Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
rolenz28

0 Contributions
0 People Helped
I am being sued by a debt collector for a $4k debt. What will happen if I lose?
The debt is from at least 3 years ago, maybe more. I have no assets, I rent my home and I have a 13 year old car.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
7816 Contributions
1477 People Helped

Did you check the Statute of Limitations to be sued for debt in your state? I would check that first and see if that can be your defense. Are you sure that you are actually being sued or if it is just a scare tactic used by the collector trying to scare you into paying? It is very common for debt collectors to claim to be suing in order to scare people into paying and that is also a violation of the FDCPA (fair debt collection practices act). I would advise doing some thorough reading on how to deal with debt collectors, then you will be able to understand how they sometimes work. If you truly are being sued, make sure that you go to court, even if the debt is outside of the statute of limitations as in most cases you will lose if you do not appear. You can contact the courthouse to see if they actually have a case against you. If you find out that they are not really taking you to court, then contact a consumer law attorney that deals with FDCPA violations and sue the debt collector.

______________________________________________________________________________________________________________________

As for your question, if they do take you to court and you lose, then a judge will decide what to do. Your wages could be garnished or bank accounts seized in a worst case scenario and it will depend on state laws as well as to how many avenues they have to recover the money from you.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.