Legal Question in Credit and Debt Law in California

Re: What are my options and rights dealing in Credit Card laws?

You may qualify for bankruptcy assistance in which case you would be able to set up a 0% interest payment plan or may even completely wipe out the debt.

Re: What are my options and rights dealing in Credit Card laws?

Their whole game is to scare you into overnighting a bank check or money order. They cannot take any action against your assets until they get a judgment against you. They are required to serve you with court papers before it even gets that far.

Once they have a judgment, if recorded with the county recorder, it automatically becomes a lien on your home and would impact your credit, if it hasn't already. The creditor has the option of then forcing a sale. Usually, they'll just bide their time until you sell or try to refinance. Then you will have to deal with the judgment lien, which will accumulate interest at the rate you agreed to.

Thus, if the last payment (if any) was within four years old or the debt was incurred within four years(the statute of limitation for collecting on such debt), it's best to try to set up a reasonable -- not panicked -- payment plan or, at least, start paying down the principal.

Re: What are my options and rights dealing in Credit Card laws?

There would have to be a judgment before levies may be placed on your property. Have an attorney consultation to determine whether or not the case will be successful. Usually a discounted amount may be settled for. Contact me directly.

Re: What are my options and rights dealing in Credit Card laws?

Absolutely not, without an actual civil judgment against first at least. Even then, their remedies in collecting are fairly limited and would not normally lead to a foreclosure on your home, absent some "strange" set of facts to the contrary. Creditors rely on intimidation tactics, often unscrupulous ones. Your best option here would be to retain affordable legal counsel to deal these creditors at issue. Contact our Law Firm if you would like such prompt assistance.