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  1. #1
    Join Date
    Apr 2008
    Posts
    4

    Default Being Sued, Not Sure What To Do Next

    My question involves collection proceedings in the State of: TX

    I have an old credit card debt (still in SOL) that a collection agency has purchased and is using a lawyer to sue me for. The original balance before the lawsuit was 5000. With interest, fees, etc... added on, the lawsuit is for 11000 and growing at 24% interest. When i have contacted the lawyer to try and settle, the only option they would give was to settle and do payments on 11000 with 5% interest. I have answered the court so their shouldn't be a default judgement. There is no way i can make a large lump sum payment and i must get monthly payments in order to take care of this debt. I would like to reduce the overall amount if at all possible, but I'm not sure what my best option is. I have looked at retaining a lawyer to fight and try to negotiate, but it will cost 1-1500K with no assurance that i will get a lower settled amount on a payment plan. I am looking for advice on the best way to handle this, and if it is possible to get a lower total amount and a payment plan. Should i go for a lawyer, or go to court and see what happens with the judge and possibly appeal if the judgement is for the full amount?

  2. #2
    Join Date
    Sep 2007
    Posts
    110

    Default Re: Being Sued, Not Sure What To Do Next

    Quote Quoting ninjoker
    View Post
    My question involves collection proceedings in the State of: TX

    I have an old credit card debt (still in SOL) that a collection agency has purchased and is using a lawyer to sue me for. The original balance before the lawsuit was 5000. With interest, fees, etc... added on, the lawsuit is for 11000 and growing at 24% interest. When i have contacted the lawyer to try and settle, the only option they would give was to settle and do payments on 11000 with 5% interest. I have answered the court so their shouldn't be a default judgement. There is no way i can make a large lump sum payment and i must get monthly payments in order to take care of this debt. I would like to reduce the overall amount if at all possible, but I'm not sure what my best option is. I have looked at retaining a lawyer to fight and try to negotiate, but it will cost 1-1500K with no assurance that i will get a lower settled amount on a payment plan. I am looking for advice on the best way to handle this, and if it is possible to get a lower total amount and a payment plan. Should i go for a lawyer, or go to court and see what happens with the judge and possibly appeal if the judgement is for the full amount?

    Move on to discovery and ask for the assignment, among other things.

  3. #3
    Join Date
    Apr 2008
    Posts
    4

    Default Re: Being Sued, Not Sure What To Do Next

    Is discovery the trial or a letter that should be sent before hand? Is there a good resource for the steps of this type of thing?

  4. #4
    Join Date
    Jun 2008
    Posts
    1

    Default Re: Being Sued, Not Sure What To Do Next

    They charge you fee's, yes, but at the same time most debt negotiation company's will be lowering the total amount owed. Debt negotiation works, you just have to find the right company.

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