I have been in a debt resolution program since 2007, I had a lady come to my door trying to subpoena me to court. What do I do?
I have been in a debt resolution program since 2007. I have paid one credit card off. I have one more for $20,000. I had a lady come to my door trying to subpoena me to court. What do I do?
Bills.com has relationships with well-respected financial services companies that offer our customers a variety of products, such as mortgage brokerage, debt settlement, and tax negotiation.
If you are enrolled with the Freedom Debt Relief (FDR) debt negotiation program and are a FDR client, you need to contact the company's Legal Accounts Resolution Unit (LARU) as soon as possible so that they can explain the legal process, how it can affect your goals in the FDR program, and what steps FDR can take toward resolving the debt and preventing this legal action from causing you additional problems. You can reach FDR’s Legal Accounts Resolution Unit by calling (800) 993-8950. If you are unable to call, you can e-mail lcs@freedomdebtrelief.com. FDR has experience helping clients in similar situations, and will almost certainly be able to work out a plan with your creditor to stop the lawsuit.
If you are not enrolled with FDR, you should contact the customer support staff with your debt resolution provider. They will help you reach your provider's legal department.
Before you call, read through any documents you have received pertaining to this lawsuit, and have the documents available when you call so you can provide the staff with any the information they need to begin working on this account.
I wish you the best of luck in resolving this debt, and hope that the information I have provided helps you Find. Learn. Save.
Best,
Bill
www.bills.com/
Dealing with debt
Debt is used to buy a home, pay for bills, buy a car, or pay for a college education. According to the NY Federal Reserve total household debt as of Q4 2023 was $17.503 trillion. Auto loan debt was $1.607 trillion and credit card was $1.129 trillion.
According to data gathered by Urban.org from a sample of credit reports, about 26% of people in the US have some kind of debt in collections. The median debt in collections is $1,739. Student loans and auto loans are common types of debt. Of people holding student debt, approximately 10% had student loans in collections. The national Auto/Retail debt delinquency rate was 4%.
Collection and delinquency rates vary by state. For example, in West Virginia, 15% have student loan debt. Of those holding student loan debt, 10% are in default. Auto/retail loan delinquency rate is 4%.
To maintain an excellent credit score it is vital to make timely payments. However, there are many circumstances that lead to late payments or debt in collections. The good news is that there are a lot of ways to deal with debt including debt consolidation and debt relief solutions.
