If Ireceived a summons on a consumer credit transaction what do I do?

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If Ireceived a summons on a consumer credit transaction what do I do?

I am currently working with a debt consolidator. I have no money to my name because my money is going to the consolidator (reputable company). It is hard enough for me to even live as I can barely make payment on my other bills or even afford food to eat. What are my options in terms of this?

Asked on November 3, 2010 under Bankruptcy Law, New York

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Not to be unsympathetic, but your financial situation is not directly a concern of  your creditors: if they are not being paid, they can sue you. If you have not been paying on valid debts (e.g. you can't defend on the ground that the debt was fraudulently incurred), you will almost certainly lose and they will get a judgment against you. They can use that judgment, if you do not voluntarily pay, to possibly put a lien on property, force a sale of some of your property, or garnish either wages or bank account.

Note that  if your money is gong to the debt consolidator not the creditors, you are setting yourself up to be sued: you have NO right whatsoever to not pay creditors because you are working with a debt consolidator. If the consolidator is withholding the money to try to  accumulate enough for an offer to settle the debt, for example, the consolidator has put you in default of your debts.

You may need to consider bankruptcy as an option, especially if you don't have much income or assets to put at stake.


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