Legal Question in Credit and Debt Law in Massachusetts

I'm being sued for a credit card debt with a trial date set for 09/2011. I acknowledge that I owe the debt but can't pay it because I was laid off on 01/ 2009. I am on social security disability as it is my only income. I offered the plaintiff all the money I have which is $2200. My debt is $8116. They refuse my settlement offer. My question is when I went to the trial conference the plaintiff tried to have me sign a judgement for the $8116 also agreeing to take my offer $2200. I did not sign and a trial date was set. They ask me if I own a home and what I owe on it and what was the value. Why did they ask me this. Am I going to lose my home if their is a judgement against me.
Thanks,
Tim

Asked on 4/14/11, 1:28 pm

2 Answers from Attorneys

Christopher Vaughn-Martel Charles River Law Partners, LLC

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I'm sorry to hear you are in this position.

Your settlement offer may have been a little aggressive. Assuming you own a home and earn wages subject to garnishment, they are probably not going to settle with you for that little.

I am thrilled to hear that you did not sign their agreement for judgment. Once you sign that paper, you have given them a judgment against you in the full amount. That judgment is good for a period of 20 years, and continues to earn 12% interest yearly.

Call my office if you would like to discuss settling this matter with the help of an attorney. Please feel free to call me if you would like to discuss.

Answered on 4/14/11, 1:45 pm

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