Legal Question in Credit and Debt Law in Virginia

Debt Collections/Legal Procedure

I am currently enrolled in a debt consolidation program. I am concerned that since my debt hasn't been paid in nearly 10 months (due to the process of the consolidation company) that I will eventually be sued for this. If a collection agency chooses to sue me, the summons would be sent to the consolidation company, not me. How would I receive this, and if I did not, what is my responsibility? Also, if I am sued, would I be required to forfeit my engagement ring even though it was not purchased by me using any of my credit in question?

Asked on 8/08/08, 6:48 pm

2 Answers from Attorneys

Michael Hendrickson Law Office Michael E. Hendrickson

Re: Debt Collections/Legal Procedure

You will not have to forfeit your engagemnt ring under any circumstances. However, if you're sued,

the suer will have to serve you with the papers at your current address and not a debt consolidation company who may be ostensibly acting in your behalf with respect to these matters.

Read more
Answered on 8/09/08, 12:47 am
Robert B. Walker Law Office of Robert B. Walker

Re: Debt Collections/Legal Procedure

You do not have to "forfeit" your ring, but if a creditor gets a judgment against you, it may be able to be taken and sold in order to satisfy the judgment.

Read more
Answered on 8/09/08, 10:36 am

Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Virginia