What is going to happen to me?

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What is going to happen to me?

Postby worried » Wed Jan 21, 2009 3:44 pm

Due to losing my wife's income and my part-time income I do not have enough money to pay on my credit cards so I stopped paying them about six months ago. I don't care about credit ratings. What is a judgement? Being I don't make enough to even pay my necessary bills can they still garnish my wages?

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Postby magyar1045 » Wed Jan 21, 2009 6:04 pm

Have you been hounded yet? Threatened? Creditors usually get a judgment against you which might have provisions to garnish your wages up to the legal % amount in your state - and to have your bank account frozen. While you probably won't be able to stop the wage garnishment you can avoid the bank account freeze by closing that bank account and cash any checks that you receive.

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Postby Mogul of Pineapples » Wed Jan 21, 2009 7:46 pm

Why don't you care about your credit ratings? They go into a lot more than things like credit cards. Insurance companies, employers, and more use them. Do you ever want to buy a house and get a mortgage or a loan on a car?

It's one thing to be disappointed about your current credit record, that's normal. But to say you don't care about it?
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Postby KC95 » Thu Jan 22, 2009 2:54 am

dont put your money in the mattress though because if you have a fire, theft, disaster you could lose it all. a paypal account is a good alternative to a bank account that they can take wage garnishment on.

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