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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2815
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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I owe a credit card company about $5000 total. I was out of

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I owe a credit card company about $5000 total. I was out of work for over six months without unemployment and could not make payments. I have been recalled to work and would like to work out a plan to pay off the debt. Unfortunately, it is with a collection agency now. Here is my question; Can they sue me to collect? I don't have any real assets or saving right now. They have stated they will put me on a three month payment plan but I know I can not make that high of a payment. I offered to pay a lower amount and they threatened to sue me
Hi and thank you for your question.
They always have lawsuit as a collection tool. If you take steps right away, you can usually avoid that. Call them to discuss settlements with them, or you can turn to an outside agency to help you if you can't make progress with them. A chapter 7 bankruptcy can help discharge it to stop them completely too as a last resort, even after suit.
Customer: replied 6 years ago.
O.K, so they can sue me. Does that mean they can attack the little saving I am trying to accumulate or even go after my wifes assets? Guess I'm not sure what they would be trying to accomplish by suing me. I'd imagine it would be to get a court to order payment? Am I on the right track in my assumption?
If the debt was joint, they can sue either/both and go after those assets. Each state has exemptions for assets, it isn't too much. They can garnish wages until it is paid too. You are correct in that it would be thru a court order. If you start to make payments, they'll most likely accept them too!
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