Auto Repair Credit
can a credit card company sue me for the balance of the card?
I have a credit card company that is threatening legal action if I do not pay a settlement amount. I have told them repeatedly that I am getting a second job and I do make payments when I have money but that is not good enough. I have told them that my finances are not what they used to be due to unforeseen auto repairs. Any suggestions?
If you have failed to make at least the minimum payment every month, you have defaulted on the credit card agreement. They do not have to accept intermittent small payments. There is no such thing as ‘good faith’ payments.
Since you have defaulted on the account, they can demand full payment now and sue you. They will win a judgment and can use that to garnish your wages, attach your bank account, and lien your property.
Work out a settlement agreement if you can. Lump sum payments get the best deals. Payment plans have to be very short term. Get it in writing and do not give them direct access to your bank account.
Auto Repair Financing
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