Discussion on 'What will happen if you do not pay your credit cards?'

(4) On February 27, 2008 at 04:58 am MartinMaliga [6] said:

If you do not pay your credit cards the original creditors will write the loss off on their taxes and sell the debt to a collection agency for 10 to 20 percent. Sometimes the original creditor will place the debt in their own collection department depending on the size of the company, nevertheless, they still wrote it off. Now you have a collection agency contacting and harrassing you and telling you they are calling you from the original creditor. You can force the collection agency to discontinue calling you with a "Cease and Desist" letter. If the debt it larger than $5,000 then the collection agency could put a lien against your house (if you own one).

www.perfectcreditcompany.com

(3) On November 29, 2007 at 11:54 pm Yorkielove [1] said:

WHO to believe? I have not paid on my credit card debt in almost 2 years and now Capital One whom I had 3 accounts with sent me a Certified letter on each from my home town stating they had filed in Civil Court and I have 28 days to respond to them on this debt. I called my town's Municipal Court house and yes its real- they attached this letter called "exhibit B" which in very tiny writing states you will be taken to court if you do not pay and you will pay all court costs. Obviously I have never seen this but with my research on the internet if a credit card company can prove you own the debt and that you make enough to pay for it they can and will win a case against you. I always thought credit card debt is "unsecured debt", I have an appointment with an attorney to discuss Chapter 7 can't do Chapter 13 it cost $3000.00 who has that!! I'm worried I now make too much money and I did file bankruptcy back in 1996. We shall see what happens.

(2) On June 09, 2006 at 6:08 pm Macky [3083] said:

All Social Security benefits and most private pensions are exempt from creditor judgments. The poster might wish to contact their state's department of senior services to learn what assistance might be available to the involved parties.

Also consulting the Fair Debt Collection Practices Act might be helpful in dealing with aggressive collection agencies.

Note: Macky moved this to the answer of "Can senior citizen's Social Security and pension benefits be garnished for non payment of credit card debt?"

(1) On June 08, 2006 at 9:09 pm Mitrav [19] said:

I actually just have a question if anyone can help. My parents had a credit card that they did not pay on. My mother had gotten sick and so my dad took over the bills and he did realize this bill. They never heard from the credit card company in the two-three years since my dad took over the bills. Then a company that purchased the debt from the credit card company started calling my parents up and are trying to bully and threaten them into paying. My question is, both of my parents are in their 70's and live off of social security and a pension. Can they come after either of these checks? Thank you anyone who has the answer to this. These people have been really nasty and aggressive to my parents and I would love nothing more than to tell them off.

Note: Macky made this into a new question at "Can senior citizen's Social Security and pension benefits be garnished for non payment of credit card debt?"

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