Hey tara1748,

Do you have the contract that with PC Mastercard?
You NEED to get a copy of that. In it will outline everything that they can sue you for..

This MAY include:
1) The principle owing
2) Interest owing
3) Lawyers fees (The banks lawyers fees aren't going to be cheap @$400 per hour!!)
4) Any other collection costs.

There isn't any chance that the judge will be lenient. Why would he/she? There's a contract in place and the bank is going to go after whatever you owe them. The difference is that they'll use lawyers which they'll probably charge to your account.

As well, if this goes to court and the creditor gets a judgment, you could have your wages garnished, etc etc etc.

The judgement could go to the sheriff's department. The sheriff's dept could come to your residence and repossess items.

Getting sued by a major creditor will not be fun, especially if this goes to court. BE VERY CAREFUL..

I would advise that you settle the amount with them.

I had done a post like this one several months back, and I got some good advice. Let me try to tell you the story without getting long winded. I had a PC mastercard, due to some financial troubles, I stopped paying on it and it was sent to a collection agency, Canadian Debt Recovery. The people there were intimidating and threatening, so I decided to retain a lawyer. Well today was the settlement conference, the head of CDR didn't want to listen to anything of reason from my lawyer, we were offering a generous monthly payment, when I first got served with collection agency papers, the debt was around $7k and now its over $9k. I had a talk with my lawyer, and he said its going to go to trial, so this is what I want to know from someone that has been through this.

What can happen when this goes to trial?

If the judge says I have to pay the whole amount including the interest, will I be able to make monthly payments?

What are the chances of the judge making a ruling of me just having to pay for the principal amount, without the interest?

Is it possible to ask the courts for the collection agency to pay my lawyer costs, like subtract that amount from what I owe?

Any other scenarios that could be possible?

Thank you in advance