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Debt Collector Summons

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fburke

Member
What is the name of your state (only U.S. law) Ma


I got a summons from a Debt collector for a defaulted unsecured loan of $27,000.00 with 10 days to response.

This is my debt, had some financial hard ships a few years ago and fell behind, the Original Bank would not work out a payment plan they were nasty (banking crisis) it was either all or nothing so I stopped trying to commutate with them.

Looks like they sold it do a debt collector, what should I do now? Should I contact them directly or get my own attorney?
They already banged my credit and this loan is unsecured, could they go after my home or car?

Could an attorney I hire negiosheite a settlement and a reasonable payment plan? I feel if I contact them since it’s in their best interest to get as much as they can it wouldn’t be advisable.
 


TigerD

Senior Member
What is the name of your state (only U.S. law) Ma


I got a summons from a Debt collector for a defaulted unsecured loan of $27,000.00 with 10 days to response.

This is my debt, had some financial hard ships a few years ago and fell behind, the Original Bank would not work out a payment plan they were nasty (banking crisis) it was either all or nothing so I stopped trying to commutate with them.

Looks like they sold it do a debt collector, what should I do now? Should I contact them directly or get my own attorney?
They already banged my credit and this loan is unsecured, could they go after my home or car?

Could an attorney I hire negiosheite a settlement and a reasonable payment plan? I feel if I contact them since it’s in their best interest to get as much as they can it wouldn’t be advisable.
1. Contacting them is pointless - you are being sued.
2. You have no defense - I didn't like the person on the phone is not a defense.
3. They will most likely only agree to a payment plan if you stipulate to judgment.

Really, there is almost no way out of this without a judgment. I think you are going to be shocked at how much the debt has grown with interest, legal fees, and court costs.

DC
 

single317dad

Senior Member
To address OP's remaining question, yes, debt collectors can (after a judgment is entered) seize your assets such as bank accounts and place liens on property.

Here is a site (commercial website, which is not usually a reference I provide, but this debt relief agensy's summary was much easier to understand than the actual wording of the law):

http://www.davelima.com/Blog/bid/35335/Massachusetts-Property-Exempt-From-Seizure

This is not in any way an endorsement of this agency's services; in fact, I highly recommend you DO NOT contact a debt relief agency.

Finally, the actual statute defining exempt assets:

https://malegislature.gov/Laws/GeneralLaws/PartIII/TitleII/Chapter235/Section34
 

fburke

Member
I am not trying to get out of this just trying to come to some reasonable terms or payment options..this is the 3rd collection agency to have this and the only one taking it this far....from the responses I sould prob hire a local attorney to cover my butt and make sure I do everything by the book ..I don't think I would want a judgement ..hopfully I can do somthing before that happens in writing
 

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