Texas Credit Counseling Laws
I am 64 and disabled and on S.S.D.?
I have been in contact with Credit Counseling over a doubled credit card payment this month. All of my finances, bills, possessions, etc. reflect that if I walk out on this credit card debt, I basically am judgment proof. Done all I can. Now I can’t. What are the laws in Texas regarding what a company can do to me it I walk out on this debt. CC felt very bad that they could not help me, and told me this.
There is really nothing they can do because it is unsecured debt. Often times, they won’t even pursue mediation. If they do, they could win a judgment and place a lein on your home, if you own one. Even then, they will never see a dime unless you want to sell your home. In that case, the debt must be paid from the proceeds.
Sometimes, you can send a formal request to the credit card company that they provide evidence of the debt or remove it from your credit record. Sometimes they do not have the records to prove the debt was incurred by you. But, that’s really just a shot in the dark…
New Credit Card Law Takes Effect
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