Creditors Suing These Days?

Question

With our current economy, is it more likely or less likely that individuals with less than 10000 dollars debt will get sued?

Answer 1

It really depends on whether they think you have the assets/money/income to make the suit worthwhile. This varies from person to person.

I would suspect that given the problems facing the middle class, suits are probably becoming more popular because middle class folks have houses, cars, good jobs, etc.

But that is just a hunch. I have absolutely no data to back it up.

Answer 2

More likely.    Let's reverse the sittaion.

Ok! I owe you a thousand dollars. I tell you, I'm running into some hard times, I'll get around to paying you someday. Maybe next month, next year, whenever, now leave me alone.

Would you be a nice guy and say  ' yea, that;s fine with me?"

What would you do???

Answer 3

It depends on the origination of your debt.  If you owe a credit card company, its unsecured debt.  They can send you to collections or put a lien on your property.  If they tried to sue you, you would have to have something they could take away.  They could potentially, depending on who you owe, garnish your wages.