Legal Question in Credit and Debt Law in Pennsylvania

consumer credit rights

Dear Sir/Madam,

I am writing to ask some information. I will keep it short and sweet as possible as instructed. I am in credit card debt and am defaulting on it because my earning power cannot tackle the 21k that I am in. I am 28, I live in an apartment and I own my car. I have one credit card account with Juniper Bank with $15,000 on it and one with First USA with $5600 on it, and I have no student loans. My income for 2000 was $8261 and $3365 so far for 2001. This due to bouts of unemployment. The funny thing is that NEITHER of them verified employment or income, after I said on the application I made more and granted me these high limits. They wonder why people get in mountains of dead end debt. So basically, what can I expect as I approaching the point of delinquency? If I default, am I TOTALLY free and clear in seven years? What should I know?? Can they sue me? Any suggestions or recommendations? What are my rights and how can I find out? I would like to avoid bankruptcy if possible.

--name removed--

P.S. I am a resident of Pennsylvania.


Asked on 6/13/01, 1:15 pm

1 Answer from Attorneys

Re: consumer credit rights

I would not count on the creditors just forgetting about you. They will pursue you and eventually file a lawsuit and try to enforce a judgment against you. You may need to file for bankruptcy. People living in Lehigh, Berks, Lancaster, and the five-county Philadelphia area would file in U.S. Bankruptcy Court in Philadelphia.

This is general information for discussion purposes. Please feel free to contact me if you want to discuss your individual situation.

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Answered on 6/28/01, 2:28 pm


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