Posted on
September 9, 2009
at
3:17 am
What does it mean to be in a debtors court?
Posted on
September 9, 2009
at
3:25 am
What it means to be in a debtors court...it means that your creditors has filed a lawsuit against you so they can collect on the debt that you seem to have refused to pay. A debtors court can give the creditors a judgment and that means that you'd be forced to pay - no matter what.
Posted on
September 9, 2009
at
3:28 am
The creditors run to the debtors court to obtain a judgment. It could be so that they'd have permission to garnish you wages, levy your bank account or put a lien on your property. If the debt was proven to be yours, that is. A suit filed against a consumer means that after collections have repeatedly contacted you about that debt - you were still unable to respond accordingly.
Posted on
September 9, 2009
at
3:31 am
If, for example, the creditors won that lawsuit against you in the debtors court -if judgment was entered against you, you would be notified by the court by mail. It will usually say that you have a month to begin making payments to the creditor.
ck Rep Points:
Posted on
September 9, 2009
at
3:47 am
Once that judgment from the debtors court is in effect your employer will keep 25 percent of your take-home pay until the judgment is satisfied, that or freeze your checking account, making it impossible for you to deposit or withdraw cash
Posted on
September 9, 2009
at
3:48 am
Can Chapter 13 bankruptcy be considered a debtors court?
Posted on
September 9, 2009
at
4:02 am
I'm not sure...but it's possible if it's a forced Chapter 13 bankruptcy..can somebody please verify?
Posted on
September 9, 2009
at
4:09 am
When an order to pay the creditors comes from the debtors court the consumer has several choices - pay the creditors however he/she can, via judgment, bankruptcy, and also via other debt relief options.
Posted on
September 9, 2009
at
4:11 am
However the consumer shouldn't have to wait for the creditors to pull him to the debtors court - especially when he/she can negotiate the debt and its payment terms by himself or with the help of credit counseling or debt settlement companies.
