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Collection Lawsuits: Can the Credit Card Company Take My Property?

collections lawsuit
  • Jun 11 2019

While most individuals in the US have some debt, if yours has become excessive, it is in your best interest to find a solution to the problem– and quickly so. Financial issues have the potential to escalate rapidly and can affect nearly every area of your life. Often, however, severe debt is indicative of another issue too. You may be having serious trouble otherwise; in fact, your other issues may loom much larger than finances if you are seriously ill (and may have even been fighting for your life), or if you have found yourself severely debilitated after a car or motorcycle crash.

Medical debt can be one of the most common precursors to serious financial distress and even bankruptcy. And credit card debt usually follows. If you have fallen into a situation where you cannot work or may have even lost your job, credit cards may become your last form of income as they are used for co-pays, medical procedures, prescriptions, and other essential bills too. The problem is that this type of income runs out quickly. Just one late payment can escalate into a situation where you may fall behind on the minimum payment, making the next month more difficult. Eventually, you may lose your grip on an account entirely, leaving you to look back wistfully on the days when you had a solid financial relationship with that creditor.

As you deal with other major issues in your personal life and the bills pile up, you may have a sense of dread wondering what is going to happen, ruminating about what creditors and debt collection agencies are getting ready to do behind the scenes. No matter what, the reality is that without good legal advice or protection, your financial situation will only get worse. If the creditor decides to sue, you may find yourself looking at a summons and complaint with only 20 to 30 days to respond—and your presence required in court. This is a defining time for your financial future, but with the help of a skilled collection lawsuit attorney from a firm like Fitzgerald & Campbell, APLC, you can look forward to guidance in replying to the lawsuit as well as launching a defense.

If the collection lawsuit is not put to rest early, you may find yourself faced with a default judgment – and this is where life gets very complicated if you have a job or anything left to protect. While most creditors or debt collection agencies suddenly imbued with the power to chase their debts more aggressively will start with the easiest route by garnishing your wages, if they do not see the debt being satisfied that way sufficiently, they may contact law enforcement to seize your property and sell it at a public action. Unfortunately, these are the realities of the default judgment. If you act quickly enough; you may be able to turn the situation around before such repercussions occur.

We can help you explore your options if you are sued or a judgment has been granted against you. Our attorneys have decades of experience in serving clients with similar financial situations. Let us review your case and discuss what would work best for you. We are here to help! Call Fitzgerald & Campbell, APLC today for a free consultation at (855) 709-5788 or email us at info@debtorprotectors.com.

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