Answers
can you go to jail for credit card debt? iam about 10,000 in debt and i havent paid a payment in 7-8 months because ive been having some financial issues..can they really send you to jail?
No, there are a lot of people in your same situation, with 10 times your debt. It is the creditors fault for over extending you. They will eventually sell off your debt to a bill collector for pennies on the dollar, and then these people will harass you for a couple years. Eventually the phone calls will stop and after seven years of no contact with collectors, the debts will be removed from your credit. You are still young in the process so it might be smart to contact the creditors and set up payment plans yourself, to avoid any more damage to your credit. If your credit score doesn't bother you and you don't need a loan in the next six years, run like Bambi! This is a civil matter and they could take you to claims court, and garnish your wages, that is the most extreme, but then it would take them a lifetime to get back the money. You have not committed a criminal act, therefor you will not go to jail. If you do run, don't answer the calls from creditors, b/c everytime you have contact with them the clock resets back to 7 years.
My hero, Dave Ramsey, tells of abusive practices and the violation of Federal law incorporated by debt collectors - particularly credit card debt ...
I have a credit card I never payed and I been to court a few times to negotiate with their lawyer to pay my credit card debt. If I dont pay will I go to jail?
No. The worst that will happen is that they will place a judgment against you, garnishing your bank account or income. Don't worry, Just work out a $20.00 weekly payment plan. They will take it, especially in this economy!
Hope this could be of great service!
I ran up $40,000 of credit card bills. And a $4,000 bank loan. I currently only have $3000 in a bank not related to the loan (only relation is, that 3000 is what is left of the loan). I quit my job and than I ran up all this debt, and am delinquint on my payments for all cards and the loan. I got the loan while I had a job, but ran up the debt without a job. Also have debt with a hospitol for $6500 and its collection agency is threatening me with a judgement. Am I going to jail/prison?
No you wont go to jail. Write them and explain your situation offer a small weekly repayment with the promise of increasing that amount when you resume employment.
My b/f and I had several credit cards together. He recently filed bankruptcy but before he did we took my name off of all the cards thinking that I was only an authorized user not a joint on any of them. Come to find out I was actully a joint on like three or four of them..so my name could not be taken off. His attorny for his BR told us that we should just wait till his BR case was dischraged to see if the cards my name was on would actully do anything. His case was discharged in decemeber and so far I have only heard from one of them. It happens to be the highest credit line one of 4000.00. I receieved a letter in the mail stating that the original credit agency had refered my account to collections and that unless I notify them withen thirty days they are considering it valid and they will take me to court...I do not have a job and have not had one since my daughter was born coming up on two years ago.. so I do not have any income or wages for them to garnish.. I also do not have any assets other that a clunker car thats maybe worth 1000.00... Can they take me to jail if the creditor decideds to take me to court for sure over this? Whats going to happen ? Will they try and make me get a job so that they can garnish my wages ??? Help!!
They can't take you to jail, odds are they won't sue you either and just end up writing off the debt. They threaten people hoping that they will pay. If they insist that you were joint on the cards ask them for the application or proof that you signed. If they don't have it (most don't keep applications, only credit unions do) and can't prove that you were joint on the cards then the judge would find for you anyway (as long as you actually SHOW UP IN COURT, if you don't show then you would automatically lose). Worse case and they get a judgment then it will go on your credit but if you have nothing to take then *shoulder shrug* oh well for them.
I don't have no income and no job right now due to the bad economy where it is tough to get a job since most companies aren't hiring and debt collectors call me every single day 24-7 about my debt and I keep telling them that I don't have the money and I'm having a financial issue and they just don't care but only tell me that they will tell the credit card company that I am refusing to pay the debt. Is this a threat? Can I really go to jail or arrested for unpaid credit card debt when I don't have the money right now? I am afraid and nervous and I don't know what to do. Should I send my payments to the collection agency when I do get the money for my debt? What should I do? Please help me. I am in a financial crisis. Any good advice would be well appreciated.
You cannot be imprisoned for failure to pay a debt. A debt collector may not threaten you with jail. You have specific rights under the Consumer Credit Protection Act. The act prohibits collectors from particular actions (such as harassment).
First Credit Card | Be Smart About Getting A First Credit Card ...
In this modern time where the economy has been such a test for everyday consumers like you and me to hold up, it’s simple to get into credit card trouble when your credit obligations begin to pile up. So if you are in the position to just start learning the ropes of the world of credit cards, there are a lot of things you can do to evade credit card liability before it mounts up.
This is an outstanding goal for you if you are just getting your first credit cards. If you know or talk to anyone who is battling tens of thousands of dollars of credit card liability, you know what a prison sentence it can be. Once that credit card debt gets that high, the time it will take even under the best of conditions to bring it down runs into the years if not decades. And for all that time, thousands of dollars of money goes down the drain to credit interest that doesn’t buy you any food, tickets to the movies or new clothes. It just goes away with no value to you at all.
...News
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