Legal Question in Credit and Debt Law in Florida

Considering defaulting on credit cards

I have seven credit cards with current balances that range between $300 and $3500. I am considering stopping paying on them, instead devoting my small income to living expenses and my more secured obligations (car,rent,insurance,etc.).

I can deal with collectors, but I'm worried about a judgement and/or garnishment of wages. Bankruptcy seems unnecessary.

How likely is it that my creditors will persue a judgement?


Asked on 2/10/02, 6:34 pm

1 Answer from Attorneys
Scott R. Jay Law Offices of Scott R. Jay

Re: Considering defaulting on credit cards

I am not a gambling man, but I would guess that sooner or later one of your creditors will come after you and sue for monies owed and eventually obtain a judgment. In the interim, they will report you to the credit bureau as a late pay and/or a write off thereby ruining your credit.

Scott R. Jay, Esq. 305-249-8000

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Answered on 2/10/02, 7:20 pm


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