Creditors and Bankruptcy/being sued by discover

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Expert: Michael Brotherton - 1/7/2009


Question
I had already ask what could my boyfriend do since he was being sued.MY question now he had talked to the the attorney that is suing him.its was a collections agency and they told him that it was to late for him to set up payment plan.but he could pay a lump sum of 5,500 or 6,000. to settle out of court.He owe discover bank 8,755.29...we live in the state of California and he was thinking about filing bankruptcy.But a friend told him it takes a long time and he go to court in a week or two.what can he do now???

Answer
Your friend has no clue. If you can complete the paperwork for BK and get it filed the suit will be dismissed and no further action can be taken against your friend. Once they receive notice from the US Bankruptcy courts it is over. It takes a while for them to get a judgment and he may be able to delay the suit for 30 days or so by writing tthe courts and asking them for an extension of time in order to seek counsel. Also, once he makes the creditor aware he has an attorney they must cease collection or talk to his attorney to verify a bankruptcy is in process. He still has time.

Tell him to do what he has to do.

Creditors and Bankruptcy

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Michael Brotherton

Expertise

Consumer/Debtor Rights Advocate. Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years. We are well versed in Loss Mitigation practices and the legal collection process. We have helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com. We actively promote Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY. Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be. Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems. www.financialemergency.com (copy and paste in browser).

Experience

28 years in financial services industry as a loan officer and debt collctor. Developed bankruptcy and loss prevention manual for large finance company for manager training. 15 years as a debt counselor and consumer advocate.

Education/Credentials
Veterans sponsored OJT Manager Candidate Scool for AVCO Financial Services, Keystones to Management for ITT Financial Services, Certified Finance Management for Associates Financial Services.

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