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Debt Collection lawsuit Video #9

 

Bankruptcy Video Series

Loss Mitigation Video Series

 

All Phases Of A Lawsuit Brought Against You

Hi.  Welcome to our 5th episode where we will discuss a debt collection lawsuit.  I am Nevada Licensed Debt Adjuster Damian Falcone.  In this video we will discuss all phases of a debt collection lawsuit brought against you to collect a debt, from how to respond to the debt collection lawsuit, to what property and income is at risk if a judgment is entered against you.

This is Get Settled - your source for consumer debt settlement information.  As always, for even more information on credit management and debt management for personal or business, go to www.falconcreditmanagement.com.

There is a chance that your creditors might choose to file a debt collection lawsuit against you in an attempt to collect a debt.  Keep in mind that the ultimate purpose of a debt collection lawsuit against you is to get a judgment from the court so that your income or property can be seized to satisfy the debt.  If you can convince your creditors that you have no income or property that can be used for that purpose, there is a chance that they will not waste their resources on the necessary time and money it takes to file and fight a debt collection lawsuit.  But, even if you can show that you have no money and no property, your creditors still have the right to a judgment against you if they can show that you legitimately owe the money.

In most places, a creditor initiates a debt collection lawsuit with the filing of a complaint.  That complaint, along with a summons, must be personally served on you.  Usually, this means that a copy must be personally delivered to your home and given directly to you or another adult that lives there.  It is very important that you do not ignore a summons and complaint if you receive one.  Generally, the summons will give instructions on how to proceed – usually by a personal appearance at the court or by the filing of a written response to the allegations in the complaint.  Follow these instructions very carefully.  The debt collector’s biggest hope is that you ignore the complaint or fail to follow the instructions given.  If that is the case, they can simply ask the court to enter a default and grant judgment against you without you ever getting chance to give your side of the story.

After filing your response to the complaint, it is helpful to serve written requests for information and documents on the other side.  Request copies of original signed contracts, account statements and proof of ownership of the debt.  If the attorneys cannot produce this information, they will have a harder time proving to a judge that you owe the debt.

Finally, if the debt collection lawsuit is set for trial, the most important thing is to show up.  I cannot stress this enough.  Once again, the debt collector’s greatest hope is that no one shows up to dispute the debt at trial, giving them a win by default.  And remember, the worst that can happen is the same thing that would have happened if you hadn't appeared at all; a judgment. You can't make it worse by being there, you can only make it better. If you decide to go this far without the help of an attorney, you will need to familiarize yourself with the court’s procedural rules.   Being at the trial and knowing the rules won’t guarantee victory, but it will maximize your chances for success.  

I’m Loss Mitigation Specialist Damian Falcone and this is “Get Settled".  Your source for debt settlement and debt consolidation information.

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