I have no money. We have had a very hard year. I cannot pay these bills. i have 2 credit cards turned over to an attorney and a hospital bill at collections. My credit is already shot, after everything that has happened this year. Everything i own has a bank lean on it. What can they do to me now?
2006-12-09 15:32:29 · 10 answers · asked by Lola H 1 in Business & Finance ➔ Credit
I am so sorry to read of your situation. It appears that your have suffered greatly. Calling creditor is not a good idea because they are brutal and do not have any consideration for your situation.
HOWEVER PLEASE DO NOT IGNORE THE SITUATION. What can happen is that judgements will be made giving creditors the ability to collect by putting a lien on anything which you own, have an interest in now or in the future.
Contact an agency that can help with contacting creditors. There are many non -profit agencies and are really helpful. You will be able to determine if there is any hope to pay these bills in a structured payment plan which is more affordable than the present agreement.
It is important to get creditors to stop calling or sending you nasty mail because it bring your moral down and takes your peace.
You need to start the day with an upbeat attitude. I imagine seeing collection letters in your mail box or dodging phone calls is horrible.
Your phone needs to be open to receive calls from family, medical professional and employer contact.
Next, and if it is not feasible to pay your debt, schedule an appointment with a bankruptcy attorney or do it yourself using a paralegal or legal aid assistance.
Obtain the bankruptcy forms, look at the them carefully and just start filling them out. You can obtain these forms at the Superior Court, on line or from a bankruptcy attorney's office or a paralegal.
Get a fresh start and do not waste time thinking about it. Just accept your situation, deal with it with honor and go forward.
You have your whole life to build a solid financial status. Know what mistakes you and your spouse made and avoid them again.
Take care of yourself and your family by getting on with this unpleasant task.
Good luck
The She Beast
2006-12-09 18:12:28 · answer #1 · answered by The She Beast 2 · 0⤊ 0⤋
They can file suit against you and get a judgment. Once they have a judgment they can file a lein on any property you may own, levy on any bank accounts and garnishee your wages until the total amount is paid in full including attorney's fees and court costs. If you are unable to pay them, then you may consider going to a credit counselor agency. Most mid to larger cities should have one. You can check in your telephone book or on the Internet. If that doesn't work, and you have no assets, you can always file bankruptcy. I don't usually recomment that to anyone. It isn't a pleasant experience. Even if you file bankruptcy, you may still need to make payments for up to 5 years. A bankruptcy will stay on your credit for up to 10 years. It might be a good idea to speak with an attorney to check your options. Everyone's circumstances are different. Good luck.
2006-12-09 15:51:58 · answer #2 · answered by Flyby 6 · 0⤊ 0⤋
If you call the attorney, and are convincing and honest about your situation, they will many times accept far less than the actual bill to close the account. Sometimes, they will drop it altogether, especially if you provide proof of your situation to them. If you do provide proof, be sure and send copies of the correspondence to the original creditor so that they can see for themselves how unlikely it is that they will collect the debt. Usually they will instruct the attorney to drop it- they don't want to spend any more than you do beating a "dead horse".
If it does go to court, what will happen is that the attorney will file for a "Asset Discovery" hearing. At the hearing, you will be placed under oath, and you will be questioned about your financial situation. If it appears that there is NO likelihood of a collection, they will drop it right then abd there. You will have to prove to the court's satisfaction that you really are broke, though, so be prepared with tax returns, copies of the liens, etc.
It sounds to me that at this point you should speak to a bankruptcy attorney right away, though!
2006-12-09 15:41:19 · answer #3 · answered by gfunk 2 · 2⤊ 0⤋
If you ignore it, then they will get a default judgment on you. They will go after anything and everything they can to collect, even garnishing your wages.
Have you called the lawyers? Sometimes they can be heartless, but if you offer them something, they may be more amicable. Explain your situation to them as honestly as you can.
It might be a good idea to contact a legal aid lawyer in your state as well. They are free to people in your situation. They can steer you in a direction or even agree to represent you. Either way, you'll get good advice and help to deal with this.
For the medical bill, contact the hospital and explain your situation to them. They might just write off the whole thing or reduce it substantially. i had one that I could only afford $15 a month on, and they took it, knowing that it would take me nearly 50 years to pay off at that rate. Every year they call to get me to bump it up, and I have if I could afford to. When it wasn't feasible, I didn't.
Hang in there - it will get better.
2006-12-09 16:47:49 · answer #4 · answered by peteybirdytonoone 1 · 0⤊ 0⤋
When attorney ***-hole calls you, tell him that you are in the process of talking to to one of those organizations that wheels & deals with your creditors to accept 20 cents on the dollar .Then tell him that if he bothers you again, you will first, call and file bankruptcy with an attorney of your own . And SECOND , tell him you are gonna call the credit card company that you owe and tell them that you are filing bankruptcy because of "THEIR" lawyer . You may just have to file bankruptcy to get out of the mess you are in. I don't think that a lein can be put on your home due to medical bills , but the other accounts that you owe on are not subject to these same rules .
2006-12-09 15:47:32 · answer #5 · answered by Anonymous · 0⤊ 0⤋
They can file a judgment against you. You should not ignore this. Things can turn around and you don't want to completely kill your credit. Take to a lawyer and ask about bankruptcy. Good luck.
2006-12-09 15:42:54 · answer #6 · answered by Crazy Cat 5 · 0⤊ 0⤋
Find assistance with a bankruptcy attorney or the county to help you start new.
2006-12-09 15:40:21 · answer #7 · answered by Anonymous · 1⤊ 0⤋
They'll file a judgment against you, it's just plain and simple. Your credit will be in shambles for some time.
2006-12-09 17:54:00 · answer #8 · answered by brian 2010 7 · 0⤊ 0⤋
you can you fail for bankruptcy obvioulsy your in the USA but if you was in UK you could do the above - and your debts would be written off but you would have no credit for a few years
2006-12-09 15:39:02 · answer #9 · answered by deb_star_82 3 · 0⤊ 0⤋
Your best bet would be to go and see "The Official Receiver" and ask if you can declair your self bankrupt
2006-12-09 15:45:58 · answer #10 · answered by Sierra One 7 · 0⤊ 0⤋