Credit Card Debt Judgement

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hopeful16

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I just received a summons for a credit card debt. Probably the first of many to come. I am concerned on what to say in my response to the court. want to be completely honest with them but afraid that giving all info may some how be used to harm me instead of help. If I lose the case and have it levied against me can they lien my home which has a mortgage.

My bank has agreed to a Fast track short sale which balance completely forgiven. I do not want to affect that sale. That is one debt taken care of then I can focus on the other debts. I do not want to file bankruptcy I want to honor my debts.

Thanks for any advice anyone can give me I have 20 days to respond to the court.

Hopeful16
 
One piece of advice is to give only the basic info. DON'T volunteer anything they don't ask for. Otherwise just be honest. As for the lien on the house, it's possible. What will happen is if the bank wins they will have a judgment against you, but it's up to them to then enforce that judgement. So it would be up to them to attach a lien on the house.
 
now I have to respond to the court with myside so that could sway the court and would they put stipulations on them as to what they can do. I am not denying the debt and am not refusing to pay right now I can barely eat so for me to even give them $5.00 a month is pushing it but I can do it. Can the court approve of that to satisfy the judgement?

I need to spill it all to the court so they can really see the hardship I am under.
 
now I have to respond to the court with myside so that could sway the court and would they put stipulations on them as to what they can do. I am not denying the debt and am not refusing to pay right now I can barely eat so for me to even give them $5.00 a month is pushing it but I can do it. Can the court approve of that to satisfy the judgement?

I need to spill it all to the court so they can really see the hardship I am under.



Your need to "spill it all" will only serve to destroy you.

You should only "spill it all and bare your soul" to your holy priestess, holy man, magic bush, beloved tree stump, or whatever you hold dear and holy!

That is not a judge, a courtroom, or a creditor.

If a suit has been filed against you, your best legal strategy is to deny "each and every one of plaintiff's allegations".

The crook that is stalking your bank account isn't the one that you may have once been indentured!

A bottom feeding, scum sucking, parasitic, blood sucker is the one that is pursuing you today!

This crooked entity bought old paper for 2-3 cents on a dollar.

Now they have added fees and interest to a debt that you never owed them.

The original creditor has long since written off the debt and taken a HUGE tax deduction in order to reduce paying their tax assessments!

The only one that will get financially raped in this whole, sordid, salacious, financial molestation will be YOU!

DENY, DENY, DENY, and make them produce the original note and all other originating loan or credit documents.

They can't, because they never had them.

The original creditor can't sell that.

Besides, they've long ago been destroyed or lost.

My simple advice, don't pay.

It won't help rebuild your credit, because long after these creatures have bene financially satiated, they'll continue to ruin your credit.
 
OK, listen up and listen good. If they win the case they do not have to agree to any terms. They can demand to have payment in full, and if you don't pay up then they can go ahead and place a lien on things. One question you need to answer here is how old is this debt? That is a very important question.

Here's what you need to understand. Let's say you had a card with Chase bank. You failed to pay on that card and it went to default. What happens is Chase will sell your account to some collections agency for a fraction of what you owe, then write off the difference come tax time. If they do collect on the debt, then anything over what they paid for it is profit. So if you owed $5,000, and they bought the debt for $1,000, they just made a $4,000 profit. If that agency is not able to collect they will sell it for a fraction of what they bought it for. Now fast forward down the a road say 8-10 years. By this time the debt is no longer valid because of the statute of limitations. But most people don't know this. So by this time some low life collections agency will have bought that debt for say $500 or maybe even $50. But they are going to ask for the full amount.

And I did miss this point in the beginning - is this actually the bank suing you or some other collections agency? If you can't afford $5 a month to pay them, then you need to pay attention to what you are being told here.
 
Thank you for all your replies they are very helpful. I havent been able to pay the cards for about 1yr and a few months. this particular one with the summons doesn't seem to have been sold to a collection agency but is the bank it self, but I will double check that. I have had this card since I was 18 and now I am 40. Have paid this card off many times prior to this. I can pay $5.00 a month but they said that is an insult to them.

I have to make a response to the court and I'm not sure what to say.
 
Just make sure that any response you send it directly to the court, and that the papers sent to you are actually from the court itself.
 
Unfortunately you won't be able to use the statute of limitations to your advantage.
I suggest you determine what the average interest accrual per month is and add about thirty dollars to that amount and make an offer for payment. So long as the amount is going down they should agree.

If you don't have the money then you just don't have it... but sometimes you just need to learn to budget better and cut some corners to make the money available. Good luck.
 
Thank you for you help. I do not have anything to budget. I was self employed and the last project I had the fdic took over the bank that was funding it so the monies owned to me disappeared over night and then we got some surprisingly and that is what I have been able to live off of and that is running out. For 2 people we are eating off of $15 a week. So we are going to move to get work and lower cost of living getting rid of the home and then all funds that we get will be rent and pay the deliquent cards we are not running or filing bankruptcy we are simplifying to the minimum and honoring our responsibilities.
 
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