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My boyfriend received a civil summons regarding an unpaid judgment from 2003 (initially with Wachovia/Wells Fargo, but bought last year by a company here in NC). Can anyone give any insight on what can be expected from this? Is it possible for this to be settled for less than the judgment amount? Any help would be appreciated.
Civil summons for unpaid judgment
Welcome to the forums!!!
I think it would be better for you to contact with the company to whom your account has been assigned and try to settle with them. You may also take help from an experienced attorney in this regard.
Thanks so much for the welcome!
I appreciate the feedback. It's a little overwhelming and scary to get something like this dropped on us.
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Well, depending on your debt to incmoe ratio and how many cards you have or the outstanding balance of these cards If you don't use the card it can have a negative reflect on your credit report.Basically, it's a game that you have to play.you can't use it to much but than you can't use it to little.You have to pay it off fast but not to fast to establish more or better credit history.So to answer your question yes it is in good standing for now but if you take too long to use it, it can a bad thing.Credit is established and improved through use and paying it off.
You can settle the credit account, if it is an unsecured one. However, the current of your credit account must give a consent to your settlement offer.
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If the account is yours, the cedrit card company in most cases will win the lawsuit and obtain a judgment against you from the court. Through the judgment, the court orders you to pay off cedrit card bills. The judgment order gives your cedrit card company the right to seize funds out of your bank account, garnish your wages and a host of other collection actions depending on your state. Some states such as Texas, do not allow wage garnishment unless it is the only way out for a cedritor to execute a judgment. States which do not allow garnishment may seize your bank accounts (also joint accounts) and sell off non-exempt property or place a lien on your property. However, such states cannot initiate a forced sale of your primary residence. In community property states like Texas, if you are sued for cedrit card debts, your cedritor can seize joint marital property or place a lien against it even though your spouse may not have her name on the debt account.Source: bankdebt.org