Legal Question in Credit and Debt Law in New York

I've been sued by a bank

Hi, I just received a summons stating that I am being sued by Chase bank for unpaid balance. The amount was originally owed to First bank, and I was not aware that First bank is now Chase. I have the money to pay the entire amount, but what is the best thing for me to do in order to save my credit? Please help.


Asked on 7/27/08, 6:00 pm

1 Answer from Attorneys
Jeffrey Shepro Jeffrey Shepro PC: NY Commercial Real Estate and Business Law

Re: I've been sued by a bank

At this point you must respond to the complaint to avoid default judgment. You should follow the instructions on the summons or hire an attorney. You can also try to contact the Plaintiff or their attorney's to try and negotiate a settlement (if they are willing to speak with you). If you are worried about your credit, you might try to make a settlement offer including an agreement by the bank not to report any negative activity to any of the credit reporting agencies. Any agreement should be in writing. There are other factors to consider, please call if you would like to discuss further.

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Answered on 7/28/08, 1:50 pm


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