Results 1 to 2 of 2
  1. #1
    Join Date
    Sep 2016
    Posts
    13,916

    Default Sued for Debts After Losing a Job

    A man in Florida lost his job and fell behind on his bills. Now he is being hounded by creditors and one has filed a collection lawsuit. What can he do?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Sued for Debts After Losing a Job

    The most obvious option is to file Chapter 7 bankruptcy.

    Other options include trying to negotiate with the creditors -- although for that he will need money to pay off any agreed settlement; and finding sources of revenue or income so he can resume paying his debts. He needs to be careful about liquidating assets as some (or all) of his assets may be exempt from collection -- including his retirement accounts, if he has any.

    1. Sponsored Links
       

Similar Threads

  1. Collection Lawsuits: Can You Be Sued For Debts Your Ex-Spouse is Supposed to Pay
    By nightlady in forum Debts and Collections
    Replies: 3
    Last Post: 03-10-2012, 05:35 PM
  2. Purchase Contracts: Can I Get Out of My Contract Without Losing Earnest Money and Getting Sued
    By spin360 in forum Buying, Selling and Conveying Real Estate
    Replies: 1
    Last Post: 08-25-2011, 09:48 PM
  3. Business Disputes: Sued Personally for Debts of Dissolved Corporation
    By Gary500R in forum Business Law
    Replies: 2
    Last Post: 11-01-2008, 09:14 AM
  4. Debt Collectors: Being Sued Over Medical Debts In Missouri
    By cheapfun4u in forum Debts and Collections
    Replies: 4
    Last Post: 01-31-2008, 08:00 PM
  5. Debt Collectors: Sued for credit card debts in Illinois
    By locolorenzo24 in forum Debts and Collections
    Replies: 3
    Last Post: 09-06-2005, 10:47 AM
 
 
Sponsored Links

Legal Help, Information and Resources