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What is the worst credit card companies can do if you d... - 1/23/2013 5:52:25 PM   
Toppingfrmbottom


Posts: 6528
Joined: 6/7/2009
Status: offline 		They'll call you a shit ton of times, and they'll sell your account to a debt collectors, but after that? what if it's been like 5 months and you won't answer your phone or talk to them?

< Message edited by Toppingfrmbottom -- 1/23/2013 5:53:24 PM >

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RE: What is the worst credit card companies can do if y... - 1/23/2013 5:54:02 PM   
Baroana


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RE: What is the worst credit card companies can do if y... - 1/23/2013 5:58:14 PM   
Level


Posts: 25145
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Status: offline 		They can file a civil suit against you, get a judgment against you, possibly file an assortment of writs. You may want to speak to an attorney, you may qualify for legal aid if you can't afford one.

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RE: What is the worst credit card companies can do if y... - 1/23/2013 6:03:39 PM   
Toppingfrmbottom


Posts: 6528
Joined: 6/7/2009
Status: offline 		We joined care one credit, and they were supposed to be handling things, but their strategy is apparently to say nothing till they have enough money amassed to pop up with a settlement offer, and then try to negotiate with the company to come down in what they're expecting, so say they want 1 k they're going to negotiate to get it down to 400, , but in the mean time they're not telling our creditors that's what's going on, they're staying silent and letting our creditors think we're ignoring them. We were told not to answer the phone when the creditors call, and not to speak to or make any kind of agreement with the creditors. and I am so majorly freaking out now that I have found out that the creditors have no idea we're working with a 3rd party company. I was under the impression careonecredit people were going to talk to the 4 crediters and let them know what was going on.


quote:

ORIGINAL: Level

They can file a civil suit against you, get a judgment against you, possibly file an assortment of writs. You may want to speak to an attorney, you may qualify for legal aid if you can't afford one.



< Message edited by Toppingfrmbottom -- 1/23/2013 6:05:06 PM >

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RE: What is the worst credit card companies can do if y... - 1/23/2013 6:08:14 PM   
servantforuse


Posts: 6363
Joined: 3/8/2006
Status: offline 		If you can't afford to use a credit card you shouldnt be using one. You owe the money and should do whats right and pay it back.

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RE: What is the worst credit card companies can do if y... - 1/23/2013 6:08:52 PM   
Toysinbabeland


Posts: 1693
Joined: 3/4/2012
From: the other end of Cx's leash
Status: offline 		They can legally request the money you owe them rightfully.

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RE: What is the worst credit card companies can do if y... - 1/23/2013 6:16:07 PM   
servantforuse


Posts: 6363
Joined: 3/8/2006
Status: offline 		I'm curious to know just how much you owe to these awfull credit card compaies ?

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RE: What is the worst credit card companies can do if y... - 1/23/2013 6:25:12 PM   
KatyLied


Posts: 13029
Joined: 2/24/2005
From: Pennsylvania
Status: offline 		Curious too, exactly how much do you owe?!

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RE: What is the worst credit card companies can do if y... - 1/23/2013 6:27:41 PM   
MAINEiacMISTRESS


Posts: 1180
Joined: 9/12/2012
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quote:

ORIGINAL: Toppingfrmbottom

They'll call you a shit ton of times, and they'll sell your account to a debt collectors, but after that? what if it's been like 5 months and you won't answer your phone or talk to them?

They could end up putting a lien against your property, though I'm not sure how far it has to go before that happens.

You really should try to work to clean this up before your credit is totally ruined. If your current credit cards are high interest, ANY interest actually, contact another credit card company (check online for cards like Discover, Capital One, Citi bank, Chase, which I've used all of for years with NO INTEREST FEES, NO YEARLY MEMBERSHIP FEES, except the initial transfer fee --usually about 3% of total, a one time charge) and see if they have a 0% interest balance transfer rate.
Don't be afraid to CALL the number on an old card you have lying around that you haven't used in a while, many times they are happy to have you back and will snatch that owed balance away from the "big greedy bastards" and will give you a new rate of 0% on the balance transfer if you ask (So, ASK!).
Most of these no-interest rates last about a year to 18 months, so it can give you a chance to get your head above water and maybe start REDUCING your debt---when the time is up, find another 0% card offer and transfer it again. (do it before your credit is damaged!!!)....even if you can't make more than the minimum payment every month, at least it will stave off disaster while you hunt for a solution/job.

