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I've been managing to keep up to date with payments schedules. However, I got a letter today from from my credit card company saying that it was a notice of Court Action. I had missed a payment.
What does this actually mean? Is there any hope of the reinstating a payment plan or will they take me to court? And if they take me to court what will that involve. I don't have the money to pay the debt off. I've written to them today offering a 3 month payment plan.
Any advice would be great.
court action
Hi Tixy,
Can you tell how far behind are you with your payments? If it is only a month, and if you can explain the reason as to why you were late, the creditor may reinstate your payment plan.
Can you tell what exactly is the letter stating? Is it stating that they are going to sue you, or have they already proceeded with the case?
As for the payment plan, you will have to show them and in the court the proof of your income. On the basis of your income, and how much you can really afford to pay, will the payment plan be granted.
Thanks,
Aaron