What can credit card companies get when they sue you?
Being in the collections business, I will guarantee you that
people get sued by credit card companies everyday. What can they
get? That depends on what state you live in and what the laws of
that state permit. I know for a fact that in many cases the
defendant can be assessed with attorney's fees, court costs,
interest - nasty stuff that could have been avoided if it never
went to court. If you want to know what can happen but don't start
asking, you will run out of time. Waiting could be it's own
The last posting was probably written by a bill collector. The chances that a credit card company will sue you is very very slim. If the credit card company sells your debt to a Collection Company the Collection Company cannot legally sue you in most states. The big question is" How long can you put up with harassing phone calls and letters?? If it doesn't bother you, don't worry about it.
Sorry, but the above entry is not quite correct. Credit card debt is considered unsecured debt. That does not mean that the issuer or the third party purchaser cannot take legal action to recover monies owed. It is true that the CC company itself seldom sues but sells the account to a collection agency. Collectors do sue for any amount they can get because that is how they make money. All states allow lawsuits for defaulted debts. The issue is not if a person can be sued but what property real or personal can be seized for the repayment of the debt. That matter is where state laws differ in what can be taken, how it can be taken and what the amount can be. For example, garnishment laws differ state-to-state.
If you are enrolled with a debt consolidation program can the credit card companies sue you and take your property?
First off, the credit card company doesn't want your stuff. They won't come and take your TV or whatever you bought. Usually, if you are having a debt consolidation company divide up your payments - the credit card company won't bother you. BUT, sometimes the consolidation companies don't start making the payments when you give them the money. Sometimes, they keep your first and/or second payments as part of their fee. IF they didn't pay…
Well, the answer is yes, in general. Any company or any person can sue any other company or person for any reason. If what you mean is can a credit card company sue a person for unpaid debt, yes, they can, and they will probably win unless you file bankruptcy or seek some other type of payment agreement.
Can the credit card company sue you even though you are not a citizen of the country where you get the card?
The top 10 credit card providers are split between credit card companies and businesses that offer a credit card. Some of the credit card companies are MasterCard, Discover, Visa, American Express, and Chase. Five top businesses who offer a credit card are Walmart, Costco, Target, Macy's, and Amazon.
A credit card is unsecured which means you used the money on signiture alone they can sue you, but unless you used your home as colateral to get and use the card they cannot take anything from you. Credit card collectors will lie to you and harass you but it is all wind whatever you do do not give them electronic access to any of your accounts. You can call and ask if they will…