Sep
01
2010
If Credit Card Companies Sue You During Debt Settlement
Posted by in debt settlement, tags: Card, Companies, Credit, Debt, During, Settlement
www.CreditCardReliefFormula.org What happens if a credit card company sues you during debt settlement? It is easy to settle your own debts often for a dime or two on the dollar. Creditors do not often sue you. But if they do, here’s what can happen…and you will be absolutely shocked.
You should never even attempt to settle you’re cards, I work for a bank in there collections department, as far as settling you’re cards… sure you get to write off 40/50/60% off the card, but you’ll have to report that on you’re 1099c forms as income, which you will pay tax on, then we come to you’re credit score, once you’re card is settled it will reflect as settled which will classify you as a high risk borrower in which will make it difficult living in a almost credit based world
Fantastic Video!!! You’ve done a great job!!! Also watch my videos
Good info. It is possible to fight these cases, and it helps if you know what you are doing.
Validating a debt is a very important thing when it comes to paying your debt. A debtor must be absolutely sure that he/she actually owes the money before making any payments. You could lose precious dollars unnecessarily if you are not cautious. Don’t get intimidated by what a debt collector says. Do what you have to do and then pay off the debt if it is a valid one.
GOOD INFORMATION THERE….I CAN USE IT FOR SURE
this video is great! it is all true. i know for a fact the information is true. but you have to make sure the judge dismiss the case w/o prejudice.
4:12 just a thing thats settled? You sure? Please Mr. Smartass, explain to us what obligates the creditor to settle with you? The creditor can get pissed off that you tried to put him through this bull shit, demand full payment with interest, court fees AND ATTORNEY FEES and garnish you, put liens on your property, garnish your bank accounts and much more.
thank you, very, very helpful video!!
Due to the recession, credit card companies are now offering bail-out programs. To see if you qualify, visit us @ debt-freesolutions.blogspot.com
Due to the recession, credit card companies are now offering bail-out programs. To see if you qualify, visit us at debt-freesolutions.blogspot.com
Thanks very much for this helpful information! What you said in this video really could save my life financially! If I do get sued, I will definitely file an answer and go to court on it asking the creditors to prove that I was the one who in fact incurred the debt and signed the cash advance checks. Thanks again!
This is a good start to the debt settlement conversation.
There are a lot of unscrupulous companies out there.
I used a company called Consumer Recovery Network that charged me $1150 to settle $130,000 of unsecured debt. It took 6 months and my final settlement amount was $40,000 or 28 cents on the dollar. Their fee of $1150 was minuscule compared to other companies whose fees were on average $10,000..or more!
I am blogging about it at debtsettlementstory (dot) com
fda
dnt read this(cuz it really wrks). u will gt kissd on the nearest frieday by the love of ur life. 2mara wll b the bst day of ur life hwever if you dnt post ths comment 2 at least 3 vids u will die withn 2 days nw uv startd readn this dnt stp
@zliminator
Someone once said, we don’t need everyone to wake up…just a few of us will be sufficient to get things rolling. Let these sheep carry on living in their dream world!
EVERY ONE SHOULD CUT UP THEIR CARDS AND SHOW THE BANKS THAT THEY NEED US!!! DON’T KEEP PAYING THESE FEES PEOPLE. i CUT MINE UP! NOW GO TO YOUR WINDOWS AND OPEN THEM UP AND SHOUT I’M MAD AS HELL AND I’M NOT PAYING IT ANYMORE, DO IT NOW AND TEAR THOSE CARDS UP TODAY!!!!!!!!!!!!!
HEY MORTGAGEMAN420 – we, our children and grandchildren will be complete slaves for decades to work off the debt we now have. Go back to your dopey, dreamy world of 420. You can do your own surgery on yourself!
Cyber – not when you get 80 percent of the debt because you get killed in a divorce……..
I agree it’s one thing having debt and agreeing to pay it. It is another thing when your agreed 5.9 interest goes to 29.9 for no reason. Never made a late payment and perfect history.
That is another matter and a reason new laws are coming into place.
@Velcroisaripoff – You are the one speaking bull. You have the debt because you spent money you didn’t have!
Debt settlement is a scam.. call attorney generals office and RUN ….. rip off
Gov’t Data is a lie and a fraud in cahoots with the Blankfein’s of
WallStreet, manipulating the “American free market”,
high frequency trading, flash orders, naked short selling, on and on
The Goldman’s and Gov’t are in bed, setting the rules to benefit the few
Jobs been exported your labor de-valued to Zero to screw you into debt
Walk away from your CC cards and (underwater) mortgage
FICO scores are a scam to enslave you and keep you in debt
Get out of paper. Don’t be sheeple. Fight back!
One part where you might be off is when they win in court, because they can garnish if they win.
HOWEVER,
Often, the CC companies are just looking for a default judgement, and if you answer them and fight back, as you stated correctly, they won’t go after you.
You will be at the bottom of the their shit list, and SOL will save you eventually.
Smart man here.
Good job.
signing check thing? file ch 7
File bankruptcy .The whole system is going to collapse anyways and your credit won’t mean anything.
ch 7 you would have paid back 0% . Yeah your credit score may be a little better but who cares the banks are going to collapse and credit will only be for suckers who want to pay 30% interests rates