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When Can You Get an Adjournment of a Collection Case

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  • 06-05-2017, 11:35 AM
    tomnboo
    When Can You Get an Adjournment of a Collection Case
    My question involves collection proceedings in the State of: NJ

    I was curious to find out how much notice you have to give a non jury trial to get an adjournment. The case involves a defaulted loan from a credit union. We need time to explore options such as bankruptcy. In order to file for bankruptcy, you need to go through credit counseling which is, I believe, at least six months.

    How long an adjournment can you get? I think we'd be looking at over a year to get this situated. And, if it turns out you can't or aren't eligible to file for bankruptcy, can you be held liable for ongoing interest on the account?

    And, if you go to the hearing and they want to collect (either through garnishment of wages or a payment plan), is there a way to only pay the original amount that was owed and get rid of all the interest and penalties?

    Thanks for any help
  • 06-05-2017, 11:50 AM
    free9man
    Re: Filing for an Adjournment
    Quote:

    Quoting tomnboo
    View Post
    And, if it turns out you can't or aren't eligible to file for bankruptcy, can you be held liable for ongoing interest on the account?

    Why wouldn't you be?

    Quote:

    Quoting tomnboo
    View Post
    And, if you go to the hearing and they want to collect (either through garnishment of wages or a payment plan), is there a way to only pay the original amount that was owed and get rid of all the interest and penalties?

    You can try negotiating but once it goes to trial and they get a judgment, you will be in a weak bargaining position. Have you tried negotiating a settlement with the creditor?

    How much do you owe? Bankruptcy may not be the best path if it isn't that much.
  • 06-05-2017, 03:24 PM
    tomnboo
    Re: Filing for an Adjournment
    This debt is in addition to a lot of credit card debt...There is really no property in danger (aside from a car that really isn't worth that much)...it all started with going out on disability for a couple weeks due to a bad reaction to a new drug for Lupus. The debts just accumulated from there...with all the interest and penalties, they have become virtually impossible to pay. Bankruptcy seems to be the only way to get out from under all the debt.
  • 06-06-2017, 06:18 AM
    Mr. Knowitall
    Re: How to File for an Adjournment of a Collection Case
    If you want to explore bankruptcy, consult a bankruptcy lawyer. You can do that within the space of a few days. The required counseling session takes sixty to ninety minutes, and the certificate must be filed no later than 15 days after your bankruptcy filing date, so... it's not an issue. If you prefer to file Chapter 13, your bankruptcy lawyer can advise you as to what percentate of your debt you are likely to be ordered to repay as part of your plan.

    You are not going to put the case on hold for months, just because you prefer not to have justice take its course. That's not why adjournments are granted.
  • 06-06-2017, 07:21 AM
    adjusterjack
    Re: When Can You Get an Adjournment of a Collection Case
    Quote:

    Quoting tomnboo
    View Post

    I was curious to find out how much notice you have to give a non jury trial to get an adjournment. The case involves a defaulted loan from a credit union. We need time to explore options such as bankruptcy. In order to file for bankruptcy, you need to go through credit counseling which is, I believe, at least six months.

    How long an adjournment can you get? I think we'd be looking at over a year to get this situated.

    Neither the court nor the creditor (especially the creditor) will allow an adjournment to give you time to file bankruptcy. They (especially the creditor) will move to judgment as fast as possible.

    Quote:

    Quoting tomnboo
    View Post
    And, if it turns out you can't or aren't eligible to file for bankruptcy, can you be held liable for ongoing interest on the account?

    You will be liable for all ongoing interest until you pay it off.

    Quote:

    Quoting tomnboo
    View Post
    And, if you go to the hearing and they want to collect (either through garnishment of wages or a payment plan), is there a way to only pay the original amount that was owed and get rid of all the interest and penalties?

    Sure. Many creditors will settle for a large amount of cash and waive the rest.
  • 06-06-2017, 07:35 AM
    flyingron
    Re: When Can You Get an Adjournment of a Collection Case
    The interest continues to accrue even if you DO file bankruptcy. The stay on lawsuits doesn't change that.
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