My question involves collection proceedings in the State of: New Jersey
Recently I recieved a certified letter from the superior court of my county saying that i am being sued by a debt collector for $4,000 for an unpaid credit card debt from a few years ago. a few days later, I recieved a letter from the collections company stating that they would allow me to pay off 25% of my debt and make payment arrangements for the remainder, or pay $160 per month until the debt is satified. unfortunately the first option is impossible, and the second will be very hard to do. I've broken down my options into two
1. do not pay the debt as i have no money, hide all valuable items at another house, and allow the lawsuit to go through. (can the collections agency take a financed car as payment if you have a cosigner?) is there anything that the court can do to MAKE me pay?
2. I've been planning to move to the state of Connecticut for unrelated reasons. if the judgement goes through in NJ can it travel to CT?
can anyone tell me what I should do in this situation?
Any help would be greatly appreciated !!!