Creditor Intimidation: Do Not Let Them Get the Best of You!

woman at desk with head in hands

After struggling with debt for months or possibly years, you have probably experienced many sleepless nights—along with stress and even embarrassment or shame over your finances and all the calls from creditors. While household debt continues to reach new highs, with recent news stating that the first quarter of 2018 showed cumulative totals at $13.2 trillion—and a $63 billion increase from the quarter before. Mortgage debt makes up the largest part of household debt, but student loans and credit cards don’t trail too far behind.

Many consumers are able to make their minimum payments each month or even pay off credit-card balances as they arise; however, as so many others fight to survive amidst an ever-growing cost of living, paying the essential bills can be difficult enough. Without sufficient raises many consumers struggle to make enough income to pay for housing, groceries, gas, and other necessary items like prescriptions.

Credit cards may come into much heavier use too when required as an additional source of income to get through time times. You may understand this all too well if you have been ill or injured and were (or are) unable to work—not only feeling under the weather but also stressed about bills and employment. Divorce or other family issues may have had a serious impact on your finances, accompanied by the ever-present student loans that must be paid too. If delinquencies have continued to the point of defaulting on loans and credit card accounts, you may find yourself in danger of foreclosure, auto repossession, and collections lawsuits from creditors.

The best thing to do after you receive lawsuit documents from the process server? Contact a skilled collections lawsuit attorney from a firm like Fitzgerald & Campbell, APLC. You may be tempted to go it alone but formulating a thorough reply to the lawsuit is very difficult unless you have extensive legal experience. Don’t be like the majority of defendants who just do nothing, feeling unsure about what to do, intimidated by the threat of a lawsuit and the court system itself. A lack of response can lead to much worse consequences!

In responding to the creditor, your attorney can also request that the creditor fulfill their responsibilities in proving that they have standing to sue you to begin with as owners of the account, providing the proper documentation. Along with that, your attorney may also request that they show paperwork for the account harkening back to your original agreement. If you are dealing with a debt collections agency, they may not be able to satisfy any of these requests, with the case being dismissed. And even if their case against you does seem strong, they will probably still be open to negotiating a discounted pay-off, to be satisfied in a lump sum or a monthly schedule.

Ignoring the lawsuit means that the likelihood of a judgment being granted against you is good. Unless you are judgment proof, with no income, possessions, or accounts that can be seized or frozen, a judgment can mean wage garnishment, and loss of access to financial accounts. Local law enforcement may also show up at your door to seize valuable property and sell it off at auction to satisfy your debt.

Speak with an attorney from Fitzgerald & Campbell, APLC as soon as possible to examine your options. Our attorneys have decades of experience in serving clients as they navigate through challenging financial situations, to include student loan issues, bankruptcy, and other debt management processes. We are here to help! Click here to schedule a free 30-minute consultation, call us at (844) 431-3851, or email us at info@debtorprotectors.com.

Categories: 
Related Posts
  • Auto Debt is a Major Concern for Many Consumers after COVID Read More
  • Auto Repossessions Rising After COVID-19 Read More
  • Auto Loan Delinquencies & Collections Lawsuits Increasing Against Millennials Read More
/