do or not. Last payment was made 4/02. Balance was $3600. Just curious as to whether I should try and settle or not worry about it if they aren't or can't sue. I know they can't garnish my wages. Also my husband has an acct with First USA (was Wachovia when he opened it). After FU took over they increased the interest rate and changed his payments. Was paying 12% and like $250 a month, they changed it to 29% and $150 a month -- at this rate it would never be paid so he quit paying it ($7500 -- probably lots more now with interest/late fees). He tried calling them and trying to work out someway to benefit both parties (him paying and them getting their $ but they refuse to change anything. Anyway he quit paying 7-02, which really bothers him since he has perfect credit. What do you think will happen?? Will they sue since the amount is so high? Hasn't been charged off yet, but they refuse to work out any payment arrangements.
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