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    reyhi1's Avatar
    reyhi1 Posts: 1, Reputation: 1
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    #1

    May 8, 2007, 03:15 PM
    Summon, Old Credit Card Debts, Need Info
    Hope someone can help.
    I received a summons from Attorney. Apparently my credit card debts were bought by collection agency who has sent me a summons that I have not responded to. My house is has been sold and is pending settlement. The original summons was for approximately $25,000. When a lien search was done by the mortgage company, I was advised settlement payoff is approximately $50,000. I have contacted an attorney to get advise, but need some generally information. I had intended on contacting existing chargeoff/debt and settle on this when my home was sold. Originally, I thought credit card debts were unsecured. How can a lien be placed on my home? What do I do? I am willing to settle but not for $50,0000. Once my home is sold, I would only get approximately $20,000 left after paying the mortgage and this outstanding summons/debt? Any advise is appreciated. Please respond soon, as settlement on my home may be this Friday, May 11, 2006. My initial consultation w/the attorney is on Thursday, 5/10. Thank you
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    May 11, 2007, 12:48 PM
    You have already seen the attorney by now. It is likely that the collection agency went to court and got a judgement against you. If so, then the debt is valid.

    You need to contact the credit agency and make a deal.
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