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  1. #1
    Join Date
    Mar 2006
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    Bradenton, Florida
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    Default Credit Card Suing For Nonpayment

    My mother has a credit card company that says they will sue her for non-payment. The balance is about $4000 on a credit card that had a $2500 limit. She can't pay any of it. She's afraid they'll try to take her house. I don't think she can file bankruptcy since she did only 4 years ago. What should she do? My father and her are thinking about doing consolidated credit.

  2. #2
    Join Date
    Sep 2005
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    Default

    You mean, a debt consolidation loan?

  3. #3
    Join Date
    Mar 2006
    Location
    Bradenton, Florida
    Posts
    2

    Default

    it's a program called Consolidated Credit, they put all of there credit cards into one monthly payment and have all the creditors agree to lower their interest rates and take away fees

  4. #4
    Join Date
    Sep 2005
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    Behind a Desk
    Posts
    98,846

    Default

    Ah. You mean a credit counseling program. If your father's credit is okay, he should be cautious about jointly entering a program, as participation in credit counseling can have a very negative impact on your credit rating.

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