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What is the max they can do to us?


BeatingMS
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Hello everyone - I am a newbie so please be patient and kind. :)++

In November 2005 my husband's job went to India along with the medical benefits. He had been there 10 years. I am on full disability from social security. He was out of work for seven months. That took up ALL of our savings, money market and 401k and we did the classic NO NO and got cash advances on the credit cards.

We kept everyone up to date until May when we went under Credit Solutions. We honestly thought this as the best way to go. We are over $30,000 in credit card debt.

Now here is my question to you experts:

As I understand it, the law stipulates that they cannot garnish wages in South Carolina and they cannot garnish Social Security checks. Can they still sue us and get judgement to freeze our bank account that has my SS check automatically deposited in it?

What if we just become jerks and not ever settle with them?

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Hello BeatMS,

We also went with CreditSolutions. BIG MISTAKE!!! We did drop them and now here we are with nothing but trashed credit!!! I did turn them into the BBB and got a full refund. I am sorry for not being able to answer your question (I myself am fairly new to this also), but no one here thinks thinks your a jerk.

However, we as people, that are in this situation feel like losers. But, in the last couple of months I keep telling myself that this is the best we can do for right now and better days are to come.

You need to just read, read and read this forum to learn as much as possible.

Take Care,

Worried

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Okay, well http://www.carreonandassociates.com/articles/collectionlaws.htm#South_Carolina

would seem to concur that you're safe from garnishment, but, as for grabbing your bank accounts, I'm pretty sure they can do that almost anywhere. It may not be 100% legal, and, if it happens, you could probably fight it, but of course that would be a big hassle and would probably cost you some money.

We're kinda in a similiar situation...lost our company, big CC debt, etc. We wound up filing BK to cancel out all the debts. It took me about 2 years to find work, and what I found is at about 1/3 the pay we were making.

I'm thinking the bad news is, as far as you guys are concerned, is you seem to only have a couple choices...

1. Do the "wait until your creditors are about to sue, then try to get a settlement" gaime. You might be able to settle for 40-60% of the debt, but, not all creditors will play, and your credit winds up trashed.

2. Do the "DV, and wait for them to screw up, and then sue" game. Again, doesn't work in all cases. If it does work, your credit isn't so bad, and you can make money at this...but...it takes a lot of hard work and some luck to make it happen.

3. File Bankruptcy. Unfortuneatly, if you have any income at all, it would probably be Chap 13, and it does put you in hock for a long time. You might talk this over with a local lawyer...most will give you a free consultation to discuss options. Talk to several until you find one you're comfortable with...

Note that I can tell you from experience...it ain't gonna go away, and nobody has a magic wand to make it disappear. Be careful of the "debt-fixers"...

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Okay, more questions.

1. Credit Solutions has sent us from the upper 600's to the lower 500's in less than six months. So I don't think any more damage can be done to our credit score can they?

2. Three of the credit cards were given to me alone. They were pre-approved in my name only. Hubby isn't even an authorized user. When I signed up for them, the only question asked on the card was "What is the total household income?" and I included his. Those credit cards were issued to me AFTER I had been on Social Security disability. Will that have any bearing on this?

3. We also are not in a position not to negotiate a settlement with anyone yet. The job Hubby got is only 1/2 of what he was making before but beggars can't be choosers. I don't understand about doing a DV and waiting for them to screw up and then sue game. We are talking about people like Sears, Home Depot, Capital One to name a few.

Please remember, that until I ran accross yall I thought when you made a debt, you just paid it. I had NO idea there was such a thing as a Statue of Limitations.

Thanx for all your help!:confused:

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1. Credit Solutions has sent us from the upper 600's to the lower 500's in less than six months. So I don't think any more damage can be done to our credit score can they?

Probably not. Just assume your credit scores are shot until you get some other things taken care of...then you can thing about rebuilding...probably in a couple of years.

Three of the credit cards were given to me alone. They were pre-approved in my name only. Hubby isn't even an authorized user. When I signed up for them, the only question asked on the card was "What is the total household income?" and I included his. Those credit cards were issued to me AFTER I had been on Social Security disability. Will that have any bearing on this?

Probably. I think SC is a community property state, so I think you're both in this together.

3. We also are not in a position not to negotiate a settlement with anyone yet. The job Hubby got is only 1/2 of what he was making before but beggars can't be choosers. I don't understand about doing a DV and waiting for them to screw up and then sue game. We are talking about people like Sears, Home Depot, Capital One to name a few.

Yeah, I know the feeling. Been there, done that.

So...what's gonna happen is...you cancel the "debt fixer", and you start getting nasty calls (some may already be happening, since fixers don't have contracts with all creditors). At first, the calls are from original creditors (OC). You can't do much about those...they can legally be as nasty as they want. Eventually, you'll get calls from dollections agencies (CA)...those people are regulated by the FDCPA (see the link at the top?). They'll misbehave, and screw up...they're generally not too bright. Read the forum here on how to deal with them. Use the "debt validation" (DV) process...etc. If you keep notes, and maybe record phone calls, you might catch them in enough screw ups to make money off it. It might not make the underlying debt go away, but, you'll at least be fighting back.

One of the things you have to get over (it took us a long while, I'm still not sure I'm cured) is beleiving that this is all your fault. I'm sure you guys didn't try to lose your job overseas...lots of this was beyond your control. Just learn to deal with the problems, and stop blaming yourselft for it all.

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