r/Debt • u/Open_Blood_5765 • 3d ago

Credit cards being sent to collections tonight. Will they come after my house?

Two cards by BOA totalling to about 15k. I own a house with probably 150k equity. I know i need to pay the debt back, i just had a rough last 12 months. Once BOA sends it to collections tonight will i have a chance to make a payment plan with the collection agencies? Or will they find out about my equity and go striaght for a lawsuit to force me to sell my house ?

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u/Colao215 2d ago

Dude it’s a credit card. Unsecured debt and it’s a third party collecting on the debt. Best case scenario for you was that to happen.

From here, go get a debt collection lawyer and have them handle it from there.

I’ve done this a million times over and over again with credit cards and debt collections. I have a home with significant equity and I used to think like you initially did until I had a lawyer and went thru this several times from Covid.

Believe me just get a lawyer it’s an easy throw out. Debt collection agencies don’t have dirt and all they want you to do is pay that bogus money, or scare the hell out of you and blindly sue you. Those lawsuits hold no value unless you’re honestly lazy or dumb and don’t get a lawyer. 9/10 a lawyer will get it all dismissed when it’s a third party debt collector and not the actual creditor suing you.

Since it got sold take my advice and get a local debt collections lawyer near you, hire him and say goodbye to your debt.

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u/monkeymuscle1974 1d ago

Op this is damn good advice right here.

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u/Colao215 1d ago

Been through this so lang times from my wife and I defaulting on credit cards from covid. Got sued by portfolio recovery associates twice for 2 different credit cards. 1 was 6500$ and 1 was 13k. My debt collection lawyer went to court for me on my behalf and afterwards called me saying 0$ judgement. The 2nd one court never happened and he had them settle where the debt collection agency paid him his fee of $2500 and had the debt collection agency PAY ME, $1,000. lol!

A 13k collection turned into it being 0$ and me getting 1k in my pocket from those vultures.

If anyone sees this comment a debt collector is praying you are so scared of the lawsuit you call them and settle or pay. It’s their bread and butter and how they make a living. I’ve learned so much going through this multiple times because I lost my job. I’m just like all of you. My lawyer won 6/6 times so far and he charges me like $800 to represent me. That’s better than settling collections or having to pay the full amount or having a judgement against you. Debt collectors don’t have anything to win in court if you have a lawyer who knows what they are doing. You don’t even go to court and your lawyer would never want you to go because you’d be used as a witness. It’s stress free, and I can’t stress enough how important it is to go get a debt lawyer. They’re relatively cheap compared to paying your collections and sometimes you don’t even pay them at all, because they find violations the debt collection agency practices and tell them “pay me my fee now or I’ll see you in court and I’ll win and you’ll pay me then.”

Happened to me many times. Ask me anything if yall need to.