polterfish Posted July 17, 2007 Report Share Posted July 17, 2007 I'm new and addicted to this site. I owe Chase $30k that I cannot pay due to medical issues. Got letter from Chase legal department, what now?!?!? Link to comment Share on other sites More sharing options...
Methuss Posted July 17, 2007 Report Share Posted July 17, 2007 As long as the lawyer actually works for Chase and isn't outside counsel, what he did is perfectly legal. Lawyers acting on behalf of a creditor that are not actually employed directly by the creditor are debt collectors under the law.As for what you can do about it, not much. If you owe the money and can't pay it you have 2 choices:1. Let them sue you and then at the asset hearing you'll probably be declared judgment proof. That means you're still liable to pay, but they can't take anything now. They can pull you in once a year until the statute of limitations expires on the judgment (which can be up to 20 years) to make you testify on if you still have no assets they can take to pay your obligation. Social Security and disability benefits are safe. By law they can't touch it.2. File bankruptcy. If you are so much in debt over medical bills that you can't pay this account, you have serious financial troubles. If you're a homeowner you can go into chapter 13 which let you keep your house and car with no problem. Unsecured lenders rarely get anything in chapter 13 as it all goes to secured lenders first. Link to comment Share on other sites More sharing options...
polterfish Posted July 17, 2007 Author Report Share Posted July 17, 2007 It is inside counsel for Chase. Is there anything I can do to delay a lawsuit? Link to comment Share on other sites More sharing options...
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