Dollar amount minimums CA's will sue for

[esp13]

I know that technically, the CA can sue for any amount owed and I would be liable for all attorney and court fees if found liable. But, I'm sure there is a ballpark figure that they look at and just say "We'll just keep trying to harass and collect." I have a lot of collections in the $200-300 range a $6k repo and haven't seen any aggressive moves to collect. Will they be more likely to sue once I start asking for validation (if they can prove validity). Several are still withing SOL.

[jjgross]

Originally Posted by esp13

I know that technically, the CA can sue for any amount owed and I would be liable for all attorney and court fees if found liable. But, I'm sure there is a ballpark figure that they look at and just say "We'll just keep trying to harass and collect." I have a lot of collections in the $200-300 range a $6k repo and haven't seen any aggressive moves to collect. Will they be more likely to sue once I start asking for validation (if they can prove validity). Several are still withing SOL.

It just depends the higher the amount the better chance they will.Smaller local companys will and have sued for small amounts.

[Trish]

I have seen several people say under 1k, they usually don't bother.......but I had a CA try to sue me for a $700 debt.

In the $200-$300 range, it is much less likely.....but not unheard of.
On the 6K repo....there's a good chance they will try to sue. A 6K debt can turn into 8+K really fast when they add on fees and interest.......making it worth their time to pursue you.

One piece of advice.......if you have acct within SOL and you don't have the money to pay them (and they are not sending you letters/calling you)........then DON'T DV them. That's just poking a sleeping giant.

Let them be for now and go after the ones that are out of SOL first. Then you really don't have to worry as much. While you're working on those......maybe save up some money in the meantime so that when you do finally contact the ones within SOL (or they contact you), you will be able to make payment arrangements/offer a settlement.

Hope that helps.

[esp13]

Thanks Trish...


I was thinking along the same lines, just wanted a few opinions. I have moved around and changed numbers enough that they haven't been able to keep up. I'm trying to save up and combine with my tax refund to purchase a home in March/Apr and I figured lenders are gonna want me to pay down the bigger/newer debts. Sucks that 1st time homebuyer assistance isn't around anymore, but hopefully I can get a 3.5% down FHA.