I don't know how to proceed. I don't even know what it means to "answer" the summons. I don't have any money to pay the loans either.
Please opt out as I am looking for advice. Thank you!
In order to "Answer" the summons you have to file a legal paper. They would have put the name of the parties and case number XXXXX the paper they served to you, so you use the same parties, court name, and case number. Then you deny everything and answer each of their allegations by denying. it only means that you are contesting the lawsuit against you. If you do not file this right away, they will get an automatic judgment against you.
Do you know if it's possible/realistic to think that I could work something out with the plaintiff for a considerably lower amount? Or do these collection agencies for private student loans look to collect the full amount?
I sincerely XXXXX XXXXX help. By "most of them will take what they can get and it never ends", does that mean if we offer to settle w/them for maybe $20000 rather than the $80k owed, will they keep seeking the remaining 60k? and if they do settle, can we request the loans be considered paid in full for credit reporting purposes?
What happens, if it is one of the underhanded collection agencies is--they will settle for the 20,000 in payments, but no matter how much you pay, the interest will keep adding on and on. As I said, it's said but true.
So I just want to make sure I understand what you mean: they can go thru this same process again in the future? Even if we agree to a settled amount, the agency can seek the remaining balance in the future?
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