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I just got hit by a lawsuit from old CC company
Asked Dec 28, 2005, 01:05 PM
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15 Answers Hi everyone .. I am seeing if anyone can give me some opinion on how to handle a law suit that I just receive from an old credit card company I owe money to. On the paper it says I just got summon from a law office but at the bottom of the paper it says this is a communication from a collection agency. Well the sheriff who gave me the paper said that I should go to court and file to the clerk within 30 days of today. So I am planning to go tomorrow to file. Now I'm not denying that I don't owe them money cause I do I had stop paying them like 4-5 yrs ago cause I didn't have a job anymore and I still don't have a job and I just don't have the money to pay and my husband barely makes anything we live paycheck to paycheck and we have 3 little ones to support. That's what cause me not to have a job we just can't afford daycare. But when I go file tomorrow I was going to put that I don't have a job and that we are low income family. I can't afford to do bankruptcy when I don't even have the money for attorney fees either. Now the paper says I have 10days to pay in full which is $1013.00 and a couple of cent if not judgement will be against me and I would have to pay interest of $433.00 and something about 12% more until paid and another $130 of attorney fees and court fees.  . Also what I'm worryed about is them taking money from my checking account I heard that they can do that, can they even if I have a joint account? But I am planning to take my name out so scared that they will take money out and then I we don't have money for house and stuff, and I'm like sitting here crying cause I don't know what to do I have 2 more other credit cards company that probably going to catch up to me one day like this one and my car was repo 2 years ago and there still demanding $9800.00. Now on the paper has no court date but when the time comes what should I tell the judge. I'm so lost, if anyone that has going to through what I am going through now able to give me any advice I would really be greatly appreciated thanks so muchKim |
15 Answers
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Yes, you should remove your name from the checking account. They can garnish (take away) any of your assets to pay for your debts. How to avoid having to pay? By making sure you have no assets. Do you own a home? They might simply place a lien on it. | ||||
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If they can come after you on that, they will. Perhaps you should consider getting a part time job from home? You say you have to be home for your kids, so why not work part time from home? | ||||
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| Not Kosher? The whole thing looks a bit suspicious to me. The paper that you received was not? A court summons, just a communication from a collection agency. Maybe the Sherriff was just trying to make a buck by acting as an intimidating delivery man. Usually, credit card companies will not waste their resources sueing someone for $1500, who may also be uncollectable. They will charge off the debt and sell it to a collection agency for pennies on the dollar. I believe that most bad debts have a finite shelf life. Some weird quirks in the law have the effect of extending this shelf life if the debtor does certain things, such as acknowledging to the collection agency that the debt is their's. There was a great article on the msn.com homepage by their financial lady a couple of months ago detailing these pitfalls. If you are in no position to pay the debt, and the letter you got was not a summons, my advice would be to ignore the collection agency. | ||||
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| Flash I just found the article that I referred to in my previous post. It was written by Liz Pulliam Weston (one sharp lady).Title is: Zombie Debt Collectors Dig Up Your Old Mistakes. The link should be: http://moneycentral.com/contents/Sav...ebt/P74812.asp I just hope I didn't make a typo. This thing just cut the middle out of the link. Aren't we allowed to post links? The part between contents/ and /P74812 is: Savinganddebt/Managedebt | ||||
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Dr D..yes on the paper says I was summon I the defendant..The company that sueing me is Cornerstone Financial Corp. I guess they hired a lawyer..my original Credit card was from Best Buy and they sold my account to Cornerstone. Thanks for all the advice | ||||
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| One example would be telemarketing from home. I did a google search and I came up with this website: http://www.databasesystemscorp.com/p...ng-at-home.htm | ||||
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| You really need to let us know what state you are in, the SOL may be up on this debt which would give you a positive defense to have the lawsuit dismissed. YOu can use this site to find the SOL for them to sue you on a debt in your state: http://www.carreonandassociates.com/...m#Pennsylvania | ||||
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