What happens after a default?

What happens after a default?

Once a default notice has been issued, the debt can be passed or sold to a debt collector. You may then start receiving letters and phone calls from the debt collector to chase up on the debt, and payments would need to be made to the debt collector rather than the original creditor.

What happens when a loan company sues you?

filing for divorce online

When you respond or “answer” the lawsuit, the debt collector will have to prove to the court that the debt is valid and that you owe the debt. If you ignore a court action, it’s likely that a judgment will be entered against you for the amount the creditor or debt collector claims you owe.30 jan. 2017

What are good reasons to sue?

Top 6 Reasons to SueFor Monetary Compensation. You can litigate against an entity who has committed some negligent action through which you suffer an injury. For Protecting Your Property. For Replacing a Trustee. For Getting a Divorce. For Enforcing the Terms of a Contract. For Discrimination and Harassment.