Ask Me Help Desk - Could use some advice

I have been contacted by my credit card company. Basically I was told that if I can't pay half of my debt that I will be summons to court and sued. I was told that their attorneys fees would be added to my debt. I am listed on one of my parents credit cards. The credit card company has tried to talk me into talking to my parents to have them transfer my balance to their card. I know with out talking to them that they would not be willing to do this. I was told that after this goes to court that it could increase the rate on my parents interest on their card if their credit card company sees this on my credit. I tried to work out a payment of $50-100 a month with my credit card company but was told they could not accept this. I was told that I would have to pay off half of the debt, then they will work out a payment with me. I am concerned about my parents finding out. Is there any way I can get myself off their credit card with out consulting them? I understand that this will effect my credit and am willing to deal with this. Also what will happen in court and there after? I was also told that I had committed credit card fraud since I no longer have the means to pay, is this true?

Quote:

Originally Posted by hopperxoxo

I was also told that I had committed credit card fraud since I no longer have the means to pay, is this true?

No, its not true. Credit card companies make their money when people can't pay. Credit card fraud is when you lie to get a credit card.

And as for the rest, TELL YOUR PARENTS. Have them take you off their cc. I know, you don't want them to find out. But if you don't tell them…

Why do people say never borrow money from your family? Because money ruins relationships. Don't let this affect your relationship with your parents…and it will, don't kid yourself. They will lose trust in you.

Being responsible here it the best thing. Your parents will think you responsible and trustworthy.

Quote:

Originally Posted by hopperxoxo

I understand that this will effect my credit and am willing to deal with this. Also what will happen in court and there after? I

They can garnish your pay cheque, get a court order for you to pay the money. They can take all the money out of our bank account.

First they can garnish you and freeze your bank accounts but they are lying to you about raising you parents rates. Get off your parents account now! They are trying to collect a debt and are entitled to tell you anything to make you pay.If you send them a money order (Keep receipts) for 50-100dollars by the time it gets to court the judge will not only admonish them but may throw the case out as long as you continue the payments.Realise that these are the same people who send credit cards to unemployed college students because they know your parents will not let lil' jonny have bad credit at his tender age.They will not refuse anything you give them and even a judge cannot take what you don't have! But the greedy suckers will tell you anything to get there money.After I tore up my credit cards and paid them off, I found I could retire early and not have to work.good luck but be smart and don't let them intimadate you.Google Bud Hibbs for more info.:cool:

EXPERIMENT:Send your credit card a money order for whatever,after they have given you a line of crap and let me know if they send it back!

Credit card people "LIE" that is how they make their money.

First never, never ever ( did I say NEVER) talk to them on the phone, if it is not in writing, it is a lie. If you agree to anything over the phone, they will take what little money you agree to and say that they never promised anything.

So first do not transfer any of this to anyone's credit card, even your own.
Next no they will not raise your parents rates, since it is based on their payments, and if they did raise their rate, your parents assuming they have good credit would just drop that company and get another company.

Next they are lying, that they have to have 1/2 or nothing, they could agree to anything they wanted to. These collectors make a commission on large funds they receive. So if they get 1/2 of the money somehow, they can take that vacation next week or pay for that new car payment they have.

So first don't talk to them again on the phone, ever period.
Next decide how much you can afford to pay them each month, send in that amount with a letter saying that you can pay this amount and nothing more.

I bet they will take it, yea they will still call from time to time trying to make that big score from you. But getting their money paid is what they want.

Worst that will happen, they get a judgement and garnish your pay check and perhaps put an attachment on any checking account you have your name on. If your name is on your parents bank account take it off.

Best that could happen in court, you show them a copy of the letters where you were trying to make monthly payments and copies of checks where you have been sending in monthly payments and the judge dismisses their case since you are still trying to make payments.

But if you are sending in a 100 a month, ( I don't know how much you owe, but if this is over what the min payment used to be they should really be happy)

Next tell your parents, make sure they don't have your name on any savings or checking accounts on their money, have them take you off their credit card, and I never trust credit card companies, If they have a card with the same company you are having trouble with, maybe they should change and get a new credit card company and card.

:confused: the absa bank wants to auction my brother's house and he is having arreas of only 4 months, is it possible??

:confused: is it possible that the bank can auction my brother's house with arreas of 4 months?

Quote:

Originally Posted by Omphile

:confused: is it possible that the bank can auction my brother's house with arreas of 4 months??

Yes

He is late paying, so they can forclose. They usually don't, but they can.

Quote:

Originally Posted by Omphile

:confused: is it possible that the bank can auction my brother's house with arreas of 4 months??

If he has not paid his mortgage ( I will assume we jumped from credit card debts to house mortage)

YEs, now they really don't want the house, they want the money, but if he is four payments behind, sometime after the third payment not made, they start thinking about foreclusure depending on if this perosn is working with them, sending in some money, partial payment, calling and telling them what is going on, Does he have a plan to get payments caught up.

If not and they can't work things out, he will get a notice of the loan in default, there will be a court hearing scheduled to foreclose on the property. He will then be served with notice and given a certain number of days to move out. The house will then be sold at auction, and he will still end up oweing the difference in the loan and what the house sells for plus costs.

Quote:

Originally Posted by Fr_Chuck

If he has not paid his mortage ( I will assume we jumped from credit card debts to house mortage)

Yes. A new person posted in this thred. I guess they didn't want a brand new thread all to themselves.