Legal Question in Credit and Debt Law in Michigan
Being sued by a credit card company.
My wife and I ran into financial problems when we bought a house then had a large drop in income. Her hours were cut in half and my job was costing more than I was making. We were forced to stop paying all unsecured bills just to survive. Eventually I was forced to feed my wife and son rather than pay occational house payments as well. In short, we lost the house and are now being sued by a credit card company. We don't have the money owed and don't know how to proceed.
1 Answer from Attorneys
Re: Being sued by a credit card company.
Either one or both of you need to file bankruptcy if you want to stop all the proceedings against you and obtain some relief. Unless you can pay back your debts, this is probably your only option. Once the creditors obtain a judgment against you, they will garnish your wages until the debt is paid off. It's better to declare bankruptcy and start fresh. If you are interested, please contact me. I have an excellent person who can help you - with very reasonable attorney fees.
If you only have a little bit of credit card debt, you could try to negotiate a settlement for a reduced amount whereby you make monthly payments. It's best to discuss the details of your situation with a bankruptcy attorney who can assess your entire financial situation.
Thanks.
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