What to expect?

[illwalk]

What is the name of your state?What is the name of your state? New York.

I fell behind on payments on an unsecured credit card debt that is just over the $10K mark. The case has been handed over to a company called Academy Collections. They gave me two weeks to try and make a settlement with them out of court but I wasn't able to come to affordable terms with them. They are now saying they are going to send it to be recommended for legal action (a civil case). What can I expect to happen now? Can they do anything to me immediately? Will they freeze my bank account? I have no assets like a home and I am self-employed so they can't garnish my wages. What else can they do? How long does it take usually for this to get into the courts? Help. Please. Thank you.

 

[Ladynred]

Academy Collections is a bunch of spineless bozos. I sent them a validation demand and they evaporated like fog.

They can do NOTHING to you unless and until they sue you and win a judgment against you.

Their bogus '2 week' deadline is just likely that - bogus. Its getting down to the end of the month. Collectors get bonuses for what they collect so they will turn the screws near the end of the month to get those Burger King coupons.

"Recommended for legal action" -- bah !! scarey-sounding weasel words - they full of it. People are afraid of lawsuits and going to court... so they like to scare people with this all the time hoping that you'll crumble and go open up that secret vault of cash they think you have but won't give them any.

You're self-employed ?? No, they can't garnish your wages, but they could go after ALL your receivables !! That's worse than wage garnishment. Lawsuits take time.. it doesn't happen over night by any means.

 

[Kristin36]

go here Credit Info Center and read, read, read! You will find out all that you need to know about your rights and how to handle these scumbags.