Just spoke with my Attorney who told me that it would cost me too much money for so little if I hired him to go court for a matter that has been on my Credit since 2002 and has not kept me from getting a Condominum or 2 cars, in which 1 has been paid off. He also stated that they can't do anything else to my credit than they have already. I got a copy of my Experian Credit Report in 2005 with a score of 669. I was able to get a Vehicle Loan last month at 13% Interest Rate for 3yrs. So maybe I should just let it go into default because the Chase Credit Card has been put on my Credit as a charge-off since back in 2002. He thinks that I should just let it go. If I go down to court all I can tell them is that I receive $1300.00 a month retirement check and my bills including my Condo note of $484 & car note $184 add up to $1200 a month already, so I have nothing to send them anyway. So I'm torn, should I go to court, because I have NO money to offer? I was told by them that they could possibly ask for a judgement of a "lien" against my Condominium, that I still owe $64,000 on to my Bank. What is a property lien? (Spelling check!)
Thanks for any help,
Lucy
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Well, it a lien on your condo means that if you sell your property, they WILL be paid from the proceeds. I suppose it would also be possible for them to forcibly sell your car(s). With a judgement, it becomes harder to find creditors willing to lend to you.
A judgement is the order from a judge to pay the creditor.
A lien is a form of executing the judgement.
Is your attorney suggesting that you default on the new car loan? A repo will also hurt your credit, too.
I would certainly show up at the court date. I don't know which state you are in, but many states have several exemptions from judgment, and consider your financial situation.
Re: Civil Summon Court
Thanks for the explanations on " judgement & lien."
I live in South Carolina. I aleady sold my older model car, but took just got a Loan from the Dealer for a Used 2001 Ford and have made one pmt. $184.00) on the 3yr Loan.
This is the 2nd Summon on this matter that I rec'd. I didn't reply in writing by the due date. I don't know if I will receive another one, but after speaking with a Court Clerk, I should have replied in writing within 20 days. Maybe this was an avenue I could try if I get another one.
Thanks for the info!
Check with the court clerk to see if the creditor is now eligible for or has already obtained a default judgement. IMO, it is highly likely that they will seek and be granted judgement, as you failed to respond to not one, but two summons. If they haven't gotten judgement yet, ask the clerk or your attorney if there is anything you can do right now to avoid a judgement.
Re: 2nd Civil Summon
Thanks for the advice, I will call & check on that. I want to check to see if I can file written documentation to the judge showing my financial situation at this time. Thanks for the gleamer of hope, where's there maybe darkness, there should be some light!!