I have done this 0% hopscotch for 15 or 20 years now (I've even bought a CAR and LAND with these 0%'s ) . Just keep the cards when they are paid off, DON"T USE THEM (freeze them in an iceblock, I hope you've learned your lesson!), just leave the paid-off cards dormant...and eventually the 0% offers will come tumbling in in an attempt to entice you back.

--MM

< Message edited by MAINEiacMISTRESS -- 1/23/2013 6:30:39 PM >

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RE: What is the worst credit card companies can do if y... - 1/23/2013 6:33:57 PM   
servantforuse


Posts: 6363
Joined: 3/8/2006
Status: offline 		I owe right around $600.. It gets paid on time every month to avoid 20% + interest charges.

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RE: What is the worst credit card companies can do if y... - 1/23/2013 6:37:11 PM   
cordeliasub


Posts: 528
Joined: 11/4/2012
Status: offline 		They can take legal action, put on a lein as has been mentioned, or even arrange to garnish your wages. I have never been through that, but one of the numerous times my h was unemployed, we ran up debt and started getting those stressful calls. One day I finally just broke down with one of the ladies and told her my h lost yet another job and I was working but we didn't even make it through the months most time and I just didn't know what to do and I was sorry. She calmed me down and then asked me if I thought 25 dollars a month was do-able (our payments were like 250 or so). I said yes. She arranged for some kind of credit counselor they had to call me, they agreed to reduce the debt, and they mentioned that the other companies usually were willing to do the same. A few honest and humble phone calls and I had about 40% of my debt reduced - mostly interest and fees that had been piling up. It took 5 years, but we paid back every cent.

Ignoring it will NOT make it go away, and the phone calls will just keep coming.

As an aside, I ONLY use a debit card now. I immediately shred any credit card offer I get.

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RE: What is the worst credit card companies can do if y... - 1/23/2013 6:38:04 PM   
NuevaVida


Posts: 6707
Joined: 8/5/2008
Status: offline
quote:

ORIGINAL: Toppingfrmbottom

They'll call you a shit ton of times, and they'll sell your account to a debt collectors, but after that? what if it's been like 5 months and you won't answer your phone or talk to them?

They seized and froze my ex husband's bank account. Can you cut your contract with CareOne? Might want to consult with an attorney on this one.

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RE: What is the worst credit card companies can do if y... - 1/23/2013 6:42:55 PM   
servantforuse


Posts: 6363
Joined: 3/8/2006
Status: offline 		Most of these '3rd party companies' are rip offs. The money you are paying them could be going to pay down the debt. You will end up paying for both.

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RE: What is the worst credit card companies can do if y... - 1/23/2013 6:56:14 PM   
tj444


Posts: 7574
Joined: 3/7/2010
Status: offline 		Why did you deal with them? They sound pretty scammy, it took me 2 secs to google and find sites with complaints about them.. Why didnt you just work something out with each company on your own? It sounds like this company does more harm than any remotely possible good.. I would contact your state govt about them & what you can do, they were investigated in 2010 by multiple states and paid a settlement.. file a complaint with the bbb too (read midway down on govt action), according to this they settled all the complaints so hopefully you can get all your money back from them.. I expect you will have to bite the bullet and negotiate with your creditors directly tho.. http://www.bbb.org/greater-maryland/business-reviews/financial-services/careone-debt-relief-services-in-columbia-md-22012018

here is what one person who tried them wrote:
I ended up working with each individual company myself to convert the outstanding debt into a loan that would be paid off in seven years. In return, they stopped all penalties and gave me an interest rate I could work with and of course, my credit card was cancelled. The only time the credit card company will knock a chunk off your debt is if you promise to pay the rest off in three or four payments.
Like me, if you had the money to do that, you wouldn't be in debt in the first place. The writer who defended CareOne claimed that they didn't take money for their service. Not true. My payments to CareOne went into an Escrow account that earned interest. They got to keep the interest. Upon cancelling, I was able to get all the money I'd put into the escrow account back but they kept 1/3 as a "withdrawal fee." Part of their service is to provide you with a monthly budget. In the end, it wasn't realistic and not worth the trees that were killed to produce the paper. I was lucky in that after two years, I was able to pay all my creditors after receiving a small inheritance. However, it's been three years and despite paying everyone off in full, my credit rating is still not near what it used to be. Beware of people promising easy answers. http://www.consumeraffairs.com/debt_counsel/careone_credit.html
quote:

ORIGINAL: Toppingfrmbottom

We joined care one credit, and they were supposed to be handling things, but their strategy is apparently to say nothing till they have enough money amassed to pop up with a settlement offer, and then try to negotiate with the company to come down in what they're expecting, so say they want 1 k they're going to negotiate to get it down to 400, , but in the mean time they're not telling our creditors that's what's going on, they're staying silent and letting our creditors think we're ignoring them. We were told not to answer the phone when the creditors call, and not to speak to or make any kind of agreement with the creditors. and I am so majorly freaking out now that I have found out that the creditors have no idea we're working with a 3rd party company. I was under the impression careonecredit people were going to talk to the 4 crediters and let them know what was going on.

quote:

ORIGINAL: Level

They can file a civil suit against you, get a judgment against you, possibly file an assortment of writs. You may want to speak to an attorney, you may qualify for legal aid if you can't afford one.





