I'm new here and need a bit of advice. I defaulted on a few credit cards (department store, $1000 and less). Last payment was May 2013. I'll be getting the money to settle these accounts probably the middle of January 2014. A couple of the cards are with GE capital/amazon, one for about $1000 as of today (includes late fees), and the other is GE capital/ Walmart for about $700. I have another is a Bloomingdales for about the same amount as the amazon card. The other cards are pretty small, under $500. So I have a little over 4 months until I'll have the money to pay these accounts. My question is, how long do creditors/collection agencies usually hold on to these size debts before they sue? I'm really hoping that I can go 4 months without a lawsuit.
Thanks for any help 
I wouldnt have an answer to your question but have you tried contacting the creditors about your situation? There might be something they can do for your situation that can even perhaps save your accounts or keep them open. Im sure others will chime in...gl tho op!
You're probably safe because of the amount and the fact you only need a few months but why don't you call them to avoid action? You don't want them to charge off, sell the accounts, etc. Best to speak with them, so the accounts remain with the original creditors. That's what most will recommend. Call them asap!!
OP, you'll get more replies in "rebuilding." Are you recently late? If not, how long ago were your last payments?
Welcome to the forum. I have requested that your post be moved to our Rebuilding Forum. I'm sure you'll receive excellent advice over there. Good luck!
Thanks for your help, everyone! I know that one of the accounts (1000 amazon store card account) is with NCO Financial. Should I call amazon or NCO to work out a payment plan? The account is $200 past due, so I will try to pay it, but I'm just not sure who to contact. Thanks again
