Your debt issues previous to the coronavirus pandemic may seem surprisingly less serious if you now find yourself among the tens of millions filing for unemployment and wondering what the future holds in terms of health and money issues. While many lower-income head of households found already escalating money problems significantly worsened after the effects of shut-downs and lock-downs and losses of jobs, tens of millions who may have felt somewhat secure in their careers and financial future were forced to file for unemployment.
With consumer debt reaching historic highs again in the last quarter totaling over $14 trillion, there were some red flags being raised, with many beginning to wonder whether all the spending and lending was a good idea, and if perhaps another bubble was about to burst; however, such questions were quickly superseded by the COVID-19 pandemic.
As everything suddenly felt questionable, and panic was raised regarding health issues around the world, those pesky debt collectors and the piles of bills may have suddenly diminished—along with worries about your credit rating and further consequences.
With the US beginning to open back up slowly though, so do the phone lines for creditors and debt collection agencies, eager to see debts satisfied as they worry about their bottom lines crashing too. If you have one or more outstanding debts that are delinquent, your phone may be blowing up with calls again, your mailbox may be filling with a variety of different notices, and you may have even found yourself opening the door to a process server bearing a summons and complaint with your name on a collections lawsuit. Despite all the other issues that may be going on now though—and despite the ability to ignore other collections activities, this is legal action that you must take very seriously. Speak with an experienced collections lawsuit attorney about filing a response, as well as launching a suitable defense.
Acting quickly is critical to your future in avoiding a default judgment. While you may not think you have anything to lose currently, keep in mind that if a default judgment is granted against you, that could be active for as long as 20 years. During this time, creditors and debt collections agencies can keep attempting to garnish wages, seize property for sale at public auction, and even freeze your checking account.
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 email@example.com.