What to do if You are Mailed a Debt Suit/Credit Suit/Loan Suit, Weatherford Attorney
If you’ve received a debt suit in the mail or through a personal service, it can be a scary process. Or, it could be a complete surprise. No matter how you feel about the service though, one thing is true: you should take it seriously.
Why? Because if you don’t respond or acknowledge the suit within as little as 14 days under Texas law, you can be deemed automatically guilty, whether you are or not!
So don’t brush it under the rug. Address the matter, and contact me if you need help doing so. I’m James Foley, PLLC, and I am a licensed attorney serving Weatherford, Mansfield, Aledo, Azle, and more. Phone me at 817-738-1633 or stop by my Fort Worth office and we’ll make sure you’re set up for the best path forward.
The hardest part about this process is knowing where to turn and how to handle it. There are so many paths forward that you may not have all the information on which is best for you.
RESPONDING TO THE SUIT | Tarrant County Debt Suit Assistance
No matter what sort of entity is bringing the suit, I can’t emphasize enough that you should respond promptly, and that’s when our work can begin.
While companies with names like Cavalry, Portfolio Recovery, and Midland Funding may be foreign to you, and may sound fake or fraudulent, they are determinedly real, and must be dealt with as such. Luckily for you, only around 2% of consumers bring on a debt suit attorney like me to fight for them, so if you choose that path, you’re set for the best possible outcome.
But before we get to that stage, we need to make sure that even if the suit is legitimate, that the original debt is too. With some sleuthing, and possibly information from the debt buyer, find out what debt you have been sued for. If you don’t recognize the charge, your identity may have been stolen.
It’s not a pleasant way to find out you’re a victim of ID theft, but that doesn’t change the fact that quick action is your best bet in a case like this.
If the original debt is the result of theft, then take the following steps as soon as possible:
-File a police report.
-Obtain what’s called an FTC affidavit.
-Freeze your credit with Equifax, TransUnion, and Experian once you have the above documentation.
At this stage, you still may need my help to ensure that the court knows not to pursue you. I can help, so give me a call.
Check your accounts for fraud at no cost to you using www.annualcreditreport.com.
HANDLING A LEGITIMATE DEBT SUIT | Fort Worth Wells, Bedford, Mansfield Attorney/PLLC
Consumers may not realize that they have options when it comes to a legitimate debt suit. This is another reason why I wish more than 2% of consumers would hire a good attorney in times such as these. You don’t have to pay the full amount today, tomorrow, or potentially ever if you’re unable to.
Your options boil down to three main directions: a negotiation, an extension, or a bankruptcy. While bankruptcy can be a scary word, there are many legitimate reasons to declare a bankruptcy, and the practice shouldn’t be cast off as a last resort if it can help you.
SETTLING A DEBT SUIT
I’ve seen enough suits, and helped enough consumers, that I have a good grasp of what debt suits can be settled for across all of west Fort Worth. I’ve dealt with debt buyers like the ones who may be suing you, and they know that some money is better than none at all. Plus, they may have purchased your debt for pennies on the dollar, and will still make a profit with a lower settlement amount. Take advantage of that.
Even better, I’ve argued in front of judges in Cleburne, Fort Worth, and Weatherford, and I know how many of them may rule. Based on whose courtroom you find yourself in, I’ll make sure you’re set up for success no matter how tough your judge may or may not be.
So let’s take a look at your finances, and see what the best number we can come up with would be to free you from this circumstance, and potentially without ever having to go to court.
NEGOTIATING A PAYOFF CALENDAR
You might be thinking though, if I’m barely hanging on by a thread right now, how could I come up with the money to pay? That’s where we can find the right settlement in going to court.
Maybe you’re in a tough place right now, or you have a number of things that prevent you from making a settlement payment. Whatever the case may be, there’s opportunity for relief. Just like with the settlement option, debt buyers or creditors are looking to be paid, whether that happens now or in the future. I know the terms they may accept, and will work to get you your own fighting chance of paying off the amount.
But again, and with more difficulty, you may find that you’re already party to other suits. You may have loans that are piling up, on top of daily expenses causing hardship. If that’s where you find yourself, and you’re located in Weatherford, or in the greater Dallas/Fort Worth areas, reach out and we can discuss Bankruptcy.
DISCUSSING BANKRUPTCY AND NAVIGATING IT WISELY
When the coronavirus pandemic harmed businesses across the nation, they too found themselves unable to make payments due to hardship. The government intervened in some of these cases, and bailed out the companies. In a similar fashion, the average consumer deserves the same chances. And that’s what the process of bankruptcy hopes to provide.
While bankruptcy shouldn’t be the first line of defense in a debt suit, it isn’t a worst case scenario either. I try to help my clients exercise their right to bankruptcy in a smart fashion, ensuring that they’re set up for success when the process concludes, and are able to break out of the cycle of debt they may find themselves trapped in.
As long as you’re considering bankruptcy in Texas, I’ll be on your side, across all of Granbury, Aledo, and Cleburne, into Fort Worth and Arlington too.
Did you know that you can retain assets in bankruptcies? That’s right, especially under chapter 7; you probably won’t lose your home and/or vehicle. As I said, this is the way to go if the opportunity looks right for it, and I’ll help you be the judge of that.
No matter whether we choose to fight, settle, or declare bankruptcy, I’ll get you the best result I can!
When you’re ready to talk to your legal representative about your options, give me a call. I look forward to helping you pave the way to financial independence.
Arlington, Aledo, Weatherford, and fellow Texans across DFW, call me today at 817-738-1633, and let’s get you back on the path to success and stability.