Legal Question in Credit and Debt Law in California
I am being sued by a bank for my overdue credit card debt, and a case management conf. is scheduled (this is in California). Is that a good time to try to settle the debt w/ the lawer at a reduced price? Do I need to do anything but just showing up?
2 Answers from Attorneys
Why did you answer the lawsuit without first consulting an independent lawyer? If you had any good defenses to the lawsuit, you've probably waived them. You didn't give enough information. If you have a lump sum to offer them, they might accept. They won't take installment payments. If you have wages they can tap, they probably won't settle at all.
Michael is correct - You should have consulted with a lawyer before you answered. If you did - good for you.
Before the Case Managment Conference you are required to file a report/statment. Any attorney can assist you with this for a nominal fee.
If you try to settle then be careful of the Stipulation for Judgment. Most debt fiends try to use this to make you default so they have a judgment. If you have a lump sum that is great but why give anything before the last possible minute, The longer you wait the more leverage you have for settlement.
Good Luck,
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