Can a debt collection agency bankrupt me?

I have received letters and calls from a debt collection agency over a $2000 credit card debt, yes the debt is mine, however the caller is always rude so I do not offer much to her. Now I have received a letter stating that the are commencing bankruptcy proceedings against me and with that letter was a copy of my land title. Can they really do this? What should I do?

Can a debt collection agency bankrupt me?
I think you need to re-read the letter. They can not file bankruptcy on your behalf. Credit Card Debts are unsecured and they can not take property to satisfy that debt. The only time they can take property is when that property(Car, Land) was a security in the debt. They can however sue you for the money owed, and you may have to sell something to pay the judegement.





Now if the debt was somehow secured by the land they could start foreclosure proceedings against you. I would consult an attorney who deals with Bankruptcies and Foreclosures. Generally their first consultation is free so it should only cost you time.





If the letter says what you say, then what they are telling you might be illegal. The lawyer should be able to help you take action against them if it is. They are not allowed to threaten you with actions they can not or have no intention of taking.
Reply:Oh PLEASE tell me you live in the US!





If so, pretend someone just sent you a winning lottery ticket. If it says what you claim, they just violated the Fair Debt Collections Act which prohibits a collector from threatening actions they do not/can not do.





Sending copies of your property title implies further legal action.





I would see if there is a local attorney who can look this over, hopefully someone with some knowledge in collection laws.





If I was handling this, I would immediately send a letter to the collection agent point this out, and demand a full debt validation. Be sure to look at the Fair Debt Collection Act and ;you will see what I%26#039;m talking about.





Worst case, if they do sue you then you can counter-sue for their violations. This will void out the attorney fees and maybe get you $1000 knocked off the debt.
Reply:Bankruptcy laws vary depending on where you live, however do the best you can to pay the debt because $2000 is not worth going into bankruptcy .
Reply:They cannot bankrupt you and they cannot attach your property. Credit cards are unsecured debt, meaning that your word was the only guarantee. They can sue you, but they cannot liquidate assets. All they can do is get a garnishment of your wages, which they would never bother with over a $2,000 debt.





Collections agents will use any underhanded trick in the book to scare you into paying them before making a mortgage payment or utility payment. They want their money and don%26#039;t care what they have to do to get it. This is just a creative scare tactic to get you to put them at the top of your list of priorities.





Next time they call, tell them that their letter sounds like a good plan and for them to go ahead with it. You%26#039;ll see a new tactic immediately.
Reply:I think you may have misread the letter. But, if in fact that is really what the letter said, they can%26#039;t bankrupt you. That is just silly. I own a collection agency if you want to email me I would be more than happy to talk to you about this.

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