How late were you before you were served?

[lovemybugs10]

Thanks Quagmire- In all honesty we did it to ourselves. While what racked up our credit card debt wasn't because of living beyond our means- (had to put 30k on them to sell a house that we never intended to leave) we could have had a rainy day fund- and we didn't. It never crossed my mind my husband would lose his job.

I hope that you find peace and answers in your situation.

[Fallonedward]

Thanks Quagmire- In all honesty we did it to ourselves. While what racked up our credit card debt wasn't because of living beyond our means- (had to put 30k on them to sell a house that we never intended to leave) we could have had a rainy day fund- and we didn't. It never crossed my mind my husband would lose his job.

I hope that you find peace and answers in your situation.

I can relate to your situation. We had the perfect storm, house under water, huge hospital bills for diabetic child (even w/insurance) and double job loss. Prior to our double job loss both of us took 5 pay cuts (I had 3 cuts and hubby had 2) to keep our jobs and then still lost them in the end. The 40% reduction in pay was what did us in and then double job loss...

Their was no way our emergency fund could stand up to that hailstorm...

[seahawk4life]

amex got to me in about 4 months i think, was going with a debt settlement company (bad idea) but after being served for a lawsuit we filed for a chapter 13...guess we get the last laugh

[jacko]

Nothing wrong with that if you have the income. But you will be hit with a huge tax bill afterwards. So you are not really settling for 40%. You should of settled for 20%.

I know that they will try to sue- but it will take a couple weeks before it hits the courts, at least- and like I'm doing with discover now (paying them over 6 months) I would do with the other two.

I posted in the wage garnishment sticky. For the sake of time I'll repost the skinny here- they can, after all exemptions still garnish 900 (and something) a month. It will only take a year to pay off Discover, then a year for BOA then 2 for Citi. So why would I let them garnish, if it gets me no where but paying 100% plus fees and interest, etc. I can pay off both boa and discover at 40
% in a year, then Citi in about 8 months.

I don't understand what is wrong with that?

[lovemybugs10]

I think even with the extra *income* because of taxes on it- paying 40% plus that will be less than 100% plus fees.

[Quagmire]

Thank you very much Lovemybugs10, Fallonedward, and Seahawk4life. I appreciate your additional input, help, and support in the very sad and depressing mess I have gotten myself into. I will try to hang in there. Thank you all for being so very supportive of me.

Quagmire

[lovemybugs10]

Just remember, what goes down must come up. You will go up. We all do. We will have to fight to get there, but we can do it.

[merime]

I just got served Sat. Spent entire weekend crying. Stopped paying because I used up all the money. Became so depressed ignored phone calls and letters. I just found a job and this all happens. I have to wonder if there are judgements against me because I tossed the mail. Thank God for this forum , its nice to know your not alone

[Jackdog]

I stopped paying one in February (discover) the rest in March. So far nothing. Changed my home phone number so I don't get calls. I still get bills from them all of course. One certified letter so far. But I check the courts website weekly and nothing so far.

[jpsugar123]

Wells Fargo served me yesterday-luckily I filed BK on June 11th and my lawyer is taking care of the problem. I hadn't paid since Oct 09 due to husband losing job. They started the process according to paperwork back in April. So, about 6 months.

[merime]

Does anyone know how to defend youurself in court. I am willing to pay what I can but I only work 21 hrs a week at 9.00/hr. Its all I could get.

[catleg]

Does anyone know how to defend youurself in court. I am willing to pay what I can but I only work 21 hrs a week at 9.00/hr. Its all I could get.

For a credit card, your wages would be exempt from wage garnishment. If you make more, eventually they might take something, but for now unless you have money in the bank, or an expensive car, or equity in a house, you're safe from any judgment (except for the stress of it).

Title III also protects employees by limiting the amount of earnings that may be garnished in any workweek or pay period to the lesser of 25 percent of disposable earnings or the amount by which disposable earnings are greater than 30 times the federal minimum hourly wage prescribed by Section 6(a) (1) of the Fair Labor Standards Act of 1938. This limit applies regardless of how many garnishment orders an employer receives. The federal minimum wage is $7.25 per hour effective July 24, 2009

[Quagmire]

Everyone, thank you for your additional feedback, comments, and suggestions. As always, I sincerely appreciate it.

Merime, I was very sorry to hear about you being served. How very awful. Right now, I am trying to learn what I can to either get ready to be served or to try to work out a plan either for debt settlement or going BK (before I get served). I have an appointment with a BK lawyer next week. I am really-really-reallymight