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Debt & Default Judgment Judgments During COVID: Finding Relief

relief
  • Jan 29 2021

As a viral pandemic sweeps the nation, health issues should be at the forefront. Millions are sick with the coronavirus, hundreds of thousands have died, and the loss of loved ones and friends leaves countless people mourning. Sadly, financial concerns run neck in neck with health concerns. It is very hard to live without an income—and as job losses continue, far too many Americans are left scrambling and stressed out—with valid concerns about survival overall in the coming months.

If you are struggling with a troublesome debt burden right now, some of the problem (or even a large portion) may be related to older, delinquent bills. Typically, these include credit card debt, medical debt, and student loan debt. While many federal student loan borrowers have been offered massive relief in deferments throughout 2020 and now to the end of January 2021 (via the CARES Act), private student loan borrowers have been left to carry tremendous financial weight.

Currently, some private loan servicers may agree to longer deferments, halting of collection activities, and waiving of late fees too, but companies vary in their flexibility—while one servicer may only offer one-month deferments, another may offer them for 90 days or more. Credit card companies and debt collection agencies for medical bills may be willing to negotiate also; however, if you have multiple creditors hounding you, speak with a debt protection attorney from Fitzgerald & Campbell, APLC as soon as possible. This is even more urgent a matter if you have been served with a summons and complaint, or if a default judgment has been granted against you.

In the event that you are being sued, work with your attorney to file an answer right away—this will help you to fend off further issues that could be long-term if debts are not quickly satisfied; for instance, in the event of a default judgment being granted against you, not only could it last up to 20 years, but you could also find yourself losing wages, property, and dealing with a checking account that has been frozen (with full cooperation of your bank).

Our attorneys have decades of experience in serving clients as they navigate through challenging financial situations, to include student loan issues, bankruptcy, and other debt management processes. We are here to help! Click here to schedule a free 30-minute consultation, call us at (855) 709-5788, or email us at info@debtorprotectors.com.

Posted in: Judgments