I live in California and now owe money on 10 credit cards. Discover card threading me by attorney pl

About 7 months ago I stopped paying om my 10 credit cards and owe more than $42.000 plus fees.

They all charged off my debt. However, 3-4 collection agency keep calling me saying that if I don%26#039;t pay I will end up in court.

Today I have a letter from Discover. They say that %26quot;We have been authorized to proceed with legal action to secure the balance you currently owe us... if we don%26#039;t hear from you by 04/30/07 you account will be forwarded to an Attorney to obtain a judgement against you%26quot;

I have never spoken to any creditors since I I stopped paying them. I rent, have no properties, and owe old used car that I bought for $6.000 together with my dad - 2 owners. Also about a month ago I was charged off with my 2 mortgages.

1. Can collection agency bring me to court and start taking money from my paycheck?

2. If I changed address and they can%26#039;t served me letter from court will it matter?

3. Will Discover C. bring me to court as well?

What do I do? Keep hiding, fail for bankruptcy?

I live in California and now owe money on 10 credit cards. Discover card threading me by attorney placement.?

Just my opinion, but if an original creditor is talking about court, the chances of them actually doing so is pretty high.

Collection agencies threaten things like that as a matter of course (even though it is illegal to threaten when not actually planning on doing it), but original creditors rarely use idle threats.

Hiding probably will not help, they will more than likely just serve your last known address. Then get a default judgment against you.

If they do happen to get a judgment against you, the judgment will be valid for 10 years and then they can renew the judgment at the 10 year mark.

So, they will have plenty of time to wait.

As for filing bankruptcy, I would suggest speaking with an attorney.

I don%26#039;t know the laws of California as far as bankruptcy and judgments so the following would just be speculation -

It may be possible if bankruptcy is filed before they sue or before a judgment is reached, it would stop the suit or judgment.

Or It may be possible to either have a judgment vacated or it may just put a permanant injunction on collecting the judgment

Again, I don%26#039;t know Ca. laws on that and your best bet would be to speak with an attorney.

Also, I believe the 3rd poster is wrong about #4 in his post.

I live in California and now owe money on 10 credit cards. Discover card threading me by attorney placement.?

It sounds like you need to file for bankruptcy. Maybe you should talk to an attorney and see what your options are. My reviews of credit cards: http://www.squidoo.com/citi_pl... http://www.squidoo.com/citi_pr... http://www.squidoo.com/advanta... Report It

I live in California and now owe money on 10 credit cards. Discover card threading me by attorney placement.?

If you%26#039;ve stopped paying altogether, they may be able to charge you with theft by fraud and pursue criminal charges.

I live in California and now owe money on 10 credit cards. Discover card threading me by attorney placement.?

Call Consumer Credit Counseling . They are FREE Non profit agency that helps people get their debt on track. They will help you set up a payment agreement with these creditors so they don%26#039;t take you to court. Because of the balance involved, yes they can sue you for fraud. I used them in the past when we fell behind and it saved my house from going into foreclosure.

Keep in mind, YOU still owe that debt. The agency will help, that way your credit won%26#039;t suck all your adult life. :)

Good Luck....

I live in California and now owe money on 10 credit cards. Discover card threading me by attorney placement.?

1. Yes. They can, if they feel your amount owed is worth the time/effort involved.

2. That will only delay the inevitable.

3. Yes. They might.

4. Filing for bankruptcy won%26#039;t stop anything. The new bankruptcy laws now require judgments that do not write off debt anymore. If the person has the ability to pay down credit, the court is obliged to order wage garnishment.

You will, eventually start paying. My advice is to get out the checkbook.