If I enter into debt settlement and stop paying my credit card bills will I be subject to judgement in civil court? I see a list of names in our local paper every week of creditors sseking payment in civil court and their names are published in the local paper.

[Willie]

Hello Mark!

Your creditors have every right to sue you because it is their money afterall. However, it could take years before a creditor decides to take legal action. These accounts would usually charge off before they go to court and in many cases, collection agencies are more lenient to negotiate and give better settlement offers because at that point, they have realized that they are probably not going to get any money back; therefore, it is better to get some than none.

The key to settlement is having funds available. Remember that before making the decision to go with debt settlement. It is a great option, but you have to commit yourself to save money constantly to have funds available when the offers come around. If you cannot make the commitment, then it is best not to do so. If you find yourself a good debt negotiation company and you have funds available, you can probably save 50 to 60 percent by only paying back 40 to 50 percent of your debt.

Let's say in a worst case scenerio, if you are sued by your creditor, if you have funds available, they will most definitely negotiate and offer you to pay a lesser amount than the original amount owed on the debt. So again, the key is to have funds available and have a good, reliable debt settlement company.

I hope this information helps! Does anyone have anything else to add?

If you have any other questions, please send them Mark. I am here to help everyone!