Legal Question in Credit and Debt Law in Texas

Scared straight

I am a 63 year or single woman and I have no assets. I work from paycheck to paycheck and have over the last year found myself in more than a few tight spots financially. I have no family to help me so when the car breaks down or the electric bill skyrockets I have to rob Peter to pay Paul. I started borrowing from Pay Day loan companies over the past year to pay bills. It just escalated to where now I actually owe about 14 loan companies and cant pay them. I had to close 2 bank accounts because of NSF charges. More than once, I had nothing left out of my check to buy food or pay rent. I just got in a vicious cycle of borrowing more and more. I don't know how to get out of this situation. I can't pay any one and there are 14 wanting money. Will they take me to court? the smallest is a loan of $200 and the largest is $500. Of course there are huge fees attached to each. I probably owe at least $6,000 altogether. I don't have anything left over at the end of the week so I am lost. Will I go to jail? My health is not good and I am desperate to get out of this mess. Please help me if you can. No one has said anything about suing me yet, just ruining my credit which is already a mess. Thank you.


Asked on 11/06/06, 9:42 am

1 Answer from Attorneys
TC Langford Langford Law Office

Re: Scared straight

You will NOT go to jail. These are civil debts. They may threaten you, but the threats are empty ones. Contact consumer credit counseling, and see if they can resolve this for you. Bluntly, you have no assets to be attached -- although you may need to close ALL bank accounts. If they sue you, and take a judgment, they will have a judgment and nothing else.

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Answered on 11/06/06, 2:02 pm


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