Facing Legal Proceeding Due to Debts? Some Useful Guidelines
The unexpected economy crisis has caused many citizens in United Stated in deep debts.
When we are facing financial difficulties, we can't blame the bad economy situation and make this as an excuse for not paying back the debt.
There is no way for us to escape except negotiating for debt settlement.
If we insist not to pay our debt, we have to be prepared to face legal proceedings.
In any case when you have a secured debt more than USD 5,000, your creditor has the right to sue you by filing lawsuit in the court.
What should you do when you are being sued for debt by the aggressive creditor? Below are some points for kind reference.
o Make sure you treat the suit seriously When you receive a court summon, do not ignore it and you must take it seriously.
Make sure you respond to it.
If you are not sure about how to respond, consult a reliable lawyer for professional advice and guidance.
Bear in mind that if you fail to respond to the suit within a certain period of time, there is a high possibility that you will lose the case automatically.
Your creditor will then get a default judgment against you and you may face the risk that your property or bank accounts will be taken away.
As a result, spending some time and effort defending your suit is indeed important in order to protect your financial situation in the future.
o Try to negotiate for debt settlement It is suggested that you may try to negotiate for settlement even after the suit is filed in court.
First of all, you are advised to respond to the suit in writing to show your sincerity to settle the debt.
Then you should contact the lawyer hired by your creditor to negotiate for settlement.
You can propose to them on repayment scheme which suit your current financial situation.
Both parties can actually work out the best way to settle the dispute in a win-win situation.
Through this way, you may even save some cost on paying high interest to the creditor.
When you are facing legal proceedings due to debt, never try your luck by ignoring the lawsuit.
The court will not cancel the case just because you are the "Victim" of the financial crisis.
Face your problem with courage and positive attitude.
You are able to overcome it! The objective of the creditors is simple too.
They just want their money back.
They also don't want to create more troubles for you.
When we are facing financial difficulties, we can't blame the bad economy situation and make this as an excuse for not paying back the debt.
There is no way for us to escape except negotiating for debt settlement.
If we insist not to pay our debt, we have to be prepared to face legal proceedings.
In any case when you have a secured debt more than USD 5,000, your creditor has the right to sue you by filing lawsuit in the court.
What should you do when you are being sued for debt by the aggressive creditor? Below are some points for kind reference.
o Make sure you treat the suit seriously When you receive a court summon, do not ignore it and you must take it seriously.
Make sure you respond to it.
If you are not sure about how to respond, consult a reliable lawyer for professional advice and guidance.
Bear in mind that if you fail to respond to the suit within a certain period of time, there is a high possibility that you will lose the case automatically.
Your creditor will then get a default judgment against you and you may face the risk that your property or bank accounts will be taken away.
As a result, spending some time and effort defending your suit is indeed important in order to protect your financial situation in the future.
o Try to negotiate for debt settlement It is suggested that you may try to negotiate for settlement even after the suit is filed in court.
First of all, you are advised to respond to the suit in writing to show your sincerity to settle the debt.
Then you should contact the lawyer hired by your creditor to negotiate for settlement.
You can propose to them on repayment scheme which suit your current financial situation.
Both parties can actually work out the best way to settle the dispute in a win-win situation.
Through this way, you may even save some cost on paying high interest to the creditor.
When you are facing legal proceedings due to debt, never try your luck by ignoring the lawsuit.
The court will not cancel the case just because you are the "Victim" of the financial crisis.
Face your problem with courage and positive attitude.
You are able to overcome it! The objective of the creditors is simple too.
They just want their money back.
They also don't want to create more troubles for you.
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