Legal Question in Credit and Debt Law in Arizona
Defaulted Loan
Today, 06-19, we received a summons on a loan that we defaulted on for $660.00. What do we need to do? Do we go to the court and file? And what do we file? In general, what are options? Thank you.
1 Answer from Attorneys
Re: Defaulted Loan
You have four options...
1. Do nothing, and the other side will get a default judgment against you. DO NOT DO THIS!
2. You can answer the Complaint yourself. The documents you were served will state the Court at the top..that is where you can file your answer. You can get a form to answer from the Court.
3. Attempt to negotiate with the person suing you to work out a payment plan. Be very careful here...they usually will require that you side a stipulation as to judgment where if you fail to meet the agreed upon terms, they will get a judgment against you for the full amount that they are asking for without you getting a trial.
4. Consult with an attorney, preferably a consumer law attorney, who can evaluate the case against you and advise you if he/she will represent you.
If you have any further questions, feel free to call my office.
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