Pay Your Debt After Being Sued By Your Creditors:

CONSUMER CHOICE 3

Pay Your Debt After Being Sued By Your Creditors:

If our creditors legal departments are not successful on collecting the debt, they may file for a lawsuit. In some cases, the credit card companies may sell your debt to a debt vendor or debt attorney for pennies on a dollar, which at that point, the collection company will try to collect the outstanding debt plus their fees or file a lawsuit against you. If at any point you receive a summons, and if you did not respond to the summons within the specified time frame, the creditor will be issued a Default Judgment. The Default Judgment will give the creditor the right to file for a wage garnishment, levy cardholders bank accounts or put a lien against their property.

The fees added to a summons include:

• Entire amount of debt, Plus
  • Attorney court costs
  • Interest for entire time debt amount owed which includes the time after the cardholder stopped making payments
  • Late fees
• Creditor will be able to also to take your wages directly from your paycheck by serving your employer with a court order to do so
• Creditor will be able to put a creditor’s lien against your home for entire amount of your debt which will prevent you from selling your house until entire debt is satisfied and paid in full
• Creditor can directly take money from your personal bank account by filing a levy with your banking institution
• Creditor can put a lien against any other assets you may own