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Collections Lawsuits: Don’t Blindly Accept Liability

pile of past due bills

Debt can accumulate so quickly that you may find yourself overwhelmed and stressed to the point that there does not seem like any way out. Whether you are embroiled in credit card debt, mortgage debt, a car about to be repossessed or utilities about to be cut off—or all the above—it is critical to seek help immediately from a debt protection attorney who is skilled in handling these matters and has your best interest in mind.

Credit card companies may be quick to sue you, or you may find yourself being served a summons and complaint on behalf of a debt collections agency that bought your account (and perhaps many others in volume too) after it was charged off by the creditor. Your first inclination with such papers may be to throw them on the pile with all the other bills in disgust—and worry—and plan to deal with it later; however, not only you should you be calling a lawyer, but you should also be paying close attention to what those documents say.

Debt collections agencies especially are infamous for being extremely disorganized. They may have little information about your account, and this can be an important factor in winning, or seeing the case dismissed quickly, as they may not even be able to prove they have the standing to sue you at all! In terms of monetary figures being bandied about, however, do not blindly accept liability. Even if you know you owe a debt, and you think you may owe the full amount listed, be extremely cautious before admitting any liability, and allow your attorney to review everything and advise you as to how to proceed.

Creditors and debt collectors will often add fees and escalated interest charges that can make it difficult to know what you really owe. If you admit you are liable from the start, you are admitting full responsibility and may have a difficult time settling for a lower amount in court. Take time, with the help of your attorney, to gather more information and perhaps even issue a response stating that you are not aware of the debt.

Along with filing a response, your attorney may ask for a copy of a full amount statement. Not only may this cause the plaintiff to back off, if they do come through with any documentation, you will need it for your records if there is the true potential for going to court. And again, check all the facts—including the statute of limitations on the 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.

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