Summons to Court From Paragon Payday Loan Collectors
I have been receiving numerous calls from different people from a collection agency which state they are a law firm and have attorneys, but they are telling me I will be served with a summons if I do not resolve my debt with Paragon Loans. I called in a panic the first time because I do not want to go to court and do all that stuff, but they would not work with me on the payments that I can make. I am a single mom on a fixed budget, I tried to make an agreement with them but they would not accept it. Can they really take me to court for this?
Comments for Summons to Court From Paragon Payday Loan Collectors
Jun 10, 2010
your payday loan debt
by: Gerri & Mary
If you can't pay a debt you owe, the creditor or collector may decide to sue you. However, that doesn't mean it's the end of the world. Texas has some strong consumer credit protections, and those may prove to be helpful to you.
First, please make sure you at least read our free ebook, Debt Collection Answers, so you have an overview of your rights in dealing with this debt collector. (Keep in mind that debt collection law firms must follow the Fair Debt Collection Practices Act, just like any other collector.)
Also make sure you
take good notes of every conversation with a debt collector. You can use our Free Debt Collection Worksheet for that purpose. Pay close attention to what the collection agencies telling you. There are numerous reports of collection agencies making illegal threats, and if the debt collector does that to you, you can fight back. In addition, there have been a number of cases where payday lenders have illegally inflated debts and they certainly wouldn't want to see that happen to you.
Melissa, I would really encourage you go ahead and get a a free consultation with a bankruptcy attorney in your area. Even if you do not want to, or can't, file for bankruptcy, the attorney will be able to tell you what your options and rights are if the collection agency does go ahead with a lawsuit against you. In particular, I'd like you to ask the attorney whether you are judgment proof. If you are, that means there's nothing the collector could really go after if they did sue you. And that knowledge may give you some negotiating leverage in dealing with this debt collection law firm. I really believe it will give you some peace of mind in terms of understanding what options you have.
We hope this helps. Please let us know what the attorney has to say using the comments link below. We really hope you can find a way to put this behind you.Source: www.debtcollectionanswers.com
Category: Payday loans