Negotiate a Debt Settlement

Debt Settlement?

What would happen if the creditor rejects the offer from debt Settlement Company regarding about my credit cards debt? Will I facing a law suit?

Public Comments

1. The creditor would retain all the same rights it had before.
2. The creditor doesnt have to accept a settlement offer. They still have the right to pursue collecting the debt even if it means a law suit.
3. They could take you to court. It depends on how long you have owed for. This has also happened to me. My credit counseling could not reach an agreement with the CC companies and I started getting summonses to go to court. I owed a lot ( after going to court 4x in one year) so I filed for bankruptcy and eventually the summons stopped coming. What I would do 1st though is cancel your credit counseling if it is not working and call the CC companies on your own to work out a payment plan. If they don't work with you than I would file for bankruptcy because they will not go away. I have had my check garnished it is no fun. People might think your a scumbag for filing but who cares about them it doesn't affect them. You have to what's best for you. Good Luck
4. They can file a judgement, but they can't if they can't validate the debt. Ask them to validate the debt and get everything in writing creditinfocenter com