Loans are taken for
several purposes and the moment you take them it is sure that you need to pay
them back. A little financial setback can damage the entire planning and land
you up in many legal issues. 'Being Sued For Debt' sounds quite severe to all of us. So the first thing to mention
is 'relax.' Like all other problems, this too has a solution. If you deal with
it impatiently, you shall never get a solution.
Here are some tips
that would guide on things to-do and not-to-do when you are sued for the debt:
Do not give the
creditors an access to your bank account.
The creditors often
play a smart game for your Credit Card Debt. They call you up before the due date and say that they shall withdraw
only $ 100 or so. Now say, you say a 'yes.' Then, in 3 to 4 days you come to
know that they had actually withdrawn $ 1,200. Here, even the lawyers would not
be able to help you as you have no records of the amount you had agreed to
withdraw. Then, all that matters is that you had said a 'yes.' In this case the
lender, who has sued you for the debt, indeed holds an upper hand.
The source of
income really matters
There are various
circumstances where your money cannot be touched by the creditors legally. Say,
the social security you receive in the old age or in the case of some
disability. Once you know that the creditors are about to withdraw the money
from the bank, immediately informed the bank and the creditors regarding your
source of income. If they yet take out money from that amount, you can use the Debt Defense services.
Consult YourLegalLegUp.com
YourLegalLegUp.com
was founded in 2007 as a way to get more help to more consumers being harassed
or sued by debt collectors—more cost-effectively. Make sure you talk
very politely with the lender and handle the matter as calmly as possible.
