What happens?

iVillage Member
Registered: 04-09-2008
What happens?
12
Wed, 12-31-2008 - 12:26pm

Can anyone tell me what happens when you are sued by a credit card company?

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iVillage Member
Registered: 04-10-2003
In reply to: loonyt
Wed, 12-31-2008 - 12:33pm

Hi there,


I'm so sorry to hear about your situation. May I suggest posting this question on the Debt Questions and Answers Board? There is a lady there named Carolyn who is very knowledgable (spelling?) about these things. You may even want to write "Carolyn Help" in the title.


All I have to offer you is cyber hugs!


Bex -


"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."


Bex -

iVillage Member
Registered: 03-17-2003
In reply to: loonyt
Wed, 12-31-2008 - 1:57pm
If you are served with papers that Discover is suing you, you should definitely file an answer.
iVillage Member
Registered: 07-05-2006
In reply to: loonyt
Wed, 12-31-2008 - 2:06pm

I was sued by a credit card.

iVillage Member
Registered: 04-09-2008
In reply to: loonyt
Wed, 12-31-2008 - 2:23pm

Thank you for answering me.I wanted to tell you that I

iVillage Member
Registered: 04-09-2008
In reply to: loonyt
Wed, 12-31-2008 - 2:28pm
Thanks for your response to my question.This is one of the worse things that I ever had to go thru with money.I see what you had to go thru and it was a hard journey.I guess there are more people in the same boat and this site is great to make you realize you are not alone,and are not judged by your mistakes.Thanks again!
iVillage Member
Registered: 03-17-2003
In reply to: loonyt
Wed, 12-31-2008 - 2:44pm
Part of a lawyer's job is to play hardball.
iVillage Member
Registered: 09-01-2008
In reply to: loonyt
Wed, 12-31-2008 - 3:00pm

My understanding is that they can take 25% of his income. My husband owns a business and his employees have had garnishments up to 25%. Here is a link that discusses garnishment......

http://www.dol.gov/compliance/guide/garnish.htm

Hope this helps a little!!

Kim

iVillage Member
Registered: 12-21-2004
In reply to: loonyt
Wed, 12-31-2008 - 3:23pm

My husband was sued by Citibank - it has been about 6 months ago now.

iVillage Member
Registered: 04-09-2008
In reply to: loonyt
Thu, 01-15-2009 - 8:01am

Hi Carolyn,


I just have to ask one more question.


I had forgotten that my husband and I are in a life estate on our son's home.We sold him our home when we couldn't pay the bills.We do have to pay him rent now since he cannot afford the payments on it.


I know life estate means that we can live here till we die or move but now I am worried our creditors who are suing us can do something to our son.Do you know what it involves when you are in a life estate,yet getting sued by creditors? Noone seems to know much about this.

iVillage Member
Registered: 03-17-2003
In reply to: loonyt
Thu, 01-15-2009 - 9:11am

Yes, the residence is a non-exempt asset.

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