Can a credit card company sue you for not paying the balance in full when the tell you to?

After some rough financial times, I defaulted on the card and it went to a collection agency. I made payments automatically for a while then they offered a settlement. I couldn%26#039;t afford to settle. They stopped taking the payments out of my bank account, now another company called to tell me they%26#039;re going to sue unless I settle. I want to know if I have any rights.

Can a credit card company sue you for not paying the balance in full when the tell you to?

Just curious....you state that you %26quot;made payments automatically for a while%26quot;...

Did you stop making payments?

It sound to me like you already had a repayment plan, and now for some reason they are canceling it and demanding a full settlement? Is that correct, or did you miss payments?

If you were making payments as agreed, they must continue to accept them until the debt is paid. This is called a %26quot;volited%26quot; contract, meaning that you both had an agreement on how to pay the debt. They can%26#039;t just change it again without your knowledge and consent.

I would suggest first contacting the original creditor and explain the situation. In the mean time, continue to send in your payments that you were making. If they refuse, I can advice you of how to proceed.

Gather all of your payment records in the meantime.

Can a credit card company sue you for not paying the balance in full when the tell you to?

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speak to a bankruptcy lawyer|||They can pretty much do anything you let them. . .they have money. . .they think they%26#039;re a law to themselves. You%26#039;ll need an attorney . . .OR. . .go to a place like Consumer Credit Counselling Service. . .they%26#039;ll help you set up a way to pay it off and talk to them for you sometimes.|||You can do two things: The first is to call them, tell them your financial problems and hope that they will be sympathetic. Let them know that you can pay them X per month but no more. If they say yes, then they will draw up a settlement agreement that you will have to sign and obey.

If they say no, tell them that since they are unwilling to work with you to pay off the debt, you will have to seek the advice of a bankruptcy attorney. (In MOST cases, they would prefer to get SOME money out of you than NO money out of you.)

Good luck! I know how hard it can be to have debt collectors calling you. I wish you the best!

P.S. If you go to a credit counselor, PLEASE BE CAREFUL, I have known more than a few people who have had money stolen from them by %26quot;CREDIT COUNSELORS%26quot;. Do your research before committing to a credit counselor.|||Hi there,

There is absolutely nothing to fear on this issue. Once the financial institution feels they cant retrieve anymore interest from you, this is the time they hand it over to the collection agents which is actually better for the customer if he doesnt have the finances to clear the card.

Once it goes to collection their only responsibility is to see if they can get some money out of you. Suppose 10,000 was the amount you ***** pay to the card issuer and went to collections. Assuming you are ready to settle the card with collections for just even 3,000. the collections wudnt mind that as 60% of the amount collected from customer by collections dept is theirs and only remaining goes to the respective card issuer.

So what i suggest is u need not pay any interest to collection dept. Tell them u r ready to settle the card for a particular figure u can afford say even 1500 only. u can induce an uncertainty in them by even tellin them that ur leavin town and b4 u leave u wanna make some sort of payment thast all. they wud definitely oblige to collect whatever u r willin to give. but when ur doing this make sure u get a settlement letter from the collections issued by the financial instituition that gave u the card.

no one can take any legal action against u especially a 3rd partywho has not even issued a card to u . these are all gimmicks to collect some money. dont be scared. u boldly hold ur grounds. no need to meet any credit counsellor also.

All the best. read this very carefully and understand ur stand in this scenario...simple....Take care

PS: now that the collections r takin interst frm u.. ibeleive already ur name wud be with the credit default dept which cud in the future affect u takin some loan if need be...thats all..no other issues of concern...

%26lt;%26lt;%26lt;%26lt;%26lt;%26lt;%26lt;%26lt;SO RELAX%26gt;%26gt;%26gt;%26gt;%26gt;|||Why did they stop the automatic payments? Try to get that set up again. The credit card company is within its rights to sell your delinquent account to a collection agency. If the collection agency doesn%26#039;t collect the amount due from you, they are within their rights to sell your account to a law firm who will then make one attempt to collect from you, then sue you for the total amount due, plus the maximum amount of interest possible, plus 25% of the total as attorney fees, plus the court cost for doing so. They can take a judgment against you and record it into the mortgage records, placing a lien on you or any property you have and making it possible for your wages and bank accounts to be garnished. Offer them a settlement if you can, offer to make payments, or file for bankruptcy. Those are your only options.