How long does it take before a credit card company takes you to court?

Question

How long does it take before a credit card company takes you to court?

Answer 1

Beware, more and more companies ARE taking people to court and well below 10K!  

Why not try and make arrangements with the creditor or collection agency to REALISTICALLY pay the debt off and perhaps at as little as 50% of the debt?

Answer 2

They don't. After about half a year they'll sell the debt to a collection agency. The collection agency will just harrass you on the phone forever until you pay, unless it's a lot of money (over 10k), then they might eventually try to take you to court.

Mostly their strategy is to make you worry about your credit score.

Answer 3

It can often take several months or even years before a creditor has exhausted its own in-house debt collection efforts (whether they've sold the debt on or not).

HOWEVER, more companies are resorting to court action much more quickly these days, especially if you own property, because the creditor can secure the debt against the property using a Charging Order.

(http://www.payplan.com/debt-library/cour...

However, if you are struggling to pay your debts, you should never pay back money that you can't afford - especially if you're struggling to pay other priority bills such as your mortgage/rent, utilities, council tax and food shopping - these should always come first.

for further free debt advice, try

http://www.payplan.com - Payplan

http://www.nationaldebtline.co.uk - NDL

http://www.adviceguide.org.uk - CAB

Hope this helps

Peter