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RE: What is the worst credit card companies can do if y... - 1/23/2013 6:59:38 PM   
LafayetteLady


Posts: 7683
Joined: 5/2/2007
From: Northern New Jersey
Status: offline
quote:

ORIGINAL: Toppingfrmbottom

We joined care one credit, and they were supposed to be handling things, but their strategy is apparently to say nothing till they have enough money amassed to pop up with a settlement offer, and then try to negotiate with the company to come down in what they're expecting, so say they want 1 k they're going to negotiate to get it down to 400, , but in the mean time they're not telling our creditors that's what's going on, they're staying silent and letting our creditors think we're ignoring them. We were told not to answer the phone when the creditors call, and not to speak to or make any kind of agreement with the creditors. and I am so majorly freaking out now that I have found out that the creditors have no idea we're working with a 3rd party company. I was under the impression careonecredit people were going to talk to the 4 crediters and let them know what was going on.


quote:

ORIGINAL: Level

They can file a civil suit against you, get a judgment against you, possibly file an assortment of writs. You may want to speak to an attorney, you may qualify for legal aid if you can't afford one.




I know you said, "we," but are the cards in BOTH your names?  I know you and your partner are not married, and given that he works and you are on disability, what they can do to each of you is different.

First, if CareOne is telling you not to answer the phone, dump them.  You should have answered the calls and referred them to CareOne to handle the matter.  Then your creditors could have called this debt management company and dealt with them.  Also, if you had done that, there is a good chance they would have stopped calling you.

While I'm curious how you found out that the credit card companies were unaware, it really isn't that important.

So what can they do?  In both cases, they can report it to the companies that calculate your credit score, and to be honest, they probably already have, so that horse has left the barn.

Because neither of you own anything, there isn't anything for them to put a lien on.  However, even if you did own your own home, they can't come kick you out of it even if they get a lien.  A lien on a primary residence (aside from mortgages and tax liens) cannot be acted upon by taking possession of the home.  It just means that when you do sell (or try to refinance), the lien would have to first be satisfied.

Should the credit card company get a judgement against your partner, they don't "freeze" his account, they simply take the money in there.  They don't consider outstanding checks, so he could feasibly have many checks that bounce.  I doubt if he owns a car of any significant value, so they really aren't going to be interested in that as it has no resale value to them.

The rules on what they can do to someone who collects Social Security Disability are different and I honestly am not sure what they can or can't do.

All of the above is something that CareOne should have discussed with you when you initially signed up with them.  I would suggest you call them first thing tomorrow morning and discuss this whole thing with them.  If you don't receive satisfactory answers, then find another debt management company.  Tell them what happened with CareOne and find out if you are able to transfer your case to them without incurring additional costs.

As an aside, I know that financially, you and your partner are totally strapped and how hard it is to live under such circumstances.  However, that isn't an excuse for getting under with your credit cards, Chris.  You need to get this matter straightened out.  If you have trouble, I'm sure your dad will help you with the calls.

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RE: What is the worst credit card companies can do if y... - 1/23/2013 7:05:59 PM   
LafayetteLady


Posts: 7683
Joined: 5/2/2007
From: Northern New Jersey
Status: offline 		While I can't speak for CareOne, there are debt management companies that are reputable and can be of great help to people like the OP.  The key, as you imply, is that they are like a needle in a haystack.

The problem here is that one needs to be able to negotiate with the credit card companies to achieve the desired result.  There are many people who just don't have the ability to do that.

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RE: What is the worst credit card companies can do if y... - 1/23/2013 7:13:23 PM   
RumpusParable


Posts: 1923
Joined: 7/7/2005
From: NYC now!
Status: offline 		I'd caution you to google their reputations... from a quick go at it what I'm finding isn't very good.

