What should I do if a bank is suing me for unpaid credit card money? 34 Answers as of January 05, 2012

File bankruptcy if you are qualified or pay the debt.

Here are some options: 1.File for bankruptcy protection, or 2.Call the attorney for the bank and find out if you can make payment arrangements to avoid a judgment against you, or 3. Call the attorney for the bank and try to negotiate a settlement

You can seek assistance for debt relief such as bankruptcy, credit counseling or debt forgiveness a/k/a debt settlement or negotiations.

When was the account closed? If it was beyond the statute of limitations they cannot sue for collection.

Bankruptcy will wipe it clean. At this point, even if they settle, they will add at least another 2k of attorney's fee on the balance.

If you move quickly, you can file bankruptcy and stop the suit. If you qualify for a Chapter 7 case, you may be able to discharge the obligation completely. The alternative would be to defend the collections suit if you have any cognizable defenses, counterclaims or offsets.

You can fight them, negotiate with them or let them win. A bankruptcy would stop the whole thing.

You can file a bankruptcy to either eliminate or reduce the debt.

You can attempt to settle the debt or consider filing bankruptcy if you're unable to pay. It is very possible the bank will end up attempting to sue you at some point.

You can file a bankruptcy to discharge all your credit card debt, you can answer the summons and defend and try to negotiate against that creditor in court or if you do nothing, they will then be able to garnish your salary, freeze your bank account and put a lien on any real estate you may own.

I suppose that it doesn't matter what amount the bank sues you for. if you don't have the money to pay them or at least make an offer to settle. If you really feel like arguing and eventually settling this case, you must file an "answer" to the complaint within 28 days of the day you were served with the complaint. Read your Summons. It has a few directions on it for the filing of your answer. Answers are not very hard to do, but you would normally hire an attorney to handle this matter and negotiate a deal based on what you actually owe and what you can afford to pay. However, if you are like most people, you probably owe most of what they have sued for and can not afford to pay any of it. You also may not be able to survive if you get garnished at work. So, maybe you should see an attorney about getting a fresh start in bankruptcy. Mant attorneys don't charge for the first consultation. Give it a try.

You have many options. You can explore your possibilities of filing for bankruptcy or answer the lawsuit. I would not ignore it. If you ignore, they will get a judgment against you and then can garnish your bank account and/or wages.

Two courses of action: You can settle with the bank, usually for a discount if you can pay the agreed upon amount quickly. If not, the only other option would be to file bankruptcy to discharge the debt. Make sure you do so before the judgment is entered.

Consult with an attorney. You may have a statute of limitations defense, depending on how long the debt has been outstanding and what actions the bank has taken. Depending on your overall financial circumstances, you may want to consider filing for bankruptcy.

File for bankruptcy or pay whatever the bank will accept in settlement.

If you are being sued by a credit card company you might want to contact them to make a payment arrangement. Or you can let them get a judgment and allow them to take 25 percent of your wages by garnishment until it is paid. You might also want to consider filing bankruptcy.

Pay it or file bankruptcy.

File your bankruptcy, unless you can pay for it or settle it and even if they settle it they'll want a lump sum, not payments.

You should considering hiring an attorney who specializes in debtor defense. Your debt may be barred by the statute of limitations or you may have other valid defense. If necessary, an attorney would be able to also negotiate a settlement. If you chose not to hire an attorney, you should, at a minimum, answer the lawsuit to prevent a default judgment.

With interest there's a good chance you owe them that much. If you have other debts and your income is low enough, you may want to consider wiping it all out with a bankruptcy. I suggest getting a free consultation at least with an experienced lawyer.

How about file for bankruptcy? Bankruptcy can discharge credit card debt.

I think there is a typo in your question - what year did you close the account? If it has been more than 7 years, the statute of limitations has run, and they can no longer sue you on it.

You can defend against the lawsuit, negotiate a settlement with the bank, or seek discharge in a bankruptcy case. The increase from $11,000 to $18,000 is not a problem for the bank to collect the $18,000 if interest has been accruing for years. Unfortunately, your details omit the last number of the year when you closed the account, which prevents me from estimating whether the difference is anomalous or not. If you did owe $11,000, the bank likely will receive a judgment to collect $11,000 plus interest plus attorneys' fees and costs from you and that judgment will earn interest after it is entered. Once it has decided to pursue a lawsuit, the bank is unlikely to settle for much less than it is owed, especially if you have property or a job from which the bank can collect. That leaves the last option, which is to discharge the debt in bankruptcy. Over the years, I have learned that my clients would have been best served by coming to consult with me before they try to pursue any non-bankruptcy solution to discuss all their options and to design a plan to eliminate the debt, whether in bankruptcy or outside.