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Business Debt/another warrent in debt question

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Expert: - 7/4/2008


Question
I received a warrent in debt in the mail for 5,000.00 furniture bill I got in 2004 that started off as 1500.00.  I contacted the company last month and set up arrangements to pay them 30.00 a month because that is all I can afford right now and I wanted to make an attempt to pay them. ( I sent them a money order)

Now I receive this notice in the mail from them because of course now they have my address....
They already have a judgement against me so what does this warrent in debt mean and what does it do?  What can happen to me or my finances?

Answer
Dear Regina:
Thank you for your inquiry. First of all, I strongly recommend you seek legal counsel as this matter has apparently already gone that direction. Here is the legal definition of a Warrant in Debt -
"A warrant in debt is a summons to a defendant to appear in court because they are being sued for a debt. For example, in Virginia’s General District Court, the most common means to initiate a claim is the Summons for Warrant in Debt. However, the warrant in debt provides only limited information and therefore is a notice-based pleading. Along with the bill of particulars, the warrant in debt makes the pleading fact-based. A warrant in debt is the initial filing to start a garnishment proceeding in some jurisdictions."
This item can and likely will affect your financial situation, so you need to address it promptly. If you need to find an attorney in your area you can visit www.findlaw.com or visit www.lawhelp.org for low or no cost legal counsel.
I wish you the best in resolving this matter.

Respectfully,

Christine Janklow

Business Debt

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Christine Janklow

Expertise

As President of SettleSource,Inc. a business debt settlement firm, I invite you to inquire about all aspects of business debt solutions to best determine which may be most appropriate. If you have questions such as: What is debt settlement and how process provide debt relief to my business? What options are available to deal with my business debts? Is it possible for a business owner to negotiate their own settlements? Why is debt settlement preferable to filing a bankruptcy or debt consolidation? Why are creditors willing to provide settlements to a business? How will settling debts affect credit scores? or How to rebuild a business after debt is eliminated. Please ask it now! For more information regarding how debt settlement can help your business, please visit www.SettleSource.com and place your inquiry. Mention All Experts to have a confidential no cost consultation with Christine. If this is your business situation time may play a very important factor in getting matters resolved proactively before they have negative affects on the business.

Experience

My expertise is specific to providing business solutions that will have profound positive impacts on the financial health of businesses. I have 25 years experience as an entrepreneur and have developed national sales programs; strategic alliances; product development; marketing programs; business and turnaround plans and debt settlement programs all providing methods to improve the financial outlook for large and small businesses. In the area of commercial debt settlement I have over 10 years experience working with large and medium corporations and closely held businesses to enable successful debt reduction and turnaround. I am a professional debt arbitrator and have negotiated with major banking institutions as well as vendors, suppliers and other trade creditors.

Organizations
Provisors;Turnaround Management Association; Los Angeles area

Publications
Accounting Today; Web CPA; National Restauarant Association;Los Angeles Daily News; Today Magazine Monthly series of business articles entitled "Brand News."

Education/Credentials
Bachelor of Business Administration; Associate of Arts Merchandising

Past/Present Clients
American Airlines, American Express, Safeway Inc., New York Life, consumer products manufacturers; retailers, food service industry and other small businesses and service providers.

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