IF I am homeless, on general assistance and food stamps, BUT have a legal claim to monetary compensation in a lawsuit (value not yet determined / no settlement agreement)?
2006-12-17 09:52:18 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
There are some very diffrent answers in here. What ever you do dont settle for a buck a month, it starts you statue of limitations.
How old is this debt/how much. If it is lets say 6 years old dont worry at all it is out of the states statue of limitation, they cannot touch you. They do research to see if you are worth while in filing a suit, seeing that your are homeless they will not bother it cost lots of money for them to bring a suit against some on. If you winnings in your suit is substantional and you then buy assets at a later date they will research this out and possible then file a lawsuit but unlikley.
2006-12-17 11:59:20 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If the collection agent knows you may be falling into some money, it's likely they will sue you.
This of course depends on how much you owe and where the collection agent is.
Generally they will not mess with suits less then $500, and will most likely go after $2000. And if the collection agent has an office located near you, that's also going to increase the chances.
If they don't know about your other lawsuit...send them a letter and outline your current situation. Tell them you are "judgment proof" and if they sue you there is little chance they will get anything. Then make an offer for a settlement of far less then you owe, and set payments at what you can afford. Get it all in writing.
2006-12-17 12:09:48 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It would be difficult for the agency to collect anything, considering your current situation. In addition, there is no guarantee that you will win your lawsuit and even if you did, any monetary settlement may be a long time coming.
As I see it you have two options: First, you could declare bankruptcy and walk away from your obligations, or in the alternative, negotiate with the party to whom you are indebted to stop interest accrual in return for "good faith" payments in an amount you can afford, (a minimum of $1.00/ month), with the understanding that you will pay off the debt if and when you receive a "substantial" cash settlement.
2006-12-17 10:23:31 · answer #3 · answered by PALADIN 4 · 0⤊ 0⤋
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2016-11-30 21:39:30 · answer #4 · answered by ? 4 · 0⤊ 0⤋
It depends on the amount you are talking about, If it is worth their while it increases the odds of them coming after you, it is unlikely they will sue you if you are homeless as homeless folk are hard to find for collection agencies as such they are hard to serve
2006-12-17 10:24:47 · answer #5 · answered by Jerry 3 · 0⤊ 0⤋
Not only very extremely likely but guranteed if you come up with a settlement and they know it. See oneof the gubby lawyers and they will guid you thought keeping part of your money. (they'll keep the othe rpart.)>
2006-12-17 09:56:59 · answer #6 · answered by Anonymous · 1⤊ 0⤋
How will they find out?
2006-12-17 10:09:42 · answer #7 · answered by Anonymous · 0⤊ 0⤋