What are the chances being sued for an unpaid ACCOUNT

What are the chances being sued for an unpaid ACCOUNT

Problem: I have always been current on my accounts. But things changed after I lost my job in October 2010. I have not been able to make pa... 20:57

Problem:
I have always been current on my accounts. But things changed after I lost my job in October 2010. I have not been able to make payments on the Amex card and Chase card since. I planned to pay off my debts after securing a job. I said the same thing to my creditors also. But creditors refused to believe me. They have sent accounts to a third party collection agency. I have heard that the solar panels are quite aggressive people. They will file a lawsuit against me? What are the chances of being sued? I'm pretty scared. I live in Los Angeles and owe around $ 45,000 on the cards. My current credit score is approximately 525. Thanks for any information.

Solution:
Your chances of being sued are quite high. Collectors are not patient people. They want their money somehow. They will try various methods to collect money. Collectors will file a lawsuit against you when they lose the hope to collect money from you.
debt collectors will calculate the total owed money prior to filing the lawsuit against you. They will assess their chances of obtaining money by suing you. Lawsuits are expensive and so collectors do not want to waste any money if there is no chance to get money.
The debt collectors will evaluate your income and assets. They will check if you have a house or a car. They will also try to find out if you have funds in your checking account.
If you have some money in the checking account or have some equity in your home, then collectors will definitely file a lawsuit against you. They will do their best to secure a judgment against you. When collectors win them, they will garnish your checking account or put a lien on your home.
You must also consider your credit score apart from lawsuits. Your credit score is already in bad shape right now. Your score will drop further if you do not make any payments on the cards. This means that you will face enormous problems with getting a new loan or the future. Additionally, you can not even get a job despite having good work experience and high competence.
I would suggest you to assess your financial situation first. Evaluate how much you have to pay for each account. Then make a list of your assets and calculate the available funds in your account. Find out if you can pay back debts with budgeting. If not, then you need to get a job as early as possible. It will not be possible for you to get this mess without any income. reviews

You should contact the collection agency and explain your situation to them. Explain to them that you are trying your best to get a job. Try to negotiate an alternative payment plan with them. reviews

If collectors require payment in full, then you can take advantage of Los Angeles' debt to clear your debts. However, you should consider debt settlement as your last option. This is because the settlement will drop your score further.
Finally, if you can not get a job or qualify for debt settlement, then you can file bankruptcy. This debt relief option will help you pay your debts and avoid lawsuits Reviews & nbsp ..