Legal Question in Credit and Debt Law in Indiana

we had a loan that for financial reasons could not pay,on our credit history it says that the loan company closed the account and wrote it off as bad profit/loss etc.its not showing it as a collection but we are getting sued for the amount by an attorney who I dont know bought the account or they want to garnish our checks and im wondering how this is legal?we cant afford an attorney and we go to court next there anything we can do to stop this?

Asked on 5/30/19, 6:22 pm

1 Answer from Attorneys

Kenneth Wilk Rubino Ruman Crosmer & Polen

The write off of your loan is a tax matter for the creditor. It doesn’t mean that you don’t owe the money.

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Answered on 5/31/19, 8:29 pm

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