Hello mitra haru,

1ota company named "Legacy Reliance Group" le malai call garera mero discover credit card (credit limit $500.00) ko debt pay gara natra court ma summon garchhu bhani kind of dhamki diyo..Note: ahile ko balance about $1800.00 jati chha. Sath-sathai tyo companyle malai only $500.00 pay garyo within the nearest deadline (few days) bhane sabai debt tire saraha hunchha and future ma kehi pani tirnu pardaina bhanyo. I mean sabai debt clear hunchha re.

1. K yo company real ho ki fake and how about the offer?
2. Can a credit card company sue the debtor if he/she does not pay the monthly fee for a long time?

By the way mero credit card 2010 ma issue bhaeko ho.
Yedi kohi sathi yestai situation ma pari umkinu bhaeko bhae or yesto problem tackle garna safal hunu bhaeko bhae or kasailai yas bare knowledge bhae please do share with me.

Well, First of all i am very sorry that you fucked up your credit for 1800 bucks. Shame on you. Credit / credit score is one of the most important trust tool in USA to get loan, finance, home or even job. I would recommend calling discover apologizing and bargain with them about the amount to pay. It seems like in your case it may have been reported to other collection agency so google, phone and find about that company and pay 500 asap but make sure you make them send any legit written notice and cross check with other things and your bank. My advice to newbies "dont fuck up the credit, be frugal and be smart about using plastic".

Status of your credit card right now = charged-off

What does this mean?
This means that Discover sold your credit card debt to a collection agency, which in your case is, Legacy Reliance Group. Going forward from now, Discover has nothing to do with your credit card account, you will only be dealing with Legacy Reliance Group to settle this debt. Actually, in reality, Legacy Reliance Group will be dealing with you. They will find ways to make you pay your debt.

And please, please do not settle the debt for a lesser amount than you owe. Pay the full amount that you owe. Do not settle for $500. If you cannot pay it right away, work out a payment plan with them and pay it over the next few months. Just DO NOT settle. Pay them what you owe.

What is so bad about settling for $500?
Well, your credit score is already messed up at this point. If you settle, that debt settlement could hurt your credit score as much as bankruptcy would.

Can a collection agency sue you?
Oh, hell yes!

If you have more questions, ask away....

Short answer to your question: YES! Credit Card company as well as Debt collection agencies can definitely sue you in the court, and if you disregard their notice of action/appearance, a warrant will be issued against you.

What are the chances of them suing in this case? Minimal, for 500$, the chances of them suing you are less, but again, you never know. Can never be 100% certain.

So, like people have suggested above, work out a plan with them to pay the entire 1800$ (low monthly installments) as your credit history is worth much more then 1800$. For almost everything - applying for a auto, mortgage loan, looking for an apartment, getting new utilities/internet/cable service, applying for a new phone/plan, and most importantly looking for a job - they check credit history and if yours is so low that you had to settle for 1800$, you can imagine what the repercussions will be. Take the advise, work out a settlement plan and pay off the 1800$. Good Luck.

Do not just pay anything on the phone. If they are demanding 500 ask them in writing that they will close that account and record it with the credit agencies. Collection agencies are notorious for lying on the calls. Get everything on writing. If they call again ask them to send a letter which states above condition.

Credit card company/Bank lai lakhau ko murga banayera nepal bhaage k huncha ni? K tyo daari wala musalte lai khoje jhain khojchha? Yasko baarema ni bujhna paye hunthyo mitra ho..

1. First call your CC company and tell them that you are interested to pay the debt. Make excuses that sounds reasonable.

2. Second there is this thing called Credit Score which maintains your reliability and trustworthiness. When you don't pay your debt, these companies report you and your scores go down. When your scores go down, you are looked upon as a dishonest asshole and you will be denied loan of any kind, opening bank account, buying vehicles etc. And, it's all linked to your social security number. So, every organization whoever asks you for your SS number, they run certain checks to make sure you are a reliable person. It'll take decades to get your status back if you maintain good records but I think any human with brain don't wanna go this way. So, if you intent not to pay the debt, don't do it, just pay it off or ask for payment plan.

Do not worry about it, unless it is a substantial amount they will not bring it to anywhere. Collection agency buy debt in dime for a dollars. If they loose not loosing ton of money. Next time tell them, I have disputed and do not call me again. Once they hear disputed , their best bet is to back up.  Try it , you may not hear a call from them. How ever this collection agency may sell to another party, the mantra is disputed. 

Bro,
Here's a few things in point form that could be useful.
1. Yes, they can sue you to claim their asset (your liability) as many above pointed out. But likelihood of that is close to zero. The overhead for the credit collections to take you to the court would probably be more than $500.
2. You should not have abused your credit card facility. This ruins your credit score that will most certainly mean that you will not be able to obtain further credit, eg. mortgage, car loans, personal loans etc. Your best option would then be Dhukuti or Dhikuti or some crap like that, which some ancient folks from Nepal seem to get fixated upon.
3. More important question is: Now that you have screwed it up, what's the best course of action? Obtain your credit history from equifax/tranunion etc. and check what has been reported already. If it looks pretty f..ed up already, I sugget you do not pay a single cent as it is not going to help you with your credit score. Only if the collection agency cleans it up first, then you offer to pay up.
4. As someone pointed out, it does not take decades to reset your credit history. It takes about 6-7 years. So you will have another shot at building your credit history again after that time frame. But you can forget about any major purchases during that time.

