Delenquent Credit Cards
I went to a legal settelment group. They sold me on a settlement plan in march 2008. I've paid 700 a month being escrowed to be used in negotiations with the creditors. The minimum payment on the credit cards was over 1400 a month. 1st creditor is taking me to court 30 Oct 08. I Now understand that until the creditor accepts the plan I am viewed as delinquent? In the event of a judgement, what can the creditors take. I live in central Illinois.
Re: Delenquent Credit Cards
Sure. Just because you agreed with someone that you would only pay $700 per month does not change your obligation to the credit card company. The creditor probably will not take anything, but you may not be able to buy or sell real estate until it is paid, and the judgment will appear on your credit report.
Re: Delenquent Credit Cards
Sure. Just because you agreed with someone that you would only pay $700 per month does not change your obligation to the credit card company. The creditor probably will not take anything, but you may not be able to buy or sell real estate until it is paid, and the judgment will appear on your credit report.
