Wife went crazy and ran up $19,000 on my credit card, I got pissed and stop paying it. I was served at my home 7 days ago stating I have 20 days to respond or a default judgement will be awarded to the collection agency. What is my best move? Bankruptcy? payment arrangements or am I just going to have my wages garnished. Last time I talked to the credit card company was after seeing the balance, I told them I did not know who made the charges and to cancel the card. Shortly there after discovered it was my wife so I never called them back. Honestly have just ignored this thing completely, but now it is coming back to haunt me. Help
You are on the right track. Assuming it is a debt that you legitimately owe, negotiating a payment plan or bankruptcy are two options. Both are probably better than a default judgment followed by garnishments, which would be your other option.
These things don’t get better with time. In general, your options are somewhat limited once you have been sued, but they become more limited once a judgment is entered against you. Talk to a bankruptcy attorney in your area soon to determine your best course of action.
It may be possible to defend the lawsuit. Now, if you have other debt problems, a bankruptcy is probably your better option. If, however, this is your only problem debt, I would suggest consulting an attorney who defends collection cases.
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