I have several credit card debts which I have not been able to pay due to lack of work. I've looked for work, but being in my fifties with a trade experience only, and no high school degree its being hard to find a job against all the young and now unemployed with much higher education. B Of A, is about to sue me for twice as much as the original debt, most of which is interest and late charges, I assume. I am still looking for work and no luck. What should I do, how should I treat the served papers, and should I talk to A lawyer, how much should I offer if I could sell an old car to pay some of the debt? By the way, the sum is in the upper three figures.

You are being sued for under $1000? Offer to pay half the original amount owed up front and ask them to waive the fees and set up a payment plan for the rest.

Its not worth their time to go to court for that little - lawyers cost more than that! Any reasonable offer should be accepted.

There are hundreds of threads here that deal with this. I suggest you browse around.

You can offer to negotiate a settlement, starting with half the amount they are asking for. If you have been served with papers you need to answer them, otherwise they will get a default judgement.

Hello,

I have experience with BOA as a collector and I can tell you that BOA will accept as little as 30% hardship in one lump sum prior to being put into their legal collections dept. After that they will go as low as 50%-60% which can be spread into 3 payments. BOA will be willing to accept settlements that low as they wish to avoid suing.

frostybabygurl: you are awesome, and for that, I owe you a cup of fresh brewed coffee and a cinnamon twist (I know we'll never meet, but it's a way of saying, Gracias, Merci, Grazie, Thank you frostybabygurl!). It is good input, and it gives me hope the card under my sleeve works miracles for me. For, I find myself in a difficult situation like many other without work and not eligible for unemployment, since I trusted three so called be friends and ended up with a three wounds on my back and financial life. I appreciate your response.

Thanks Scoot and everyone else whom has answer my concern. I appreciate your answers.

Thanks Steve and Scott for answering my question. I appreciate your answers.

Thanks

Thanks Scott