My wife and I recieved a "pre-approved" check in the mail for $2500 on aug 15, 2005 from a financial institution. Cashing it created a loan.
I later made some poor decisions in my business and we fell on some financial difficulties. I am in the process of rebuilding and money is tight, but we are ok.
This creditor has filed a suit (court day in about a week).
I do not dispute I owe the money. Not to mention, I am sure inability to pay is of no concern to the court.
My concern is not so much judgement (we will pay soon as things pick up) but garnishment of my wifes part time wages or bank account.
We have no assests so to speak to be concerned about them taking except an 403 retirement or something my wife has from an old job.
Is it worth paying to get an attorney, and if so, what will be the benefits to my wife and I?
The suit is addressed to my wife and here POE.
They are asking for money owed, plus the interest agreed PLUS cost, (more?) interest and attorneys fees.
What are my options - or do i just show up - and take the judgement and hope they don't garnish?