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1st time being sued - need help please!

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1. Who is suing you?1st Franklin Financial (finance company)

2. For how much?$10,514.37

3. Who is the original creditor? 1st Franklin Financial

4. How do you know you are being sued?was served

5. How were you served? Were you served?served at home by sheriffs dept.

6. What was your correspondence (if any) with the people suing you before you think you were being sued?they sent me a certified letter telling me I had an amount due of $800.00(2 payments) due on the account

7. Where do you live?Georgia

8. When is the last time you paid on this account?August 2006

9. What is the status of your case (if anything has been opened)? You can find this by a) calling the court or B) looking it up online (many states have this information posted daily).I was served on Nov. 19, 2006 and have 30 days to file an answer or a default judgement will be entered against me.

10. Have you disputed the debt with the credit bureaus (both the original creditor and the collection agency?)no

11. Did you request debt validation before the suit was filed? If not, don't bother doing this now.

12. Does your summons require a response? (Look hard!) If you don't get a questionnaire with your summons, you are still probably required to answer it in writing. If you don't respond to the lawsuit notice you will lose automatically. In 99% of the cases, they will require you to answer the summons, and each point they are claiming. We need to know what the "charges" are. Please post what they are claiming. Did you receive an interrogatory (questionnaire) regarding the lawsuit? yes it requires an answer to avoid a default judement. It is a suit on a note in the amount of $10514.37. I did not receive any kind of interrogatory or questionnaire.

13. What evidence did they send with the summons? An affadavit? A statement from the OC? Anything else they attached as exhibits? no evidence

14. What is the SOL on the debt? To find out: 6 years

This is a strange/different situation.

This is a loan with a finance company secured by 2 vehicles. The finance company has the titles. The vehicles have not been repossessed and there has been no attempt made to repossess the vehicles. Also, the loan is in mine and my husbands names so they are suing both of us. Now the amount they are suing for is the full amount of the loan - we borrowed $10,000 in January and refinanced in July in order to skip a payment (trying to keep from sinking - it didn't work - we sunk anyway!) We had opened our own business in June of 2005 and we finally decided to close it down in October of this year. We were just getting further and further into debt. Now because of this we have also decided to file bankruptcy and have hired an attorney. However, I haven't been able to pay the attorney his full fee, and he won't file until I do. I hope to file BK7 before this actually goes to court but I would like to file an answer in case that does not happen. I need some advice in how to handle this because I feel that one of two things should haappen:

1. the vehicles are reposessed, sold, and we are sued for the difference


2. if we are sued and a judgement is granted then the vehicle titles should be released to us

the finance company is obviously not interested in the vehicles and I don't see how they can get the vehicles and the full amount of the loan in a judgement.

Any help in coming up with an answer to submit to the court would be greatly appreciated. I've had credit problems in the past, but this is the first time I've been sued and I'm kinda freaked out!

Thanks again!!

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Guest E. Normis Debtor

Though a security interest in the vehicle gives them some insurance, it does not limit their remedy.

They are entitled to receive from you a total of 10K+. If they obtain a judgment and seize other assets, and repossess the car, they would have to refund to you anything excess of the obligation.

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OK, your best bet is to get yourself to your BK atty ASAP. If you have a BK atty, they will usually charge and initial fee and roll the rest of their fee into the BK because the BK will pay them first and then your creditors.

The BK will stop the lawsuit. Even if you delayed and the judgment was granted, you could have the judgment vacated when you have your BK discharged. You are better off having the judgment never happen in the first place.

Get to your BK atty and get it filed and have your BK atty call the person that just served you with the suit informing him of the BK. Just to cover my tracks, I would then show up on court date and show the Judge the BK filing and state that there is a stay on collection of this debt. (Some lawyers fail to dismiss cases and you don't want to have to fight a default judgment...)

Oh, BTW, even if they get the judgment, they do not have to turn over the titles until the judgment is paid. It is still a secured debt.

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