Being sued for credit card?

Question

I have 3 credit cards. One i am making a $50.00 payment on once a month its down to 3,000.Another i am coming to a settlment on for 1,000.Another they are suing me for.Its in about the 3rd hands its been sold to the amount there saying it is 5,300.00.I have no other debt and am on unemployment with 2 kids.The problem is my dad whants to give me a house in IL free and clear.What should i do?

Anonymous · Accepted Answer

Get your credit card debt cleared at low interest. I was in the same situation beforea dn now I learned how to negotiate my credit card interest rates, which allowed me to pay my credit card debt off much faster. CCN Helps has an e-book going over how to negotiate your credit card interest rates in a simple step by step process.

Jeanbug · Answer

Here's what you do.
If your Dad can afford to give you a house that's free and clear, ask him if he would loan you the money to pay off these credit cards. Make some arrangement to pay him back at a reasonable amount of interest and stick to the arrangement.

If he doesn't do this, what will happen is that the minute you get that house in your name, all those creditors will slap liens against your new home. They can even force the house into foreclosure so that it can be sold to pay the bills. I'm quite sure your Dad would not want that.

I totally understand about reaching for the credit cards when you are unemployed and have no money for bills, food etc but you have simply got to stop using them once you are in this new house.

Regretful · Answer

Why do you have so much credit card debt? I don't understand what this question is asking. Are you asking what to do about the credit card debt? Well I think you already know that you need to pay the credit card companies back. It's their money. If you can't afford it, ask your father who is giving you a free house.
Or are you asking what to do about the fact that your father wants to give you a house? Well that depends. Can he afford it? Do you need it to keep your kids off the street? Would you be able to repay him one way or the other?

I don't know how you expect anyone to answer this question.

Stop borrowing money from people when you're not in a state to be able to pay it back to them. It's wrong.

CLUTCH · Answer

ur saying you owe 5300 dollars. well first and foremost i would not take the house in my house until i had that debt either declared bankrupt first. you would need to speak to a bankrupcy attorney for free and find out what are ur options and is ur house going to taken cause u owe money. this is the part where you need to speak to a attorney cause there always changing bankrupcy laws, and u need a up to date idea of what ur up against. protect ur self with knowledge. dont be foolish

Being sued for credit card?

4 Answers