My question involves collection proceedings in the State of: Texas.
Generally, if you have several delinquent accounts, with one bank, will the bank open several lawsuits, or just one?
My question involves collection proceedings in the State of: Texas.
Generally, if you have several delinquent accounts, with one bank, will the bank open several lawsuits, or just one?
It would make sense to file one lawsuit if appropriate to keep the banks costs down.
On the other hand, filing separate lawsuit would multiply the attorney fees that you'd have to pay and you'd get hit with a pretty big bill when you lose.
That depends on a whole lot of facts that we don’t know, like the timing of each account becoming delinquent, how much is owed on each debt, what kind of loans/accounts they are, what kind of deal the lender has with its attorneys, and what the terms of the loan accounts are. Very generally the lender would tend to prefer to sue for a single judgement on the debts as that is more cost efficient. But depending on other factors it may turn out that the lender files separate lawsuits for them.
If they don't sue, will the creditor likely sell the accounts separately to the debt buyers?
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Are they likely to sue for 6 accounts becoming deliquent, less than 3000 dollars?