Re: Help! Credit card demaning money back
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Posted by LadynRed
(199.91.33.254) on May 01, 2003 at 15:00:46:
In Reply to: Help! Credit card demaning money back posted by newtocreditcards on May 01, 2003 at 13:27:43:
Surprise !! Credit card companies expect to get their money back !!! If you stopped paying 6 months ago, the debts are charged-off or about to be. Your fun is only beginning. Once they're charged off, the collection agencies take over 99% of the time and they are relentless. You do have some rights with collection agencies, but with fresh debts, there's not a whole lot you can do. IF Discover is in your wallet, they WILL sue you. Yes, they can take your bank account after they win a judgment. No, they probably can't take your car or your personal property. Disappear ?? Guess what .. you can't. No matter what you do or where you go, at some time they will find you again. Even if you don't file a change of address.. they'll find you. There are so many databases of public information available these days its just about impossible to hide. If you're working, they can and will garnish your wages it its allowed in your state. A judgment can stick around for 20 year or more in some states. Its not what you have, or don't have NOW, its what you may have later that they'll get from you. I suggest you find a way to negotiate settlements with these creditors if you can. If you can't do it now, then you'll have to do it later anyway.
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