choosymom Posted October 1, 2004 Report Share Posted October 1, 2004 I realize that a lot of the things I "know" about judgements are assumptions. So... I'm wondering. If Credit Agency purchased my charged-off debt from MBNA, and won't settle for what I can afford, they might sue me and obtain a judgement- if they can prove I owe the debt??The Credit Agency isn't allowed to ask for more than the original charge-off amount, unless they ask for attorney fees after taking me to court??Since I'm unemployed, will the judgement just sit on my credit report until I am employed??Since my husbands name is not on the account, they can't make him pay??I'm new to this, sorry if this is all covered somewhere I haven't been yet. Point me in the right direction, please!! Link to comment Share on other sites More sharing options...
LadynRed Posted October 1, 2004 Report Share Posted October 1, 2004 If Credit Agency purchased my charged-off debt from MBNA, and won't settle for what I can afford, they might sue me and obtain a judgement- if they can prove I owe the debt?? They can get a judgment for very little proof, so if you want to make them PROVE, really prove the debt is yours you'll have to go to court and challenge them. Otherwise they will just get a default judgment w/o anything more than the statements in the lawsuit that says you owe.The Credit Agency isn't allowed to ask for more than the original charge-off amount, unless they ask for attorney fees after taking me to court?? Nope. They can and do collect the orignal amount PLUS tons of interest, attorney's fees and court court costs. Then the judgment itself sits and accrues interest as long as its unpaid. Average is 10% per year!Since I'm unemployed, will the judgement just sit on my credit report until I am employed?? Depends. Do you own a home ? Do you have any non-exempt assets or bank accounts ?? There are other methods they can use to collect if they can't go after your wages. Judgments hang around for a LONG time, so even if you have nothing now, youmight have something they can go after in the future.Since my husbands name is not on the account, they can't make him pay?? Are you in a community property state ?? If not, then the answer is NO, they cannot make your DH pay. If you are in a CP state, then yes, they could go after DH. Link to comment Share on other sites More sharing options...
choosymom Posted October 1, 2004 Author Report Share Posted October 1, 2004 Thank you, LadynRed.Quote: The Credit Agency isn't allowed to ask for more than the original charge-off amount, unless they ask for attorney fees after taking me to court?? Nope. They can and do collect the orignal amount PLUS tons of interest, attorney's fees and court court costs. Then the judgment itself sits and accrues interest as long as its unpaid. Average is 10% per year! I guess my question was about right now... When the Credit Agency calls or sends letters, the amount keeps increasing. I understand that they would get more with a judgement, but are they allowed to ask for more than the charge off right now?Are you in a community property state ?? If not, then the answer is NO, they cannot make your DH pay. If you are in a CP state, then yes, they could go after DH. Nope, not in a CP state, so that's good.(Obviously, I'm hoping it doesn't come to a judgement against me, but I wanted to be clear on what it would mean if it did.) Link to comment Share on other sites More sharing options...
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