Legal Question in Credit and Debt Law in Florida
credit card debt
If you cannot pay your credit debt, what can the credit card companies legally do if the person does not own anything?
1 Answer from Attorneys
Re: credit card debt
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A judgment can be obtained. Once isssued, a certified copy can be recorded in the public records of the county in which you reside and will remain valid for ten (10) years. It can be renewed for one (1) additional ten (10) year period.
The judgment will seriously affect your credit and the availability of obtaining new loans or credit cards.
Scott R. Jay, Esq., 305-249-8000