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I have some debt on my credit cards (in total over $50000)
I cant make the payments (Jobless) actually, I am 5 months behind the payments and they are calling me and inform me that it will be charge off
My question is : If I leave it alone( I dont pay) how long does it take to Judgement?will they sue me? Im living in California and the SOL is 4 years.
Best Regards,
Sha
there is no question about why they will not sue you? rather i will tell you that you should be well prepared to defend yourself in order to safeguard your stance.good luck. :wink:
More questions
I know after 6 months it will be write as chargeoff (all debt on credit cards), how long after that I should expect the Judgement? 1year? or more?
My second question is:If my spouse has a house, will they (Creditors) take it? The house owner is my spouse. We bought it a year ago. Are creditors able to ask the court to take some assets that belong to my spouse?
Thanks,
Sha
if and if only you are a co-owner of the house along with her or in the case if any person is gurantor for the loan of the another person then only bank can get the money recovered from the gurantor's pocket otherwise not.
how long after that I should expect the Judgement? 1year? or more?
nobody can predict how long the battle will go on !! i hope that it should end very soon.
thanks :wink: