Legal Question in Credit and Debt Law in California

I’m being sued over a debt. Loan was charged off in 2020. Was served at home, plaintiff has requested a default judgment.

Would it be wise? to contact the law firm suing me to inquire about settling the debt?

I may have a source to pay it.

Or how should I handle this?

Asked on 3/15/23, 10:40 am

1 Answer from Attorneys

Yes, the charge-off is an accounting and tax matter, not a release of the debt. You should definitely try to settle the debt if you can, and immediately move to set aside the default if you can't reach agreement on paying the debt.

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Answered on 3/16/23, 2:28 pm

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