Ignoring credit card debt is common for many consumers, that is, until a lawsuit is filed against you for outstanding debt owed. You still have the option of making an agreement with the creditor and possibly adverting the suit altogether. An agreement to pay what you owe may reduce legal collection action taken against you, which could include garnishing wages or a bank levy.
Put an Agreement in Writing
It's possible to avoid having a lawsuit filed against you by making payments on what you owe. This includes settling past delinquencies and reviewing all information related to debt that is due. Satisfying a court judgment includes paying the balance off on the account in question. If you make an agreement with your creditor or debt collector, make sure to get the information in writing. Once it is paid, make sure it is reported to credit bureaus as being paid as agreed; you'll know this by reviewing your credit report.
Creditors Are Willing to Settle Outstanding Debt
Creditors are usually willing to settle outstanding debt since it lets them recover what is owed. A debt settlement may be created to help with what is owed and many debtors are able to settle for less than the original amount. This allows debtors who are unable to satisfy the full amount to resolve the issue based on their budget. A debtor may begin by offering to pay a certain amount and the creditor may counter the offer until both sides agree. Questions or concerns can be discussed with a legal expert.