I lost my job and have fallen way behind in my credit card bills.

Question

I want to pay my credit card bills with what I can. But, my credit card company said that they do not want any installments and they want the total amount owed. they also told me that they were going to sue me. Can they do this? What are my rights? Can anyone help me. Sincerely, worried in brooklyn

Answer 1

They can refuse to make installments for payments that you are already missing. Yes, they can sue you.

Get out there a get a couple of part time jobs if need be and stop using the credit cards.

Answer 2

First of all, don't get too stressed out...just about everyone in this country has gotten behind on credit card bills.  And yes, the credit card company can sue you, but its very, very unlikely.  What you can do, though, is contact the company and tell them that due to financial hardship, you are unable to pay the amount in full.  And when they quip that they won't take installments, tell them that you have no other choice but to start the bankruptcy process.  You really don't have to file, but just the threat to file will more than likely scare the credit card company into taking payments from you.  They know that if you file bankruptcy, they will get nothing.  so, payments are better than nothing!  Don't be afraid to fight back a little bit.  Just remember, threaten them with bankruptcy, and they will be more willing to take payments! good luck!!