Hi, I'm a undergrad student and live in a rented room.I don't have any property or any money in the bank. Moreover I'm unemployed since last 3 months.im getting calls from TFCU bank regarding my outstanding credit card bill.I ve tried to explain them that I don't have any money on me to even make like 50$ contribution towards my bill rite now.so gimme sometime but they isn't willing to compromise. Now today they said that if I won't pay them money by 4 pm they will take further action againts me. Can you tell me what sort of action they will take?will I be sent to jail?will they come to my place or send anybody to collect money? I'm having a panic attack rite now. Help me & let me know about the risks involved in this! I ll really appreciate the help!

I know this isn't going to answer your question at all but have you been looking for a job?? Anything??

Yup I'm.. but things isn't wrkng out yet & the TFCU people are hounding the life out of me.. they said they will take action against me:(

Well, I'm not an expert but I googled it and this is what I came up with.

WikiAnswers - What legal action can a credit card company enforce (http://wiki.answers.com/Q/What_legal_action_can_a_credit_card_company_enforc e)

You could try it too and see what you come up with.

Hello K

You can not go to jail. But the creditor can sue and win a judgement thus giving them the ability to garnish your wages,{when you go to work} if your state allows and freeze your bank account. How old is the debt?

Hey thanks everyone for answering my querry.. its just 2 months old... my main concern is that they dun show up at my door as I ve stopped replying to their fone cals & their mails.. as I tried a lot earlier to make them understand that I'm out of job gimme sum time but they dun seem to believe me... :S

They will probably just turn it over to a collection agency who eventually will pursue civil action against you. Your not going to jail.

Here's some tips.
Investment For Beginners (http://www.investment-for-beginners.com)