07-21-2008, 05:34 AM
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Senior Member
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Join Date: Nov 2006
Posts: 1,411
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Quote:
Originally Posted by klhh
I have received an arbitration award document that says I am supposed to attend a hearing for in a week. It is regarding a credit card debt I owe. I have been working with a debt negotation firm and have been quite successful, but this this company will not negotiate and my debt negotiation company has told me that they have done all they can at this point. This debt is only in my name. It is a a large amount. I am self employed part-time. I live in MN which my understanding is not a community property state. Can anyone tell me what is going to happen at this hearing? Should I get a lawyer to take with me? Can they freeze my bank account? Any insight would be appreciated. I did try to call a lawyer to ask these questions but she does not seem to want to call me back. Not sure if I need to set up an appointment or try to find someone else.
Thanks in advance!
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I have never heard of a credit card company being allowed to "freeze" or attach someones bank account--unless, perhaps they won an award of some type, or a judgment against you. Even then--I have never heard it done. If you have money to hire an attorney, I would do so. Obviously, it is always better to be prepared---but the question arises, if you cannot pay your credit card, how can you hire an attorney?
Many attorneys offer free or low cost consultations---I would look for one that does so and consult with them. They would be more versed in the laws of your state---and also laws governing credit card collections, etc. I am honestly surprised to hear of a credit card company that isn't willing to work with debt counseling centers ( non profit ). The credit card is unsecured, I assume? No collateral? Perhaps you could GOOGLE the name of the credit card company and research its collections practices online and read from other people what their experiences have been.
Good luck.
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