Although registration of arbitration awards as judgments seems to have ended in North Carolina there are many questions surrounding credit card debt explored herein including debt defense and debt settlement.
Can I be sued for credit card debt in NC?
Yes- Credit cards are legally allowed to sue when the borrower is in default. For some reason many people think all creditors can do is put a negative mark on a borrower’s credit report. The bottom line is this- If banks could not sue for credit card debt they would stop issuing cards. Some of the main law firms that represent banks and debt buyers for credit cards lawsuits in North Carolina are listed below. These law firms generally represent the plaintiffs listed and do not actually own the debt.
The impact of this change in the tax code regarding spousal support is national (not just North Carolina) and will effectively make divorce more expensive for many who rely on spousal support to maintain their standard of living. As the tax change of alimony applies to Court orders and separation agreements signed after December 31, 2018 those in the middle of divorce right now have just under a year to finalize any deal under the old/current law.
Even though a creditor such as Bank of America or Wells Fargo may only be able to sue the cardholder a North Carolina family court judge can order the other spouse to make payments or account for that debt in the dividing the marital estate via property division otherwise known as equitable distribution. Equitable does not always mean equal, but judges usually try and divide marital assets 50/50 to the extent possible absent a compelling reason for an unequal distribution.
As part of the same initiative, House Bill 280, which goes into effect on December, 1 2019, raises the minimum age to be charged as an adult to age 18 for most non-violent offenses. North Carolina is one of the last holdouts that currently charges 16 year old children as adults for any and all criminal offenses.
New Expunction law changes in NC effective December 2017
Many States like North Carolina do not typically include Social Security numbers or birth date information as part of the public record for civil judgments. As judgments in NC are good for ten (10) years and can be renewed for an additional 10 year period this is significant news. Removal of judgment reporting means some consumers may experience a boost to their credit score in the coming month as negative items are removed from their credit report. As fixing credit report errors is often a nightmare for consumers this is a welcome change to the bureaucracy of the credit reporting industry. The Wall Street Journal is estimating this change will improve the credit score of some 12 million individuals in the United States. The expected increase is a modest 20- 40 points.