Legal Question in Credit and Debt Law in Tennessee

unsecured loans

My husband and I have several thousands of unsecured debit. I have recently lost my job and 75% of our income is now gone. These accounts are delinquent. If the companies write these off as bad debit, I know that will be a negative credit rating and I can live with that, but can they or will they take legal action in this time of instability?


Asked on 10/14/08, 9:01 am

1 Answer from Attorneys
Robin Gordon Gordon Law Group, PLC

Re: unsecured loans

The creditos may sell thier debt off after it is written off - these new creditors may sue. Let us knowif you need more info.

Good luck.

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Answered on 10/14/08, 3:51 pm


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