Legal Question in Credit and Debt Law in Georgia

I was served papers for defaulting on a credit card

I was recently served my the sheriff for a credit card amount that I owe for a little over $7000. I am currently not working and in school and the little money that I have is used to pay for my basic living expenses (housing, car, electricities). I also have many other credit card debts that are deliquent, is there another way to negotiate and reduce the amounts I owe because I don't want to file for bankruptcy.


Asked on 10/27/07, 1:46 pm

2 Answers from Attorneys
Scott Riddle Law Office of Scott B. Riddle, LLC

Re: I was served papers for defaulting on a credit card

After aq lawsuit, the creditor is likely to want a cash settlement. It is unlikely they will drop the suit until a full settlement is paid. Contact the lawyer. The obvious question (you should ask yourself) would be why you are not working and delaying school, while you straighten out your finances.

Read more
Answered on 10/27/07, 1:56 pm
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

Re: I was served papers for defaulting on a credit card

With "many" such debts, the odds of doing what you say wityh everyone at an amount you can afford are bad. It sounds more like a bankruptcy situation, and, before you rule that out, given the situation (and the adverse tax hit from the IRS you may take on negotiated settlements), you should meet with a bankruptcy lawyer to consider all your options. My office handles those.

Read more
Answered on 10/27/07, 4:43 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Georgia