Legal Question in Credit and Debt Law in California
big amount of debt
i have a big amount of debt and they asked me to give them all the titles of my properties for their security purposes.i now cannot afford to pay them anymore. my properties still doesnt amount to my total debts. they told me that they will get this to court. i am very worried and afraid. i am willing to pay my debts but i cannot afford to pay them all at once. i could only pay a certain amount on a monthly basis. what should i do?i am afraid that i might go to jail. i dont know any laws regarding this matter. please help.
1 Answer from Attorneys
Re: big amount of debt
Debtor's prison was abolished about a century ago, so you don't have to worry about that.
You should make arrangements to meet with an attorney in your area immediately, and bring all of the relevant documents -- especially concerning the real estate -- with you.
Good luck!
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