If you stop paying the minimum monthly due payment on your credit card, you can be sued. While the original creditor has the right to sue, often times, the debt is sold to a third party debt purchaser, a company that buys debts at a steep discount with the sole purpose of collecting.
Yes, this is legal.
Every state has a time limit in which a lawsuit can be brought. This time limit is called the Statute of Limitations. In Connecticut and Vermont, the Statute of Limitations to sue to enforce a written contract is 6 years from the date of the first missed payment.
If you received a lawsuit for a credit card debt, you should know there are ways to protect yourself.
Contact us to learn how we can help.