DiBu asked:
we are have received a summons to appear in court for credit card debt. this debt is valid, however, we do not have the financial means to pay it at this time. my question what happens when we go to court and can we still negotiate a payment plan with the bank’s attorney?
http://1mortgagecalculator.info
we are have received a summons to appear in court for credit card debt. this debt is valid, however, we do not have the financial means to pay it at this time. my question what happens when we go to court and can we still negotiate a payment plan with the bank’s attorney?
http://1mortgagecalculator.info
Yes, the court will issue a judgment against you for the debt and expect that you can work it out with the creditor. Just be advised, if t hey are going this route, I would expect the creditor to continue to use every avenue and that means that if you do not adhere to the payment schedule you set up, the next step is to return to court, show you are not paying and ask for a wage garnishment.
the court will take into account how much money you make and what other bills you have to pay along with making sure you have enough to support any children involved. You can tell the judge how much you can afford a month some judges will let you pay that a month some will just tell you how much you can afford based on your monthly income and expenses. They will either work with you or garnish your paycheck. good luck
Yes – there is still time to negotiate a payment plan. Contact the credit card company prepared with an amount you could afford to pay monthly. They will then sign an agreement with you for that payment plan and you can avoid the courts.
Good luck!!!
Yes! You should call that attorney right now and see if they will work something out with you. We have so many people who don’t respond to these things and get a big whopping judgment against them including their past due balance, charges, atty fees, court costs, etc. Then we have some who walk in the courtroom and work something out with the attorney. They make a payment arrangement, abide by it and eventually restore their credit. Never ever ignore a summons like this – it will always be worse for you if you do.
Don’t contact the credit card company though. At the point where you’ve received a summons they have already referred your account to a collection agency and an attorney is handling it. Basically, they have washed their hands of it. They won’t be looking to help you out, only to get their money. You should call the attorney who served you. He will be the middle man to negotiate the deal with you and the creditor. Not all will budge, and in order to negotiate a payment plan as you mentioned you must have the financial means to carry out that plan.
When you go to court you should be able to set up a payment plan. It will have to be an amount acceptable to the bank. Once you have it, don’t miss or be late with another payment because if you are they can ask for the full amount. If you don’t have it they can sheriff sale your belongings to satisfy the loan