Legal Question in Credit and Debt Law in Ohio

Overlimits and Credit Cards

I am 7,000.00 over limit on a credit card account and have been billed each month for that amount as a minimum payment.(Full bill is 9,000.00). While I cannot make this minimum payment, I have been sending around 900.00 a month for the last couple of months and promising to pay off the balance as soon as I can. Now the company says I have only until the end of the year to make the balance payment . Can they sue me, since I have been making an on time payment (albeit less than the minimum amount) each month?I always thought that making SOME form of payment garanteed safety from being sued.


Asked on 12/28/02, 1:17 pm

1 Answer from Attorneys
Jay Maynard Attorney at Law

Re: Overlimits and Credit Cards

Unfortunately, the credit card company's can make any demands they wish. Secondly, the majority of them do not care about you, your personal situation or if you have been making payments on time. All they are concerned with is getting all their money and nothing more.

So, the answer to your questions is "yes." They can sue you for the balance if they choose to. If they win a judgment, they can garnish your wages or your bank account, or put a lien on your home or other assets.

If you are contemplating filing bankruptcy to get the entire amount of the credit card debt discharged, please feel free to review my website at http://www.jaymaynard.com and contact me if I can help you in any way.

Read more
Answered on 12/28/02, 6:27 pm


Related Questions & Answers

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