Wednesday, December 30th, 2009

I stopped paying my credit cards about a year ago, How much trouble am I going to get into?

Credit Trouble
Shopgirl asked:


I have about $18,000 in credit card debt through a few different companies. I stopped paying about $10,000 of it about 14 months ago and the rest about 5 months ago. How much trouble am I going to get into? How long until I am taken to court? Help! I’m scared!

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7 Responses to “I stopped paying my credit cards about a year ago, How much trouble am I going to get into?”

Michael K Says:
December 30th, 2009 at 2:43 pm

Why did you stop paying and I hope that you aren’t still using them. Talk to the company to work out something so that you don’t end up in court.

R. Guetive Says:
December 30th, 2009 at 6:43 pm

Well “shopgirl” you just ruined your credit. You will just get harassing phone calls and won’t be able to get credit again til it’s fixed (or won’t qualify for some jobs for that matter)

other than that you’ll be fine.

DNA Says:
January 2nd, 2010 at 7:43 am

I would definitely call them. Credit card companies can take you to court and get a judgement if they haven’t already and garnish your wages. It can take up to 18 months but they will eventually sue you for the money you owe.

Mr.Wise Says:
January 3rd, 2010 at 11:41 pm

You will definitely get threatening letters continuously from attorneys trying to collect the debt until they are paid off or an attempt by you to make payments. Rarely will they take you to court however. Eventually you will be unable to get credit for any future purchases as all applications are reviewed as to any delinquencies by banks or retailers.

mango mike Says:
January 7th, 2010 at 6:18 am

Well depending what state your in the only thing they can do is turn you over to a collecting agency and try to get you to pay. They will threaten you and ruin your credit score but I don’t think they can do much else. If you do end up in court the judge can order a judgement against you but if you don’t have the money there is not much else they can do. Some states can garnish your wages but that is not likely. If you tell them you will pay you have to only pay a very small amount per month.And when you do that there is nothing they can do. Even if it takes 50 years. Don’t worry too much you will be OK. The best thing you is call a credit consulating company and ask them what to do,many times they can reduce your debit and get you answers.

teresathegreat Says:
January 8th, 2010 at 3:10 am

I’m surprised the debt collectors aren’t banging down your door. Hiding from your problems won’t solve them – you have to face it.
A debt consolidation place might be able to help you lower or schedule your debts better.

Call the American Consumer Counseling Center – unlike a lot of those “debt solution” places, this is a non-profit and won’t take your money. They can give you some great counseling and advise you on the best options for your particular situation.
American Consumer Counseling Center or 1-800-769-3571

STEVEN F Says:
January 10th, 2010 at 12:04 pm

Mr Wise is mistaken. Lawyers DON’T send threatening letters. Those are collection agencies. If an attorney is involved, they will calmly inform you that they have already filed a lawsuit and explain how to offer them a settlement before the case goes to court. Unlike collection agents, they will actually do what they say. To steal a phrase from someone “If a lawyer says he is going to shoot you, DUCK, a bullet IS coming. You can tell a collection agent is lying because you can hear their voice.”

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