A friend asked me an interesting question today - if someone stops paying on
a credit card, how often would they actual attempt to get a judgment?

I didn't want to pry, but I know he is going through a divorce and likely is
having some problems.

Any experiences here?

On Sun, 06 Jul 2003 00:55:58 GMT, "todd" <tfeller\NO SPAM\@columbus.rr.com>
wrote:
A friend asked me an interesting question today - if someone stops paying ona credit card, how often would they actual attempt to get a judgment?I didn't want to pry, but I know he is going through a divorce and likely ishaving some problems.Any experiences here?

It all depends on the situation. If you are hit by a drunk driver and left
cripple and make or receive very little money then you can pretty much write a
letter and the Credit Card company will most likely write off or charge off the
account. However, if you own anything or have a job they will sell your
account(s) to a collection agency and that collection agency can file a civil
action in court that will either force the person into bankruptcy or they can
seize property and/or garnish wages.
Of course, if you default on several cards your credit is pretty much screwed
for the next seven years.

Good Luck.

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"Keith" <kilowattradio_spam@earthlink.net> wrote in message
news:be8hf00fsv@enews3.newsguy.com...A friend asked me an interesting question today - if someone stops paying
ona credit card, how often would they actual attempt to get a judgment? It all depends on the situation. If you are hit by a drunk driver and
left cripple and make or receive very little money then you can pretty much
write a letter and the Credit Card company will most likely write off or charge
off the account. However, if you own anything or have a job they will sell your account(s) to a collection agency and that collection agency can file a
civil action in court that will either force the person into bankruptcy or they
can seize property and/or garnish wages.

historically, people basically did not get sued on credit card debt; my
understanding is that they are suing more frequently these days .. I don't
have any precise numbers ... I doubt that it's very high since they know
that most people who aren't making payments just don't have any money so
what's the point of the suit ? could well be to set an example ...
Of course, if you default on several cards your credit is pretty much
screwed for the next seven years.

default on one and your credit is pretty much screwed ....