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Thread: Lawsuit

  1. #1

    Default Lawsuit

    I had a thriving business but had some serious health problems and the business failed. I have had no income since Dec 2016 except for social security which I just started receiving. I haven't paid my mortgage since Mar 2017 and am close to foreclosure. I have no money.

    I just was served a summons from Calvary SPV who is suing me for just over 8K for an unpaid credit card bill. They are a debt collector. I have 20 days to respond to the summons.

    Does anybody have any idea what the best way to proceed with this is? I may end up filing bankruptcy but can't do that yet because of a family death where I am going to be receiving some money.

  2. #2
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    Why would filing bankruptcy stop the inheritance? If you file AFTER the inheritance, you'll be forced to use it to clear debts, right?

  3. #3

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    I'm not sure. I think it has to do with the fact that I will have money coming in down the road that the attorney couldn't file for bankruptcy right away. A relative contacted an attorney on this while I was in the hospital.

    It really doesn't affect my immediate concern which is how to deal with this summons right now in any case.

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    Quote Originally Posted by billbenson View Post
    It really doesn't affect my immediate concern which is how to deal with this summons right now in any case.
    Calvary SPV i8s a debt collector. They buy debt for pennies on the dollar and then try and collect what they can.

    I believe the worst that can happen is wage garnishment. If you have no wages, then they can't take it out of your paycheck. But down the line that could bite you.
    I would try and head off the court date with a phone call and maybe reach some sort of agreement.

    They can't get blood from a stone. Even if they win they still get nothing except a ruling to maybe get something later.

    The worst thing you can do is ignore it and just let them do whatever they want like put a lien on your future wages and income for the full amount, fees, interest and all.

  5. #5

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    I'm more concerned about the house. It may go into foreclosure anyway, but I am trying to stave that one off. The house is in both my wife (separated, talking divorce) and my name. I may be able to keep the house, but that is for a different thread. I really don't want this hanging over me in any case. I also have a lot of other debt out there, so I am trying to get a feel for this should other people try to sue me.

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    I'm spit balling here with no actual legal knowledge of how it works in your state and specific situation, but I don't think anyone can put a lien on your home unless it's a debt for home repairs or services specific to the house.

    However a court order can attach your future earnings/paychecks/income. That usually happens when you aren't there to represent yourself.

    Hopefully David will chime in as you really need some advice from a professional here.

    You should also look into local legal help. Most cities have some kind of free legal assistance that you can take advantage of to at least ask questions,.

  7. #7

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    The other thing on this one Harold, is I do intend to go back and start a business again (that will be a different thread). I also have some money in the bank $4k or so, as well as $1800 per month of social security income. I don't want any of that to be touched by creditors. I don't know if that will be possible or not. I'm probably going to need an attorney on this in the end, but am just trying to see what the best way to proceed for now is...

  8. #8
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    Can you file for unemployment / government benefits (EBT etc). Might be a good thing to look into while you're so in the hole.

  9. #9

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    I have EBT. Unemployment doesn't work because they average your income for the last several years. I really haven't had any income. I'm not sure how my income during self employment plays into this, but it may be going back to far to have an affect.

  10. #10
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    Quote Originally Posted by billbenson View Post
    I have EBT. Unemployment doesn't work because they average your income for the last several years. I really haven't had any income. I'm not sure how my income during self employment plays into this, but it may be going back to far to have an affect.
    Why not give it a try? Im sure they can help you work something out

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