Legal Question in Credit and Debt Law in Georgia

Credit

I have been out of work for over 6 months. Unfortunately I have not been able to pay on my credit cards. I recieved today a collection letter stating full payment was due immediately. I have no means to pay this right now. Is my car safe from these creditors? I am not a home owner.

Thanks


Asked on 10/17/06, 8:12 pm

2 Answers from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: Credit

If you are sued, a lender could seize your car and apply it to your debts, or place a lien on it.

You may need to consider bankruptcy. (Get a worksheey at www.glenashman.com and call us).

Read more
Answered on 10/17/06, 8:18 pm
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: Credit

You do not say how much the debt is, so it is hard to guess whether they may file suit. Bankruptcy is a last resort, and is usually not going to be a great option for one bad credit card debt.

Read more
Answered on 10/17/06, 8:26 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Georgia