Can dabt collectors sue you for real? and what do they do if you do have any money ...?

Question

Can dabt collectors sue you for real? and what do they do if you do have any money ...?

Answer 1

Yup they can. I just got sued from LVN something financial, and it was for a very little amount (compared to most debts) I got served with a subpoena and  all.  

  I asked one of the lawyers at work what I should do he gave me my options. 1.) Follow through with the suit and deal with all the fees that come with that, more than likely you wont win (unless you can prove debt is not yours)

2) Don't do anything about it and let the interest build up until years from now they start holding leans on your property and would have to declare bankruptcy 3.) call the collector and settle your debt many times they will be jerks to you but you have to deal with it. Offer them a reasonable settlement and they will more than likely take it , especially if it is toward the end of the month they are in "close out" mode an they will take anything just to hit commission.

I know this because I have a few friends that work for a collections agency.

I chose to settle my account and they didn't go through with the law suit.

Answer 2

Yes, they can sue you.

You owe them the money, but you won't pay, so they can get the courts to force you to pay.

Answer 3

what are dabt?

yes debt collectors can sue you FOR REAL!

thats for the court to decide

Answer 4

meh... it just depends on how much you owe them. If its alot of money than they might, but it will take a while. I have had a collection for around 2 years before I paid on it. Im in collections for about 5 other things right now and I havent heard anything.

I just changed my phone number so didnt have to hear their bolonga.

Good luck!

Answer 5

Yes they can really sue you on behalf of whomever you owe money.  If you do have the money they will have to take you to court roughly three times; 1. If you say you do not owe them the money, 2: to actually present their case to the judge and a 3rd and maybe 4th time to enforce payment by getting a lien over your bank account or other valuables or to get a direct payment from your pay checks.  

Answer 6

Depending on the size of the loan and the type of loan, debt collectors will typically take you to arbitration which means that you will appear before a court.  If the amount is small, then you will typically have a form 1099 appear and you will have to claim the charged off debt as income for that year and pay taxes on it.  It's more beneficial to your credit and your income to simply pay the loan if you have the means to, or work out something with your bank so that you are able to pay back something.  An unpaid charged off account can remain on your credit file for 10-15 years.