have you been sued by your creditor?
If you have fallen behind your credit cards or other debts, you have probably started to receive non-stop calls from your debt collectors. Sometimes, you are being contacted by the original creditor. However, once the original creditor decides they are no longer able to collect on the debt, they often write off the debt and stop collection efforts. You may notice this on your credit report as a debt that has been "charged off".
Having a debt charged off does not mean you no longer owe the debt. The original creditor generally sells off this debt to a third party debt collector. In this situation, a new creditor begins contacting you to collect the debt. This new creditor may even bring a lawsuit against you for the same charged off debt.
We often see common debt collectors contacting our clients and filing debt related lawsuits in an attempt to collect. If you have been sued by a debt collector and are unsure who it is, or what they are attempting to collect, contact us today to review the petition and explain the process. If you fail to properly respond to the lawsuit, the creditor may obtain a Default Judgment which opens up additional options for the creditor to collect the debt.
Once a Judgment has been granted, the creditor may file an Abstract of Judgment in the property records which will cloud the title on your house making it difficult to sell or refinance in the future. The creditor may also be able to seize or garnish your non-exempt property, which often times includes the garnishment of your bank account.
Before the creditor is able to receive a Judgment against you, contact us today to review your situation and represent you in the lawsuit. Once retained, we will ensure a proper response is filed, preventing the Default Judgment. We will also be able to assert all available defenses and ensure the creditors claims are valid. During the lawsuit process, we are also able to work with the creditor to settle the dispute and protect your assets.
For more information on the common creditors, please see below. If you have more questions or would like us to review your situation, contact us today for a free initial consultation.