I was just served court papers – summons and complaint from creditor lawsuit

When you receive a Summons and Complaint from a creditor, it’s a good idea to seek legal counsel so that you can “answer” the complaint.  When you “answer” a complaint this preserves your rights in court to challenge the underlying liability from the creditor.  Most times, if you have taken out the loan initially, this will ultimately end against you, but in answering, you gain valuable time to file for bankruptcy or to force the creditor through the expense of a trial, which often leads to a settlement.  The courts do not like to waste time on trials for creditor issues and will force settlement talks to drag on, sometimes creating a better ground for settling for the debtor.  This works best when the debtor has a lump sum ready to offer in settlement.  I have seen settlements run the gammut of anywhere from 10 – 80 percent of the underlying debt, but a typical settlement is about 30 – 60 percent, if the funds are available to settle.  This process can be used to end one creditor;  it can be used to gain time while putting other affairs in order or it can be used to put your affairs in order before a bankruptcy.  So when you get a Summons and Complaint, call us and we will help you by filing an “answer,” to preserve your rights.

Call us today.  Todd Courser 810-245-0813