Legal Question in Credit and Debt Law in South Carolina

I live in SC. In 2007, I lost my job of 19 years. We owed 3 credit cards at the time. We had never been late on any of the accounts, and had some of the accounts for years. Shortly thereafter, all three went up on our interest rates, all within a matter of weeks. This left us unable to make minimum payments on our cards. I called and discussed this with all three banks, but they would not agree to lower our interest rate, even though we had been model customors for many years. I continued to pay what I could, but it was less than the minimum payment that shot up because of the increase in interest rate. I was told by one of the credit card reps that I was wasting my money paying small amounts as it would not really reduce the debt. So we quit paying all three cards. I realize our credit is ruined, and I can live with that; but I am worrying that they can sue us in court for the money. Can they do this in SC?

Asked on 9/02/11, 6:24 am

John Jackson Law Office of John A. Jackson, P.C.

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Yes, they can.

Answered on 9/02/11, 6:39 am

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