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Anyone been sued by a collections agency?
I have several credit cards that I stop paying on about 2 years ago. I like many others struggled with my bills after 2008 and I had to give up on some debts to make ends meet. I have done quite a bit of research and it found this link http://hanavee.hubpages.com/hub/You-Can-Beat-Credit-Card-Debt-Collectors

This link basically outlines that the collection agencies do not have an agreement between you and them with your original signature. They only have what you agreed with the credit card company. As such it does not hold up under contract law. No agreement, no signature no contract. Folks have followed this advice and won.

To my thought I would rather file ch. 7 and be done with the problem and take the 10 year hit to my already poor credit rating. But then, considering that the unpaid credit card debt will fall off 7 years from the date of last payment, it seems like a worthwhile gamble. My state has 6 year statute of limitation for a written and oral contract. So, it seems, that after 4 more years I cannot be sued by the collections agency and in 5 years the delinquent debts will fall off my credit report.

Now, I'm just curious how many folks have actually been sued by a collections agency?

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You might consider the costs

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The cost of filing is around 3 to 5 hundred dollars. 

The cost of an attorney could run $3k. Or more. 

Is the cost in relation to the debt worth the hit to your credit. Or would paying off the account and having a paid debt show on your report bring you closer to you goal of a Good credit score be a better choice. 

I have heard of people being sued. State finance laws apply and determine how effective those threats of lawsuit can be.  

Good luck. 

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