QUESTION
The collection agent from HSBC send a demand letter to me.
Asked on Jun 21st, 2012 on Business Law - New Jersey
More details to this question:
He said, wants to file a case against me due to non-payment of outstanding balance of my account for HSBC Credit Card. My question is, what type of case that applicable to file? Is this Criminal or civil case? If criminal case, what offense and punishment by law? If it is this civil case, what is also the offense and punishment? I can not fully paid my account due to circumtances I experienced for natural calamity and for my health problems so our financial is really affected.
1 ANSWER
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Failure to pay a debt when due is a civil matter. It is not an "offense" and there is no "punishment." The creditor's remedy is that it gets a court judgment for the amount you owe. That judgment can be executed against your property and future income.
Answered on Jun 21st, 2012 at 3:59 PM