Debt Collection Lawsuits Against Retirees

Parents constantly worry about the various kinds of miscreants who might lure children into harm’s way, from old-fashioned strangers with candy at the playground to Roblox buddies who are decades older than they say they are as they hide behind their friendly avatars. In time, those children will worry about the assortment of villains who scam elderly people out of their money, from dubious investment schemes to love-bombing paramours on senior dating sites. In middle age, though, your worst nightmare is the creditors to whom you acknowledge, at least privately, that you owe money, but you have no means to pay it, at least not now. Dodging communications from creditors that you know you owe money to is somehow even more stressful than worrying about your parents and your children and all the people who wish them ill. You look forward to finishing the rat race of living paycheck to paycheck when you retire, and not constantly worrying about getting enough money to pay the next bill, but the bills will not suddenly vanish just because you are on a fixed income. Debt collectors can even sue you after you retire for debts you racked up while you were working. If you are retired and debt collectors are threatening to sue you, contact a Philadelphia debt relief lawyer.

Are Retirees Judgment Proof?

Making the minimum payments on your credit cards is hard when you are working, but it is even harder when you are retired. If you don’t pay your credit card bills, creditors can charge you late fees, and eventually they can sue you. If the creditor wins the lawsuit, or if you don’t respond to it and the court issues a default ruling in favor of the creditor, the court can take the money directly out of your bank account or seize items of property to satisfy the debt. This is nightmarish enough when you are working, and you have a paycheck, however meager, coming in next month, and if push comes to shove, you can supplement your employment income with gigs, but it is worse when you are retired and have only a fixed income to sustain you.

The good news is that, even if a creditor wins a debt collection lawsuit against you and requests an order to garnish your bank accounts, they cannot take much. The law limits the amounts that creditors can garnish. Furthermore, debt collection lawsuits never give creditors the right to redirect your Social Security check to themselves.

Exercise Your Rights by Responding to the Creditor’s Lawsuit

You might want to ignore a debt collection lawsuit because you think a ruling in favor of the creditor is inevitable, but this is a mistake. You should respond to the lawsuit, so this way you have a chance to tell the judge your side of the story and to describe your financial hardship, even if it does not lead to total debt forgiveness.

Contact CONSUMERLAWPA.com About Debt Collection Lawsuits

A Philadelphia consumer law attorney can help you if you are retired and facing debt collection lawsuits.  Contact CONSUMERLAWPA.com to set up a free, confidential consultation.

Source:

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