Incomes Growing Faster than Debt in US
If you owe a considerable debt because you didn’t pay your credit card bills or pay back a loan, it can have a negative impact on your finances. Not to mention you may also face a lawsuit that’ll present itself in the form of a civil summons.
Creditors and debt collectors have the right to pursue legal action against individuals who have defaulted on debt payments. There is, however, a statute of limitations on debt collection in Illinois they must operate within in addition to numerous other regulations. To begin the process of validating and handling the alleged debt, you must take action. You have three options for answering a civil summons for credit card debt:
Ignore the Summons
Ignoring the summons is an option but is never advisable. It can lead to even more problems, including wage garnishment and levies on your bank account. If you own valuable property, there may also be liens against it if you ignore the summons. It is far better to go to court because neglecting a subpoena will not benefit you in any way and will only lead to more problems.
Settle the Debt
Settling your debt is a far better option. It requires you to contact the creditor to negotiate a settlement amount. An agreement can significantly benefit you because, at this point, the creditor is much more amenable to agreeing on a settlement and it negates having to go to court.
Thoroughly look through your finances and come up with a budget to determine how much you would be able to pay back before getting in touch with the creditor. On average, settlements can range from 40 to 80 percent of what’s owed.
Go to Court
If the creditor doesn’t agree to settle, the next option is to go to court. You should file an answer to the civil summons within 30 days of receiving it. When you receive the summons, you should also expect a complaint that includes allegations against you. You are required to respond to all of those allegations by writing your answers and provide them to the court.
Generally, you have the option of acknowledging or denying the charges against you. It’s essential to refer to yourself as the defendant in your response and have both printed and typed copies of the documents.
How you respond to a civil summons is crucial. Heather Benveniste with Benveniste Law Offices can guide you through this tough time. With seven years of experience as a debt collection attorney, she is aware of they approach lawsuits. She can use that knowledge to help you appropriate respond to the civil summons and pursue the most efficient course of action for specifically. Contact us today at 1-800-497-5358 for a free case evaluation.
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