barry c asked:
Medical bills and disabilty have made it impossible for me to pay off about 40,000 in credit card debt. What can they do to me legally?
http://1mortgagecalculator.info
Medical bills and disabilty have made it impossible for me to pay off about 40,000 in credit card debt. What can they do to me legally?
http://1mortgagecalculator.info
Judgment, costs, interest, liens against real property, in some states, garnish wages, tax returns
Death by guillotine
They can get a judgement against you, and depending on your state laws, can go after your property, house, cars, wages, or any other money you come into, like an insurance settlement etc.
If the debt isn’t recent, then check the statute of limitations in your state. They can’t sue you after a certain number of years pass from your last payment or use of the card. They can attempt to collect though – but there’s no teeth in it.
For that amount of money it might be worth taking bankruptcy. Check your state laws. If you live in Texas, you get to keep virtually all of your stuff. In Delaware, almost nothing.
If you were the owner of an American Automotive Company or a Financial institution the tax payers would bail you out. If you are a regular citizen they will take everything you own and force you to pay the principal, plus interest.
don’t delay, declare yourself bankrupt tomorrow or face a very long jail term,