Being hounded by creditors calling you and sending emails and letters, can be very uncomfortable. Often, people being sued do nothing, and the debt remains unchallenged. The creditors go to court and obtain a judgment, which is good for ten years. A judgment can then be renewed for another ten years.
You should challenge any debt if you believe you do not owe it, or if the interest and charges seem too high. It may be advantageous to have an attorney explain your rights. Even if you do owe the debt, you, or an attorney, may be able to negotiate and settle for a fairer amount.
You have certain rights with regards to debts in North Carolina. A debt collector in this state cannot garnish your wages, except for priority debts such as child support, taxes, student loans, or certain civil judgments.
If you only have one debt, or the amounts of your debts are rather low, you may not want to file for personal bankruptcy. You, or an attorney, can negotiate a settlement, or litigate the debt collection attempt in court. You may even be judgment-proof, meaning that even if the creditor gets a judgment against you, there is nothing for them to take. If that is the case, you can wait to be served with a Notice of Right to Have Exemptions (monetary amounts you are allowed to keep in certain items, such as your car and household goods.) You must fill this form out within 20 days of receiving it, file it with the Clerk of Court, and mail a copy to your judgment creditor.
If a debt collector calls you at odd hours, at work, or when you have requested they not contact you, you have rights. You cannot be harassed, verbally abused, called names, or threatened for owing a debt. You should absolutely seek legal help if this occurs.
If you need help dealing with your debts, it may be beneficial to speak to an attorney to find out your rights. We offer a free consultation. Make an appointment now!