Credit Card Debt Court

I just want to know who has been summoned to court for a credit card debt in the amount of $3,000 or more from any major credit companies like Chase Bank or Bestbuy credit card?

And for how much would a credit card company will likely to take you to court?

Read your account agreement. They may not have to sue you. Look for the word "arbitration". You may have agreed to waive due process. It saves money for the card issuer, especially for smaller amounts. They call an arbitration meeting. The arbiter issues a decision that you owe the money. The creditor sends a copy of the award to your local court, which enters a formal judgment that the award must be paid. Then the creditor can attach your bank accounts and put liens on your house and car.

2008-02-19 18:02:36 by Pinto B

During these challenging economic times, millions of Americans are struggling with credit card debt. Finding an effective solution to resolving ...

we are have received a summons to appear in court for credit card debt. this debt is valid, however, we do not have the financial means to pay it at this time. my question what happens when we go to court and can we still negotiate a payment plan with the bank's attorney?

When you go to court you should be able to set up a payment plan. It will have to be an amount acceptable to the bank. Once you have it, don't miss or be late with another payment because if you are they can ask for the full amount. If you don't have it they can sheriff sale your belongings to satisfy the loan

2009-02-13 09:39:25 by DiBu

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I have a summons to court for next week for capital one credit card debt that's indeed mine and if I go or don't go the judgment will be filed against me because it is indeed my debt and I know I have to pay what usually happens at these court cases and what happens if I don't show up?

Well, if you do go you can make a case for a payment plan and try to work something out for a lower settlement.

If you do not go, they will get a default judgment for the full amount and at that point can attach your bank accounts, garnish your wages (if your State allows it) and file liens on any other property you may own like cars, boats, land and homes.

All of this will show on your credit and make it very hard to get any other type of loans without paying huge fees, down payments and State maximum interest rates.

2008-03-10 07:36:04 by imadheartyou

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i was summons for a credit card debt i have. it just says i need to go to my city court but there is no date or time or anything.... What if i dont go?

Something is wrong here a real summons would not only have a date and time but would also list a case number.

If I were you I would call your local court clerk and find out if this is real and if it is where is the rest of the required information.

If it turns out to be real, then if you don't show up they will win by default and you will have a judgment against you. This means they can attach bank accounts, garnish wages (if your State allows it) and file liens on any real property you may own like cars, boats, land and homes.

Try and settle before you go to court (if it's real) this way you will avoid the judgment showing up on your credit.

2009-04-17 12:36:15 by Jim

my boyfriend (of 5 years, we do not live together) has recently had a court summon b/c of delinquent card payments. Shouldn't he at least attempt making some sort of payment on the card before his actual court date? Wouldn't this show he is trying to pay? He is so broke it's not even funny right now because he doesn't work many hours after being laid off of his other job.

Essentially, what smart steps does he need to take? He is clueless.

OK, 1st i am shocked that they are going after him not having an income, assets.
how old is the debt? if it is like 1-3 years it is more than likely the original credit card company going after him. this is a bit more tricky, what they do is get a local attorney "us ally in a bigger city" file lawsuits everyone that owes them money. If this is the case show up to court explain your situation to a judge, work out a payment plan.
IF it is over three years old it is more than likely a collector ownes the account NOW you should get a lawyer involved. these people buy that old debt for pennies on the dollar. What an attorney will do is to see if the SOL is expired, meaning the time frame they can file suit. they will also file a motion of discovery meaning that they will have to provide all documents proving the debt is yours. original contract signed, most of these junk debt buyer don't have that info. There thoughts are thinking that you are not going to show up to court, then they get a default judgment.

2007-01-05 20:51:33 by zombiefrog