QUESTION
What can happen if I don't pay the debt collector?
Asked on Aug 20th, 2012 on Bankruptcy - Mississippi
More details to this question:
A debt collector contacted me because last year I turned my car in to my creditor because I could not afford my payments since I had stopped working. The creditor auctioned the car and it was only sold for $3,000 so I still have a balance of $6,000. I am currently not working. My husband and I do not have any money at all to pay the debt collector. What can happen to me? They were going to contact the creditor and tell them I refused to make a payment when I just told them if they can wait for two months because I have no money right now. What can happen after that I am scared?
7 ANSWERS
Bankruptcy Attorney serving Phoenix, AZ
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Law Office of D. L. Drain, P.A.
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Unfortunately, the creditor or debt collector has a right to be paid the amount that is owed. Can you make payment arrangements? If not, you might consider looking into bankruptcy. Please understand that bankruptcy is a very complicated process. It is wise to talk to an experienced bankruptcy attorney before deciding to take this important step.
Answered on Aug 23rd, 2012 at 2:37 PM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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They are attempting to collect the debt and can sue you, and after a judgment take collection actions against you.
Answered on Aug 23rd, 2012 at 2:37 PM
Litigation Attorney serving Westland, MI
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Clos, Russell & Wirth, P.C.
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If you do not voluntarily pay, their only option is to file a collection lawsuit against you.
Answered on Aug 23rd, 2012 at 2:26 PM
Dennis P. Mikko
The creditor can file suit against you to collect the unpaid debt. If the matter resulted in a judgment against you, the creditor could take other collection action such as garnish your wages, garnish your bank account, etc. However, once a judgment is entered, you could ask the court for an installment payment order and the court would decide how much you would have to pay each month.
Answered on Aug 23rd, 2012 at 1:52 PM
They could sue you for the debt, and if they are successful they could garnish your wages or force you to sell your property at auction. Contact someone in your area who does debt defense work.
Answered on Aug 23rd, 2012 at 1:52 PM
Construction Attorney serving Bloomfield Hills, MI
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Law Offices of Jeffrey Z. Dworin
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The most the creditor/collection agency can do is sue on the debt. If they do so you can probably work out a settlement for less money and time payments. If you cannot work out a settlement, and the creditor obtains a judgment, you can move for an installment order that lets you pay monthly according to your means.
Answered on Aug 23rd, 2012 at 1:51 PM
Chapter 7 Bankruptcy Attorney serving Clinton, MS
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Timothy Kevin Byrne Attorney at Law
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You can file chapter 7 bankruptcy and discharge the debt.
Answered on Aug 23rd, 2012 at 1:51 PM