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  1. #1
    Join Date
    Dec 2006
    Posts
    20

    Default Sued for Credit Card Debt

    Here is my situation. I have a huge credit card debt. I have just received summons stating that I have been sued by one credit card company (there are several others to whom I owe.). What are my options now?

    1. Is there any benefit of defending the debt that I owe? Or should I just let them have default judgement?

    2. At this moment, I have practically no income. I don't have any assets except for an old car (2k to the most.). I can't make any payment arrangements.

    3. I am graduating this December, and chances are that I shall be offered a job with a good salary.

    So please tell me. Is it wise to file a bankruptcy? Would it affect my job opportunities? Does a judgement also effect the job search?

    Also as a foreign student, would there be any problems from bankruptcy or judgement?

    After judgement, how they will collect debt from me?

    Sorry for so many questions. Any help would be highly appreciated.

    And yes, I am in Columbus, OH and my job would be in Michigan.

    Thanks.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Sued for Credit Card Debt

    1. That's up to you. If you owe the money, you can reasonably expect that they will win. If you don't do anything, they will get a default judgment.

    Bankruptcy can affect your job prospects, if your employer will be running a credit check. But so can a lot of debt and outstanding judgments. This is probably the best time for you to declare bankruptcy, as you should qualify for Chapter 7 protection, so consult a bankruptcy lawyer.

  3. #3
    Join Date
    Dec 2006
    Posts
    20

    Default Re: Sued for Credit Card Debt

    Thank you very much for the advice. I have been reading some articles about Bankruptcy and have learnt that it costs around 1000 dollars (court plus attorney fees) to file for a bankruptcy. However, it is not possible for me to arrange this much money?

    What should I do in this case?

    Thanks again.

  4. #4
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: Sued for Credit Card Debt

    If you wish to file for bankruptcy protection you can either (a) hire a lawyer to assist you, or (b) attempt to file yourself without the assitance of a lawyer. You can explore these resources to see if you are eligible for any form of legal assistance.

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