5. Always remember the limit in the credit card is not your property or your inheritence. It's a loan that you have obligation to pay back. It's morally wrong to steal money from others.

Hope this helps...

Thank you all for your kind advice.

I don't think I can save my credit history because I owe to other credit card companies also. It is another thing that they haven't taken any action yet. I owe to three more credit card companies a total of about $8000.00. Believe me I had to ruin my credit history because of my difficult unavoidable situation a couple of years ago. I knew and know by doing so, I will ruin my credit history for the rest of my life as long as I stay in USA and there will be many difficulties as you guys mentioned such as buying house, cars, rent and etc. But I managed and will manage to live up like that.

Yes, the Legacy Reliance Group sent me a couple of forms to sign up and submit $500.00 for settlement of $1800.00 balance. I'm wondering if other companies also do the same and ask to pay the debt, I can't pay that huge amount. In my view (I may be wrong), even if I pay $500.00 bucks to this company, it won't help me clean my credit history, right? I just want to pay this amount so that they won't take any sever action against me.

I heard that the bad credit history will be disappeared after 7 years? Has anyone heard about this? In my credit report (from two credit reporting companies) also, it says something like this:

" Estimated month and year that this item will be removed: 06/2017 "

Please share with me. Thanks.

Bro,
Credit history is not kept forever. It will disappear in 6-7 years. Paying $500 will not do anything in your case. Just tell them that you don't have any money and will not pay up. That should be the end of it. If they keep calling you, tell them that you know your rights and ask them to write letters, which you will ignore of course. They cannot call you without your consent. They will go away once they figure out they are dealing with a deadbeat. :-)

Bro,
If you are already fu***ed up in multiple ways, like SOM bro said, Do NOT PAY ..

1, When was the last time you paid? your 6-7 years counts from the day you stopped paying so hopefully you have only few years left.
2, Open up a secure line of credit( around 200) with capital one credit card. Pay one time fee(less then 100 i believe) and use only less then 30%..pay on time.
3, hopefully by the time your 7 years nears....you will have slowly build up your credit with capital one as long as you pay and keep it current. After 2 years or so they will increase your line of credit for being loyal and up with them .
4...DO NOT APPLY FOR ANY CREDIT RELATED STUFFSS>> more you do , more will be fuc**ed
5, good luck


And for anyone whos preaching you about why you shdnt have screwed up...give them ur middle finger...
and for anyone whos giving you right suggestions knowing you screwed,,appreciate them

100% with urban khashi bro. Do not apply for credit/loans until you clean up your mess. Otherwise, the rejected credit applicaiton stays with your records for 7 years from the time of rejection...

Urban khasi, you missed the point. Asking for loan and not paying is not a good thing and among several bad things its worse. He screwed himself so i wanted to reply him with a note "shame on you". I also wanted our friends to understand what is credit and it's importance. Because many suggest of gathering credit and not paying to 18yrs old who come to this country without having their own bank account in Nepal. That is totally wrong and irresponsible. I have seen folks who have 6fig salary job in hand but cant buy a car to commute there. Why? You know. My only intention was caution.
You have given excellent suggestion but middle finger that was uncalled for.

Road to homelessness is very near to you my friend. Only some rich dogs can save u now.

And urban u have no idea what u r talking bout. Can he get credit card? No.
Can he get some prepaid cards? Yes.

Check statue of limitation of the state you're living. after certain years they can't sue you. if you're almost close to your statue of limitation then doing partial payment can only hurt you cuz it will extend the reporting of that bad debt for 10 yrs. in 7 yrs your bad credit will fall off but if you make partial payment it will stay there for 10 years. let's say you live in Idaho u r defaulted for 3 years, your statue of limitation is 5 yrs, if you make 500 payment out of your 1500 debt in four years , then that will remain for another 10 years but if you don't pay then it will fall off in 7 years and after 5 years they can't even sue you.
worse thing you can do is to talk to these scum feeders. your account went to collection after some time, then to another collection and another so on and so forth, to the worse scum as time went by. these scums buy these loans for pennies and scare the hell out of you to collect some money. do not pay, do not talk to these ppl. if they make you agreen anything verbally or in writing then you're really screwed for 10 + years. Not only that but other collections will share that info too and come after you. Do some research i would say yes pay it if you can but paying won't help you unless you get them in writing to expunge it out of your credit report and then you'll have to write each credit bureaus to take the bad record off their record after you receive the letter from the collection agency.
credit card companies charge over the limit fees and high interest to make up defaults like you, as bad you're think you're , you're actually a very small % out of their earning. They already have plans to make up for defaults like your case. US economy and law knows that even good ppl have unforeseeable conditions to default on their loan, hence there is bankruptcy law and 7 years of reporting, and strict guidelines for credit collection. do some reading.

http://credit.about.com/od/debtcollection/qt/oldcollections.htm

http://www.forbes.com/sites/cateyhill/2012/06/06/3-debts-to-consider-not-paying-off/

Lovetosuggest, I agree.

Bittertruth ,
http://www.capitalone.com/credit-cards/secured-mastercard/
hope that link helps you understand a bit...now pls do not argue!

urban khasi bro, the link you gave is for secured card. It is just like using debit card.

Lamopuri. I usually give up on arguments that makes no sense. They dont get it that someonr who has fcked up his credit score cant get financial freedom as one who hasnt. Just looking at the link trying to validate his view..I couldnt control my laugh and decided to remain silent but then again if they try to equalize those who fcks up their credit can still getaway I have no words. Secured cards are for ffs in no way similar to unsecured ones.