Legal Question in Credit and Debt Law in North Carolina

Re: Sued over credit card

Not necessarily. Each person's situation is different and all the facts are necessary. You should consult with an attorney, legal aid if you qualify, or do research online (for instance, type in fair debt collection on google) or go to the library and take out some books.

Depending on when this was last paid, they may have no legal claim (if the statute of limitations has run). They may have no ability to garnish your wages or get attorneys fees. In addition, depending on what they threatened, they may have violated fair debt collection practices in which case you can sue them too - you need to log all calls from now on (AGAIN - do some research on what to do).

They can definitely sue you and if they win, they can get a judgment and attempt to go after your assets. You have a right to certain exemptions which can protect some of your assets. Also if they only sue your wife, and your assets are jointly held, then there may be little they can do to collect.

The best advice I can give is that you need to learn and understand your rights as well as realize that each situation is unique. The main problem is that many debtors rarely push back and they lose any valid defenses because they don't respond. If they sue you, make them produce an application that you signed making you responsible. If the statute of limitations has run, be sure to assert that in your defense when they sue yet. Consult with a lawyer or do research on your own. Good luck.

- Jeff