Anonymous
Anonymous asked in Business & FinanceCredit · 1 decade ago

How likely is it a collection agency will file suit against me under the following situation (see details)?

IF I am homeless, on general assistance and food stamps, BUT have a legal claim to monetary compensation in a lawsuit (value not yet determined / no settlement agreement)?

7 Answers

Relevance
  • Anonymous
    1 decade ago
    Favorite Answer

    There are some very diffrent answers in here. What ever you do dont settle for a buck a month, it starts you statue of limitations.

    How old is this debt/how much. If it is lets say 6 years old dont worry at all it is out of the states statue of limitation, they cannot touch you. They do research to see if you are worth while in filing a suit, seeing that your are homeless they will not bother it cost lots of money for them to bring a suit against some on. If you winnings in your suit is substantional and you then buy assets at a later date they will research this out and possible then file a lawsuit but unlikley.

  • Anonymous
    1 decade ago

    If the collection agent knows you may be falling into some money, it's likely they will sue you.

    This of course depends on how much you owe and where the collection agent is.

    Generally they will not mess with suits less then $500, and will most likely go after $2000. And if the collection agent has an office located near you, that's also going to increase the chances.

    If they don't know about your other lawsuit...send them a letter and outline your current situation. Tell them you are "judgment proof" and if they sue you there is little chance they will get anything. Then make an offer for a settlement of far less then you owe, and set payments at what you can afford. Get it all in writing.

  • 1 decade ago

    It would be difficult for the agency to collect anything, considering your current situation. In addition, there is no guarantee that you will win your lawsuit and even if you did, any monetary settlement may be a long time coming.

    As I see it you have two options: First, you could declare bankruptcy and walk away from your obligations, or in the alternative, negotiate with the party to whom you are indebted to stop interest accrual in return for "good faith" payments in an amount you can afford, (a minimum of $1.00/ month), with the understanding that you will pay off the debt if and when you receive a "substantial" cash settlement.

  • 4 years ago

    Ring the series company and exercising recurring a fee plan. they receives off your decrease back in the experience that they could see you're making an attempt and in case you keep on with the plan. If the repo guy has already taken the bike then what befell to the money that it replaced into offered for? once you've helped him get the bike, what kind of man or woman is he being with the help of letting you're taking the fall for non-fee. you've a baby to imagine about and now there'll be a mark antagonistic for your credit historic previous, which in the destiny you may desperately choose a private loan and this would reason complications. back like I reported, seek for suggestion from with the credit company. definite it ought to experience humiliating besides the indisputable fact that that's going to keep your sanity interior the lengthy time period. also seek for suggestion from with the guy that had the bike and tell him to initiate searching different procedures to pay the debt, no matter if it ability he has to promote the mattress he sleeps in. that is bigoted to you and your daughter. get up on your rights and your toddler's, because of course this guy received't. Any guy which will enable a baby wade through for his personal complications is susceptible. do not make excuses for him, preserve your toddler. good success!

  • How do you think about the answers? You can sign in to vote the answer.
  • 1 decade ago

    It depends on the amount you are talking about, If it is worth their while it increases the odds of them coming after you, it is unlikely they will sue you if you are homeless as homeless folk are hard to find for collection agencies as such they are hard to serve

  • Anonymous
    1 decade ago

    Not only very extremely likely but guranteed if you come up with a settlement and they know it. See oneof the gubby lawyers and they will guid you thought keeping part of your money. (they'll keep the othe rpart.)>

  • Anonymous
    1 decade ago

    How will they find out?

Still have questions? Get your answers by asking now.