QUESTION
What can I do if I can't pay my credit card debt?
Asked on Dec 04th, 2012 on Bankruptcy - Utah
More details to this question:
I received a letter from an attorney stating that I owed $$ amount on a credit card from back in 2003. This is the first time I’m receiving any letter of such dispute since 2003. I remembered having a credit card with that account, but I also remembered paying up on all my bills right before the Creditor went out of business and been replaced by another one. They gave me one month to dispute the validity of this debt, or any portion thereof, they will assume the debt is valid and take further step. I have lost my job since then, and the one I have now, barely makes enough for me to keep a roof over my head. What should I do? I do not have that amount of money to send to them, and I’m afraid that they will my paycheck and put a freeze on my account. HELP!
1 ANSWER
If you believe that you owe the debt, the best option is to contact the creditor and explain your situation. They might be willing to work with you and allow you to make smaller payment over a period of time. If you believe you do not owe the debt, you need to dispute the debt. In either case they cannot freeze your bank account or garnish your wages until they court judgment against you. It is important to respond to any court summons you need. Depending on the size of the debt, you may want to hire an attorney to help you.
Answered on Dec 06th, 2012 at 1:55 PM