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Part 1: Assessing likelihood of credit card companies filing lawsuits
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Posted by Armadillo
(12.213.78.230) on June 28, 2003 at 16:17:09:
I have seen conflicting views here concerning the likelihood of creditors filing suits seeking judgments to collect credit card debt. Some opine that it's a real and highly likely proposition, and that it often bears little relationship to the amount owing (I know that Discover Card, for one, makes a public policy of prosecuting the smallest balance); others here have stated that relatively few credit card debts ever head to court (I suspect that an increasing backlash could be brewing from our court system's growing impatience with usurious card companies and their overuse of the judiciary to facilitate their powerful and ruthless industry). I would like to hear as many opinions as possible [under this string] that address the exigencies, risks, and possible rewards of opting for an 'informal bankruptcy,' the definition of which is voluntarily . . .
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