Being Sued by Universal Lenders

[kklblue]

What is the name of your state (only U.S. law)? Minnesota

I took out a loan from Universal Lenders out of Wisconsin. I live in Minnesota. I was out of work for a period of time and defaulted. I have been trying to catch up on payments and was now served with papers today.

I owe the debt and expect to pay it.

I am suppose to appear in court in Sturgeon Bay Wisconsin on August 18. There is no way I can make it, I can't get the time of work, nor get there. Can anyone explain what I can expect to happen. How long do I have before they go after my paycheck and bank account.

The debt is for $1700 and after just starting back to work I don't have that amount available.

Has anyone attempted to negotiate with these people.

 

[Heir7]

What is the name of your state (only U.S. law)? Minnesota

I took out a loan from Universal Lenders out of Wisconsin. I live in Minnesota. I was out of work for a period of time and defaulted. I have been trying to catch up on payments and was now served with papers today.

I owe the debt and expect to pay it.

Have you contacted them and asked for a payment plan? They may still get a judgment against you, but if you get them to agree to accept a payment plan from you, and if you pay on time every month, they probably won't bother garnishing your wages, nor seizing your checking account. You will want to get the agreement in writing from them.

I am suppose to appear in court in Sturgeon Bay Wisconsin on August 18. There is no way I can make it, I can't get the time of work, nor get there.

Are they suing you in the right county? You may want to request change of venue. So that you could attend it and ask them for a payment plan in front of the judge.

Can anyone explain what I can expect to happen.

They will most likely get a default judgment on the 18th.


How long do I have before they go after my paycheck and bank account.

It depends upon how aggressive they are. It could happen very soon after that. But if you work out a payment plan with them, they probably won't do that. Just so you are aware, any money you leave in your checking account could be at risk very soon after they get the default judgment. It might make some sense to have enough cash on hand to pay for essential things like food, rent, transportation, etc. And remember when they garnish the checking account, your bank will also charge you fees for responding to the court order. Your account may go negative, and then your bank will charge you fees for that, plus fees for any checks you bounce.

The debt is for $1700 and after just starting back to work I don't have that amount available.

It will end up being more than $1700 because they will add court costs, attorney fees, and interest.

Has anyone attempted to negotiate with these people.

Not with these ones personally, but almost any of them are willing to work out some sort of payment plan. They will usually want it paid off within rather short amount of time.