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RJ214 · Jun 16, 2008, 01:42 PM

Hello. I live in Michigan and forgive me ahead of time for being naïve. It's not an excuse, but it is the reason I've fallen into the hole I'm in. :o
Last August I realized I was falling behind on my credit card debt.
I got involved with a Debt Consolidation program.
My PROBLEM is that one of the creditors, with two different accounts (HSBC) are sueing me and taking me to court.
Has anyone experience this before? Are there Michigan laws that might help me here?
I know they do not have the original agreement for when I first got the card. I never received any notice that they were not going to work with the Debt Consolidation company. I have other HSBC credit cards that DID agree to the consolidation.
What the heck do I do now? :eek:
Thank you in advance for your time and consideration.

purplewings · Jun 16, 2008, 02:51 PM

Since litigation is expensive and time-consuming, if I were in your position, I would contact the company and try to set up a repayment schedule - even if you have to borrow from your family to get it started - and then adhere to it 100%.

We don't have debtor's prisons anymore, so you won't go to jail, but they will destroy your credit record and attach any monies you may have in your bank account, or winnings you may receive from another source.

All they really want is what you owe them. I think you could relate to that - I know I don't want to pay for what someone else is enjoying.

Give settling a shot and if it doesn't work, you may want to start gathering paperwork showing your income and your monthly expenses for the courts to view.