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RE: What is the worst credit card companies can do if y... - 1/23/2013 7:31:32 PM   
ShaharThorne


Posts: 11071
Joined: 2/24/2009
From: Somewhere in TX
Status: offline 		I had an outstanding bill with a doctor's office that I was not aware of until I got a call on a Sunday by a collector. They were using a computer so I ignored it until I was digging through some old bills that I had paid off. Gave them a call and they wanted the full amount (I am on SSI, so what I get is limited). Told them that I can handle $100 a month for 4 months. My last payment will be paid in February.

I also got student loans so after I get the figures, I will start paying them.

My card is a debit card hooked into my checking account. I check my balance every day because sometimes I tend to spend money on ebay (I order books and yarn). I also allot myself monies to get my meds, pay my insurances and my internet.

All that is need is to budget yourself and find out who the hades you are suppose to deal with.


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RE: What is the worst credit card companies can do if y... - 1/23/2013 7:38:20 PM   
tj444


Posts: 7574
Joined: 3/7/2010
Status: offline
quote:

ORIGINAL: LafayetteLady

While I can't speak for CareOne, there are debt management companies that are reputable and can be of great help to people like the OP.  The key, as you imply, is that they are like a needle in a haystack.

The problem here is that one needs to be able to negotiate with the credit card companies to achieve the desired result.  There are many people who just don't have the ability to do that.

sure there are some good ones.. but this one doesnt appear to be one of them.. Now the problem has been compounded.. not only cuz of the problem with this scammy company & money paid to them but also cuz after 6 months of no payments and no contact, their credit rating is likely been majorly damaged by all that time passing by.. some accounts might have already been sent to collection agencies..

I expect a person can negotiate by letter and not spur of the moment & under pressure over the phone. If you have already read the consumer debt laws and know what they can do & cant do and what you can do, and you put a payment schedule that you can actually handle in writing and send it to each of them.. and if its gone on for long enough that its been passed to collection agencies, some of them will make reduced amount offers.. but by then your credit rating is in the toilet anyway..

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RE: What is the worst credit card companies can do if y... - 1/23/2013 7:39:58 PM   
Toppingfrmbottom


Posts: 6528
Joined: 6/7/2009
Status: offline 		They'd have a mighty hard time putting leins on something we don't have. We don't own property, or a house. We have zero assets and live with my parents.


We joined care one credit, and they were supposed to be handling things, but their strategy is apparently to say nothing till they have enough money amassed to pop up with a settlement offer, and then try to negotiate with the company to come down in what they're expecting, so say they want 1 k they're going to negotiate to get it down to 400, , but in the mean time they're not telling our creditors that's what's going on, they're staying silent and letting our creditors think we're ignoring them. We were told not to answer the phone when the creditors call, and not to speak to or make any kind of agreement with the creditors. and I am so majorly freaking out now that I have found out that the creditors have no idea we're working with a 3rd party company. I was under the impression careonecredit people were going to talk to the 4 creditors and let them know what was going on.
quote:

ORIGINAL: MAINEiacMISTRESS

quote:

ORIGINAL: Toppingfrmbottom

They'll call you a shit ton of times, and they'll sell your account to a debt collectors, but after that? what if it's been like 5 months and you won't answer your phone or talk to them?

They could end up putting a lien against your property, though I'm not sure how far it has to go before that happens.

You really should try to work to clean this up before your credit is totally ruined. If your current credit cards are high interest, ANY interest actually, contact another credit card company (check online for cards like Discover, Capital One, Citi bank, Chase, which I've used all of for years with NO INTEREST FEES, NO YEARLY MEMBERSHIP FEES, except the initial transfer fee --usually about 3% of total, a one time charge) and see if they have a 0% interest balance transfer rate.
Don't be afraid to CALL the number on an old card you have lying around that you haven't used in a while, many times they are happy to have you back and will snatch that owed balance away from the "big greedy bastards" and will give you a new rate of 0% on the balance transfer if you ask (So, ASK!).
Most of these no-interest rates last about a year to 18 months, so it can give you a chance to get your head above water and maybe start REDUCING your debt---when the time is up, find another 0% card offer and transfer it again. (do it before your credit is damaged!!!)....even if you can't make more than the minimum payment every month, at least it will stave off disaster while you hunt for a solution/job.

I have done this 0% hopscotch for 15 or 20 years now (I've even bought a CAR and LAND with these 0%'s ) . Just keep the cards when they are paid off, DON"T USE THEM (freeze them in an iceblock, I hope you've learned your lesson!), just leave the paid-off cards dormant...and eventually the 0% offers will come tumbling in in an attempt to entice you back.

--MM

quote:

g a lien against your property, though I'm not sure how far it has to go before that happens.


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