Legal Question in Credit and Debt Law in Colorado

I am being sued by a Pay day loan company. I offered a settlement of the amount I owe and they refused. The amount I borrowed was 500.00 I was willing to pay 575.00 in two weeks. They are suing me for 1448.00 they refused my settlement and said min is 1028.00 within 30 days. I explained I don't have that. So are my chances better to file an answer and see the judge? or what can I do?

Asked on 3/31/16, 10:04 am

1 Answer from Attorneys

Stephen Harkess Colorado Legal Solutions

If you owe the money according to your contract then you will owe the entire amount. The judge won't negotiate with you. If the judgment is more than you can pay you may need to consider filing for bankruptcy protection.

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Answered on 3/31/16, 10:10 am

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