I have alot of debt in collections, they say their going to file a lawsuit, havent yet, has anyone been taken to court by collection agency? if so how much did you owe?what happened?
2006-12-14 09:27:14 · 4 answers · asked by paula_5150 3 in Business & Finance ➔ Credit
try changing your address and your phone number. If they can't reach you, they can not officially serve you (so I've been told).
Another try would be to call them and negotiate your debt. If you owe $3K, ask them if you can pay $2K instead with regular monthly payments.
Of course, I would alwyas think it best to file bankruptcy because you're credit is already going to be shot at this point, and at least this way, you can save yourself the stress and anguish associated with everything else you just mentioned.
2006-12-14 12:50:35 · answer #1 · answered by Jax 4 · 0⤊ 1⤋
If you owe enough to make it worth their time ($500 minimum)and if you have attachable assets (wages, property, bank accounts), yes they will sue you. They are normally hoping for a default judgment upon which they can execute to attach wages, file liens etc. They will also include court costs, attorney fees etc. if the judge allows it.
2006-12-14 20:15:23 · answer #2 · answered by Scott C 2 · 0⤊ 0⤋
It really depends on what the collector wants to do.
If they sue you and win, 9 out of 10 judgments go unpaid.
Read this article on judgments: http://www.expert-credit-advice.com/learn_about_judgements.htm
2006-12-14 22:43:20 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Yes I been sue, I had 3000 in debt, they will take it from your paycheck. If u work u have to pay them
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2006-12-14 21:06:58 · answer #4 · answered by bijan816 2 · 0⤊ 1⤋