I filed for bankruptcy two years ago. My ex was a co-signer on one of the cards. He made an agreement with the credit card company to pay a certain amount each month. After a while they told him he could no longer be on this plan and started demanding the full amount. They have now filed suit against him because he did not have the money they were asking for. THey said they would settle for $4,000 down and 1,400.00 per month, but he can%26#039;t afford that either. Does he have any options? This is the only debt he has.
What options do you have when a Credit Card company files suit against you.?
He has negotiating power. He can name the terms and they will probably accept the terms.
What options do you have when a Credit Card company files suit against you.?
He could file bankruptcy. Since this is really your debt shouldn%26#039;t you help pay it?
What options do you have when a Credit Card company files suit against you.?
can file bankruptcy is the only way out sound like if not the will sue him in court and will file for a garnishment of wages or can put a lien on the property that he owns
What options do you have when a Credit Card company files suit against you.?
This is why it%26#039;s so important to do your research before negotiate with a collection agent.
Did you get ANYTHING in writing detailing the payment arrangements on this debt? Such as the amount you would pay each month, how many months, and total amount you would pay back?
Did you follow that payment plan for at least 3 months?
If so, you can successfully defend this in court as a %26quot;debt volation%26quot; where you entered an agreement to change the terms of a previous contract. In many states, if you don%26#039;t even have a written agreement, the fact that you made 3 payments and they accepted them could invoke an implied agreement.
Discuss this with an attorney, but I think you can successfully defend this. But I certainly hope you got something in writing.
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