If you're dealing with calls and letters from debt collectors, it's important to know how likely they are to file a lawsuit over your unpaid balance. William_Potter/Getty Images

In the current economic environment, where Americans owe a record $1.21 trillion in credit card debt and credit card rates are sitting at record highs, a lot of borrowers have found themselves facing collection calls and potential lawsuits over their unpaid debt. And, as more accounts fall into serious delinquency due to inflation and other economic issues putting stress on people's finances, even more are at risk. But while debt-related lawsuits are among the most common civil cases in the U.S., they can still have long-lasting effects on your finances.

So, if you've fallen behind on credit card

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