Can You Be Sued For Not Paying Credit Card Debts?

Can You Be Sued For Not Paying Credit Card Debts

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When we are being pressured with great debt, the first thing that comes in our mind is "Will my creditors be able to sue me?" This is the question that most people wanted to ask when they are having troubles with paying off their credits. If you want to know whether you can be sued for not paying your debts on time, I suggest that you read this article from start to finish.

In most cases creditors can file a case against you, especially if you have failed to pay your bills within four to six months after the due date. When you are having problems with paying your debts, the first thing that you need to do is to contact the lender and ask for a term modification which will help you pay your bills easier. If in some cases, the lender does not agree, you can approach a debt settlement company to help you communicate with your creditor.

Once the credit card company files a lawsuit, they will most likely win the case. The court will order you to pay your obligations, while giving the company the rights to seize funds out of your bank accounts, and collect your wages to pay off the debt. This means that you cannot do anything to stop the collection of money even it is not favorable to you.

Fortunately, there are things that you can do in order to minimize the damage that the charges may cause. The first and most important step that you need to take when facing a lawsuit is to appear in court. Never skip the trial because this will cause you to receive the default judgment. Ask the court if they can modify the payment terms in order to make it easier for you to pay all your obligations.

If you are dealing with more than one debt, I would suggest that you get a legal expert to help you fix your funds. Do not waste your time if you are planning to declare yourself bankrupt and know the options that are available to you as soon as possible. You should only resort to this option when every effort that you have done has failed.

Filing a bankruptcy report is the worst move that you can make. This will ruin your credit ratings making it hard for you to take loans and borrow money from companies whenever you need it for emergency purposes. This method should only be done if you no other option is available for you.

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