My husband just had a large balance on discover charged off. What is the worst that anyone has ever had a credit card charge off done to them? in this I mean has anyone actually had anyone take away cars/ homes/ etc for a charge off? How about Garnishments? We are unable to pay but a small amount a month at best right now, and at this point I'm not sure it's even worth it. The account is only in his name, but they have talked to me numerous times...but only after waiting until the account was in really bad shape, and way to late. I appear nowhere on the original paper work. We have nothing worth a whole lot, and the cars we have are high mileage rolling buckets of bolts. I'm so disgusted with all the creditors it's not funny, and it seems no matter how large an effort you make, it ends up being of no use. Any suggestions? Any Experience with charge offs with Large balances?
what do you mean when you say large balance??? give us a ball park figure. I have not seen anyone here say they have lost a house or a car due to credit chargeoffs, most peope would file bk before that would happen. they can't take anything unless they take you to court and get a judgement. remember credit card co's do not want real estate, they want money. the worst is that they sue and get a judgement. they would then have the ability to garnish wages. fyi, i have two unpaid judgements over two years old, no one has tried to garnish me yet.
oh, sorry 9.000. I've got a large account with providian as well, but have had heard nothing from them..no threats, no charge offs, nada. I'm mostly worried about his. We haven't gotten any money to take, and in this state (VA) I think they have to actually come to the county you live in to get a judgement they could garnish you with (although I think they can get a judgement in another state) but i may be wrong. I just wondered how far they would go with a charge off (apart from the typical idiotic harrassing)
Sweet, There are 2 cc companies that you don't want to owe a lot of money to via a chargeoff and Discover is one of them. The other is Sears. For 9k, they won't give up easily.
They have to take you to court at the appropriate court nearest where you live, in VA. Discover can be mean, but lately I've heard of them actually working with people to resolve difficult situations. They cannot take your car, your house, or any of your belongings, for a credit card debt. However, they can garnish pay - they must take you to court and get a judgment against you to do that. If you have had some misfortune in your lives, I would call Discover and ask if they have any hardship program available for you. If not, or if you don't want to do that, just lay low and wait to see if someone takes you to court. If they do, file bk. Or just go ahead and see a lawyer now to find out if you qualify for bk. If so, file and get this over with. If you are in the Richmond or Tidewater areas I can give you names of good bk lawyers.
My husband doesn't want to file bankruptcy. but well see. I'm going to send them a little every month. I've been told (though I do not know how true this is) that if you pay consistently, even a little, they really can't do anythinglegally. does anyone know?
I think that is incorrect. If you owe $20 a month but only pay $10 a month, you are in default of your agreement. I would assume if this happens, they would have legal recourse. But to make sure, why not call an atty. and ask. Most will answer a question or 2 over the phone for no charge.
LKH is correct, You can send what ever you want to the Credit Card Companys, But if it is not the required amount each month, you will get charged Late fees, be reported as delinquent each month.. Best Bet to get a lower payment is to either talk with CCCS or Call each Company individually, they may be able to stop fees, reduce interest and lower your payments.. Good luck
