Can Credit card companies give credit to high school students? HELP!!!?

Question

When I was in high school a credit card company named clout financial called me at my home to inquire about a credit card. They asked me a few questions to complete the application then they told me I was approved. I received the card in about a week. My parents had no clue about it so I used it. I realized I had to pay them so I dipped into my college saving a lot. when it was empty I had no way to pay them so I did not. Then I received a summons to appear in court within 30 days. I showed up gave them my answer that I was in high school and had no clue to what I was doing. now I must appear back in court. What am I supposed to do? Do I have A defense I did have two children since then. What will happen if I lose

Answer 1

Not unless you are 18 with a parental consent and co signature.

if you are 18, you are responsible for the debt.

You should talk to your parents. you will lose, they will issue a judgement which will be a BAD mark on your credit.

You will then have your wages garnished, or they will charge it off as a bad debt (another bad mark on your credit) and do all of the above.

Answer 2

Being in high-school at the time you  accepted the card is not the issue.

How old were you? Did you lie and tell them that your were over 18? That could be considered fraud.  If you were under 18, they should not have offered you the card since a minor cannot sign a binding contract such as a credit card agreement.

Did you continue to use the card after you turned 18? If you did not (and they knew your true age), then you might have a defense.

If you did use the card after turning 18, you are liable.

If they win the lawsuit, you will have to pay.

If you think that is the case, try to settle with them for a lesser amount before you go to court.

Answer 3

Well, it sounds like it is time to act like an adult. You thought you were responsible enough to handle a credit card and apparently you were not. It's now time to go to court and see what happens. You have probably screwed your credit score really bad. Sounds like you are going to need to get a good job or a couple of jobs because I am sure you will still have to pay the card off and possibly some fines too.

Answer 4

Only if you are 18

Answer 5

How old were you at the time?  If you were under 18, then you are not liable.  

Answer 6

This all depends what was your age when this all occured were you under 18? If so they don't have a leg to stand on you were a minor and that is if the card was soely under your name and not your parents. If you were over 18, then get a part time job and set up a payment plan.

Answer 7

I'm sure you don't need to hear this again, but, that wasn't smart.

If you are 18 you've got no defense.  Lets be honest with each other, you knew you were going to have to pay that money back.

You will lose, as you don't have any defense.  They will send you to collections.  This very bad mark on your credit will last for 7 years since the date of last activity.  Meaning the last time you talked to someone about paying this debt.  You owe it, so, if you've got the money, try to settle with them.  Set up a payment plan you can afford.  You can also say, I know I owe you $5,000 but would you be willing to settle for $2,500 if I set up a payment plan with you?  Many collections companies will go for this deal as they have paid substantially less than the full amount you owe for the right to collect your debt.

If you make an effort to correct this debt it will help get your credit back in order more quickly.  If you decide I'm never going to pay that money back, get ready not to be able to buy anything with credit for the next 7 years.  Hope you don't need a car, a house or another credit card.