Legal Question in Credit and Debt Law in Ohio

Question Regarding Credit Card

Hello!

I have found myself in debt. According to Equifax my debt is only $1,791. I understand this isn't enough to file for bankruptcy or whatnot, but most of these companies want ALL their money, which is impossible at my current time. I have talked to two of the three creditors and they refuse to do anything with the account. I have received a letter from Captain One Credit Card and they have referred my case to a lawyer enforcement agency. Is there anything that I can do to stop or even help with an affordable payment? I would assume a debt agency, but I am not sure what they can do if the Credit Card companies are so persistant in receiving their money.


Asked on 8/12/07, 9:14 pm

1 Answer from Attorneys
Mark Chuparkoff Chuparkoff & Chuparkoff

Re: Question Regarding Credit Card

Credit cards are called an 'unsecured' debt. Meaning, the cannot take anything from you in exchange for enforcement. The can, however, file suit, obtain a judgment and attach your wages and/or bank accounts. Keep in mind that they have to pay their attorneys to do this so it could be costly. From my experience, a lot of credit card companies will negotiate with you to at least receive some sort of payment. Just tell them what you can afford.... something is better than nothing from their end.

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Answered on 8/13/07, 10:38 am


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