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  1. #1

    Default How Much Do You Have to Owe Before a Credit Card Company Will Sue You

    My question involves collection proceedings in the State of: CA
    I have total of 2,000$ credit card debt since I got laid off from job. The credit card company keeps calling and asks me to pay off. Now, they said they've already charged off my account( which I understand they give my info to collection agency and I guess this agency gonna call me forever) . My questions:
    1. Will the credit card company sue me with only 2,000$ debt? ( I have hardship reason since I lost my job)
    2. Can I settle the debt with collection agency later in the future if I get job again?
    3. This credit card debt was before I married. Now I have joining account with husband. Will the collection follow my joining account?( I have no rights to use joining account since it's NOT my money).
    4. My name is also on the house's title since I get married, therefore both names on the title of the house. Will they follow the house as well?
    Thnks so much.

  2. #2
    Join Date
    Sep 2011
    Location
    OH10
    Posts
    17,019

    Default Re: Would I Get Sued by Credit Card Company

    Possibly yes, to all of your questions. It certainly sounds like you can afford to pay it and are choosing not to do so.

  3. #3
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: How Much Do You Have to Owe Before a Credit Card Company Will Sue You

    Charge off doesn't have anything to do with collections. It just means they've taken the accounting hit that you are a deadbeat.

    Yes they can sue you.
    Yes you can settle the matter by paying the amount due later (though it is going to continue to accumulate interest and fees).
    You have rights to use a Joint account because that's what joint accounts are. It matters not where the money came from (and in California, you and your husbands assets are community property between the two of you). If they sue you, they can take that money if they live.
    The house will be harder to attach.

    If you and your husband have money, your best bet would be to work it out among yourselves to PAY OFF THE DEBT. It's just going to get worse and the more your credit is trashed the less likely it is lenders will extend any joint accounts to the two of you.

  4. #4
    Join Date
    Mar 2012
    Location
    Georgia
    Posts
    149

    Default Re: How Much Do You Have to Owe Before a Credit Card Company Will Sue You

    I can't add much to what "flyingron" already said, because it's pretty acccurate.

    The only thing I can elaborate on is the house. It's not likely the CC co. will pursue the home in terms of a judgment lien (especiall for $2,000) because doing that gets expensive for them. If they took a judgment lien on the house, and wanted to execute the lien, they'd have to pay off the mortgage and any other liens before they could collect. WAY too much hassel when the CC co. would have much easier ways to execute the judgment. CC co.'s aren't interested in owning real estate.

    Try to work out a payment plan.

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