Are You settling a debt after being sued?

Are You settling a debt after being sued?

Never Ignore Deadlines! If you have been sued by a creditor or a collection agency on a debt that you owe, one way to resolve it is a settlement. Settlements are generally good for both parties, or at least less painful for both parties.

How long does it take to respond to a lawsuit in Georgia?

Contacting the lawyer for the creditor or collector, discussing a settlement, or even coming to an agreement on a settlement, does not stop the lawsuit and does not change the deadlines. In most courts, including Georgia, you have about 30 days to respond to a lawsuit with an appropriate answer or motion.

What’s the best way to settle a debt?

One common resolution that often works for both parties where the settlement involves a long term payment plan is a consent judgment that is held by the creditor’s lawyer and not filed in court. For example, if you are sued for $10,000, you might agree on a settlement amount of $5,000, paid in ten monthly installments of $500 each.

What happens if you get sued by a collection agency?

If you have been sued by a creditor or a collection agency on a debt that you owe, one way to resolve it is a settlement. Settlements are generally good for both parties, or at least less painful for both parties. The creditor gets some of the money it is owed, and you hopefully are able to pay less than the total amount of the debt.

Never Ignore Deadlines! If you have been sued by a creditor or a collection agency on a debt that you owe, one way to resolve it is a settlement. Settlements are generally good for both parties, or at least less painful for both parties.

One common resolution that often works for both parties where the settlement involves a long term payment plan is a consent judgment that is held by the creditor’s lawyer and not filed in court. For example, if you are sued for $10,000, you might agree on a settlement amount of $5,000, paid in ten monthly installments of $500 each.

Contacting the lawyer for the creditor or collector, discussing a settlement, or even coming to an agreement on a settlement, does not stop the lawsuit and does not change the deadlines. In most courts, including Georgia, you have about 30 days to respond to a lawsuit with an appropriate answer or motion.

If you have been sued by a creditor or a collection agency on a debt that you owe, one way to resolve it is a settlement. Settlements are generally good for both parties, or at least less painful for both parties. The creditor gets some of the money it is owed, and you hopefully are able to pay less than the total amount of the debt.