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Why Creditors Don’t Expect You to Fight Back During Collection Lawsuits

creditors
  • Mar 13 2019

Debt is an insidious creature, sneaking up on you and stealing your ability to pay bills, pay for the essentials, and in many ways, leaving you unable to enjoy life–especially with creditors calling constantly. You may hear people comment often on how money won’t buy you happiness, but there are few who can deny that being broke is a miserable experience. It’s easy to lose track of your money, and of your budget, and especially when the temptation of credit cards in part of the equation. Although consumer debt is at an all-time high, the ‘bubble has not burst’ in this realm (yet) and lenders continue to approve large numbers of credit cards and other loans too. Along with that, consumers continue to spend, and in many cases, hike up personal debt they can’t afford to pay back later.

You may be in financial straits for other reasons though, going through difficult personal circumstances beyond your control. Medical issues are one of the number reasons consumers file for bankruptcy, as you may not only have to recuperate from an illness or an accident, but are unable to work either temporarily or permanently. Divorce can cause extreme financial upheaval (as well as reason to file for bankruptcy in some cases) along with other family issues such as having to caretake, grieving from a recent death, and more. Student loan debt can be an intense burden too, forcing a surprising number of borrowers to hit financial rock bottom.

If you have become delinquent on numerous accounts during this time, collections activities may have amped up to frightening levels. With no money to pay creditors though, you may have found you had little left to say or to explain to them. And while they may extend sympathy and offers for other programs for a while, if they don’t get any payments—and soon—you may find yourself being sued. Sadly, creditors and debt collections agencies consider themselves to be in a great deal of power upon having you served, and this is because they have learned time and time again that most defendants simply don’t respond at all or even show up to court.

Creditors usually expect that a lack of financial resources will keep defendants from putting up a fight, or they hope that the court system is so intimidating to the account holders they are suing that they just avoid the whole situation. Making matters even worse, this lack of reaction can allow a default judgment to be granted almost immediately, causing negative repercussions that can be long-lasting and wreak havoc on your current finances.

If you are finding it difficult to pay your bills, or are being sued, or have judgments granted against you, contact us at Fitzgerald & Campbell, APLC. We can review your current situation and discuss your options with you, whether that means fighting in court, negotiating a settlement, filing for bankruptcy, or more. Our attorneys have decades of experience representing clients in all types of financial matters, and we are here to help you! Call us today for a free consultation at (855) 709-5788 or email us at info@debtorprotectors.com.

 

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Posted in: Collections lawsuit