Credit Card Debt Options
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Bad Debt Letter
Posted by admin
on September 2, 2011
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New great question about {$KEYWORD}
Will a Credit Card company sue and garnish wages over $1500 in Bad Debt?
I know they have to contact me to sue me, but I have moved and they don’t have my new address.
Can they sue me without me actually knowing? ie send a letter to my old address, and I not receive it.
I have the postal company forwarding my mail, but haven’t received anything from them.
Every creditor is different and will respond differently to defaulted debt…..They might just charge-off this debt and sell it to a collection agency for pennies on the dollar…or they might try to get a judgment against you.
The worst case scenario is for them to send a court summons to your old address and it doesn’t end up being forwarded to your new address….That would mean you wouldn’t show up in court as you wouldn’t be aware of the court date…No show = default judgment. To be safe…I would at least forward the new address…You don’t have to give them your phone number…that way you would receive any important notices.
Why not make a pre-emptive move and offer a settlement amount of $750 to them? If you do this, get the terms IN WRITING from them prior to paying them one penny.
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