Legal Question in Credit and Debt Law in Missouri
lost job 3 yrs ago exhausted all resources, retirment, savings etc..Have a lot of CC debt, two accounts I made (what I thought) was a payment plan last DEC. and have paid the payment on time each month. Apparently, it was too little and the cc co turned me over to a law firm for collection of full amount or to make some other payment plan, which neither I can afford. I have talked to debt counselor who said once they saw our stats they cannot assist, we do not have enough coming in each month. I have an appt. with an attorney about bankrupcy in 2 weeks the problem is I push this lawer/collection agency off until Friday - a week before my appt. with a lawyer, he said that is the last day and I have to pay or he will sue. What do I tell him next Friday since I have not met with lawyer about bankrupcy. I dont want to go to court and be sued. Any options or advise?
1 Answer from Attorneys
You should inform the collection attorney as to what bankruptcy attorney you are scheduled to see. Many debtors say they are going to fiel for bankruptcy, but few do. If you have th ename and date of the appointment, the collection atotrney may know that you are more serious than the average debtor. They might even press theri client to take a lesser monthly payment than what you were previously paying, if you execute apayment agreement with a contingent consent judgment attached.
Once you have filed for bankruptcy, the CC company may get nothing. A collection attorney can sometimes have sway to convince their client to get something rather than nothing. If they beleive you are serious about bankruptdy, they will be hesitant to file a law suit that will get suspended.
Good luck
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