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Unlike what other persons have said yes this most likely will go to court and you will have a judgement put against you. Read the papers the court news people are having judgments against them for a third of what you owe. So you will have the original amount plus late fees, plus court costs, and anything else they can come up with. Yes they can garnish your wages, your tax returns, your bank account etc. What you should of done in Feb 07 is put it in forbearance ie you collect interest, but the bill is put in suspension with no affect on your credit. When it all fell apart should have spoken with them explained the situation and got it back on track. The best thing to do with creditors is call them, or if you get a call call them back, be respectful, speak with them and try to come up with a solution. I have found that most will work with you to find a solution. Some like (Wells Fargo would not work with my son) but most will. The key is to admit you are wrong, fell into some hard times, or made a mistake, be calm, be respectful and communicate. It is all in the manner of which you approach the situation.

Source(s)

Have had many hard times and have come through them on top

by Pengy

1 year ago

Asker's Rating: 

I wouldn't worry too much. The collectors will probably not sue you for 3200$. It really isn't that much and wouldn't be worth it for them to go to court. What makes you think they are going to sue? Have they threatened to sue you. If they have left messages or sent letters saying that they are going to sue you this is highly illegal and you can in turn sue them for violation. 1000 per offense. So keep records and any threatening messages they leave. If every collection agency has dumped you I would see this as a good sign. Don't worry too much my friend, just make sure you make payments on all your other accounts so you can start rebuilding your credit. It seem to me you are in your early 20's so you are still young. In four of five years with positive marks on your credit you will be fine. I was in a similar situation 8 years ago, 15000 in debt, collections calling me, and i was never sued, never paid them a dime, and now all those marks are off my credit. Oh and if they do take you to court, the worst that can happen is they can garnish some of your wages. But not so much where it will cause you living hardship, so in essence it would be just like setting up a payment plan. creditcardwarehouseonline ...

by bak889988- 1 year ago

I defaulted on a student loan from 1988/1990 and did not start paying on it again until 2001. Got the letters from the lawyers, that i was being sued. they filed the paperwork in court but we never went to court. i pay 35 month....for...the...rest...of ...my..life. I also have a wells fargo loan now in collections. i ignore them and don't answer my phone to numbers i don't know. answering machine, don't have it. just erase the message. until you have money, there's not much you can do...

by wendy b- 1 year ago

I would call them and work out a payment plan. Dont let that go into collections like that.. You will regret it.

by Truth Chick- 1 year ago