I received a summons to appear in pre-trail court due to $5,000 of credit card debt. I own this debt. I have a large sum of credit card debt and am considering bankruptcy. How can I avoid a trail and possible judgment? I thought about offering the company $1,000 to settle debt.

ScottGem

You really think they will settle for 20%? Doesn't hurt to try, but I wouldn't count on it.

If you are going to file for bankruptcy, now is probably the time to do it.

Fr_Chuck

You need to show up and have a plan in place to start making payments to them. I also doubt that they will accept only 20 percent, but how much of that 5000 was fees and interest and how much was actual payments out. They will want at least the amount they paid out and a reasonable interest. 1/2 would be most likely a closer figure.

And often they may take the risk of you filing bankruptcy esp now since it is harder to do with the newer laws in place. So they can normally get a judgement and attach your bank accounts and get a garnishment to get some money before you ever get the bankruptcy filed.

So they will most likely already know about how much your bank account balances are, and what you make at your job.
So they will bet on about how much they can get before your filing can go into place

mr.yet

Try to settle with them, but when you go to court, demand to see the original contract. This is important, if they dont have the contract with them, there is no contract, "NO CONTRACT . NO CASE."
I hav seen any people who when to court and never ask to see if the had the original contract, court just order judgment for them without proof.

Demand you rights. produce the contract.

posheak

Im sorry to hear that dearie
You can try to offer them anything to settle the debt but knowing these companies, they will not settle for less easily. If you are considering bankrupcy let them know that this is going to be the next step and maybe they will go for the grand.

Hope this helps somehow

Andre Foux

Thank for the information. Now I've gotten the company's lawyer to agree on a 75% settlement figure. But still told that my credit report will still show me owing the balance and I will still have to go to court. I thought a settlement made the debt go away...someone please explain.

ScottGem

Once you pay the agreed upon amount the credit report should show the debt paid but a settled amount.