Will a Creditor Sue Me?

If you have unpaid debts, at some point the creditor or debt collector might sue you. While not all creditors will file a debt collection lawsuit, if you have income or assets that the creditor can grab, it's likely to sue you to get a judgment. But if you get served with a debt collection lawsuit, don't panic.

How likely is it for a creditor to sue?

Credit card companies sue for non-payment in about 15% of collection cases. Usually debt holders only have to worry about lawsuits if their accounts become 180-days past due and charge off, or default.

What happens if a creditor sues you?

The complaint will say why the creditor is suing you and what it wants. Typically, that's the money you owe plus interest, and maybe attorney fees and court costs. ... With a default judgment the creditor may be able to: Garnish your wages.