Law Suits

[ando]

would you say if you don't get sued after a year and 4 months your chances of getting sued diminishes? And what happens if you just stopped answering these 30 day notices from debt collectors , does that mean if they don't hear from you, they will enter a default judgment? or before the judgment you should be able to get something in writing that they will issue one?

[lrprn]

The ability to sue you in court for non-payment of debt depends on the kind of debt.

Almost all non-secured debts have statutes of limitation that vary by state and the type of debt. See a listing of all the state collection laws here - http://www.carreonandassociates.com/...ectionlaws.htm . Until the stated time frame has passed, the lender or anyone they sold your debt to can take you to court. If they can prove you owe the debt, then you will lose the case and be liable for payment. The key is whether the lender can produce the documentation that you signed to get the borrowed money or finance the asset.

Secured debts do not have a statute of limitations. If you don't return the secured asset, then the original creditor can pursue you forever if they wish to attempt to get their property returned or be compensated by you for its loss.

Having said this, understand that whether you'll be pursued or not really depends on whether the creditor or whoever they sell the debt to thinks the return on pursuing you in court is worth it.

What kind of debts are you worried about being sued over? How much money is involved?

[HHM]

I don't think your chances go down, your odds sort of leveled off.

I just spoke to a guy who hasn't paid on a CC debt since 2007 and was sued last month.

[ando]

Thanks HHM , most of my debts are unsecured , credit cards personal loans apprx. total 70 k .They range from 10k-20k each account.I've been living on a cash bases since , keeping a low profile until I am able to push the big red button.If I am not bothered ,I say live and let live , I don't bother you , you don't bother me , when the beast opens his teeth and makes his first move ,I have my options and should be ready.

[ryan]

I don't think a year and 4 months is that long anyway.

From what I've read it wasn't that long ago that lawsuits weren't even happening, typically, for at least a year. It's just more recently they seem to be occurring earlier, probably because conventional collection methods aren't producing very well.

[kornellred]

Due process is applicable in all lawsuits. You must be notified of the plaintiff's intent to sue you for non-payment of a debt. There was a time when a process server had to actually hand the papers to a defendant, but those days are largely over with. If there is no response from a defendant, it is assumed that the lack of response is deliberate and a default judgment is automatically entered.

[catleg]

I think the trend in the industry is towards greater litigation, making me wonder when the states are going to wise up and tax this river of greed by increasing their court fees. If for no other reason than to cover their costs for automation, because of the extra caseload.

[tarichann]

I stopped paying my credit cards in 2006. I pulled up my credit report 2 months ago and I have two recent judgements on my report. I didnt even know about it till I looked at my report. It took them almost 4 years to sue me and get a judgement. Thats y i am filing bk

[shark66]

@tarichann:

If you could prove that you were never served, those judgments could likely be fought on some level, a lot depends on your state - at least that's my understanding.

Good luck.

[tarichann]

Hey shark66,
I researched it when I found out that I had the judgement and yes I can go to court and try to get it over turned and I was thinking about it. But with all the collection calls made daily to me I just want to file bk and not have to worry about this debt anymore. T

[blondeinmn]

I was finally sued last month. Plaintiffs' ability to collect on judgement begins Friday. I am signing the Chapter 7 papers tomorrow morning. It has been 19 months without paying. Judgement is for the smallest card I have (had). Less than $2000.00. Original balance $1100.00