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Citation to Discover Assets

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A

Angntone

Guest
i recently recieved a notice of citation to discover assets on a judgement that was entered against me almost three years ago on a ten year old credit card debt.

i live in the state of illinois and am wondering if they can put a lein on my house. i have contacted the collector and offered $1500 on the total sum of $4,285.79 to settle and they declined sort of leaving things in the air. is there a rule of thumb as to a reasonable percentage acceptable?
 


J

JasonRT

Guest
Dear Angntone,

Yes, they can file a lien against your house. You are also required to comply with the discovery request, it is a subpoena, if you do not comply a bench warrant will be issued for your arrest.

You don't have much hope of getting a discount on this bill. The company has a judgment against you - they know that they can levy on your assets until they collect the full balance - what is their incentive to settle?

[email protected]
 
J

JasonRT

Guest
Hello IAAL,

Good to hear from you too. The move was not what you would call stress free - with a moving company ripping me off regardless of what our contract said from beginning to end, some defects in my new house and (if you can believe this) 6,000 square feet of commercial office space that has not ONE telephone jack.

BUT - I now have plenty of litigation that I am passionate about (the movers, the previous owner of this house, and the commercial RE broker) to keep me personally busy for the next couple of months :).

Everything is on track now though. Just enjoying the constant airport hassels going between my offices here and in California. How's everything going for you?


[email protected]
 

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