Credit Card Collections Frequently Asked Questions

I have defaulted on a Credit Card account, what can happen?  A couple of things will occur. First, you will be contacted by the credit card collections department. If you do not pay, your account will be charged off after 6 months. Your account will then either be placed for a lawsuit or will be assigned to an outside collection agency.

Will I get sued by the Credit Card company?  As part of the credit card collections process your credit card company will definitely file a lawsuit against you. It may come from the original credit card company, or, more likely, from an outside credit card collections agency.

Do I face jail time?  NO. Credit card collections does not include jail as a punishment for not paying.

Can my wages be garnished?  Yes. As part of the credit card collections process your creditor can attempt to garnish your wages under Florida law. However, you may qualify for the head of household exemption.

Can my bank account be garnished?  Yes. If the credit card company or collection agency sues you and wins they may be able to garnish your bank account. Once the credit card collections company has a judgment in hand they will be able to ask you to turn over all of your personal financial information.

Can they sell my personal property?  Yes. If the credit card company or collection agency sues you and wins, they may be able to levy on your personal property.

What else can they do?  As part of the credit card collections process your creditor can place a negative mark on your credit, file a lawsuit against you, attempt to garnish your wages or bank accounts, or levy on personal property. They may also place a lien on your home.

Will a judge order me to pay more than I can afford?  Judges do not order you to pay anything. The court process (lawsuit) simply determines how much you owe, if anything. Payments will be voluntary on your part, or, the credit card collections company can begin execution proceedings to collect.

Can they threaten me?  NO. They can threaten a lawsuit, because that is within their legal rights. But, if they threaten you with jail or to otherwise humiliate you we may be able to sue the credit card collections company.

Should I negotiate the debt myself? No. I recommend a consult with our credit card collections attorneys prior to speaking to your creditors alone. We only recommend that clients negotiate directly with credit card collections companies when the amounts in question are very small.

What should I do?  Contact our law firm today to schedule a free consultation with our experienced credit card collections attorneys. Our attorneys will discuss all of your options, including negotiation, bankruptcy or defending the lawsuit. Our success rate in defending these types of cases is much higher than you would believe.