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Bank of america is suing me card debt of $7k.. wanted to see

Customer Question
hi.. bank of america is...
hi.. bank of america is suing me for credit card debt of $7k..
wanted to see what my options are?
Submitted: 2 years ago.Category: Bankruptcy Law
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Customer reply replied 2 years ago
this is in texas, by the way. i do not own a home. would also like to know the approximate costs of each option available to me. many thanks!
Answered in 6 minutes by:
8/7/2015
Bankruptcy Lawyer: Roger, Attorney replied 2 years ago
Roger
Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31,875
Experience: BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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Hi - my name is ***** ***** I'll be glad to assist.

If you were to file bankruptcy, you should be able to have the debt discharged as an unsecured debt.....and not pay anything (or very little) based on your income. Thus, if you want to avoid the debt, that's likely the best way to approach it.

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Bankruptcy Lawyer: Roger, Attorney replied 2 years ago

However, if you would like to avoid bankruptcy, you may want to try and offer the creditor a settlement and see if you can resolve the matter without a legal action. Generally, a creditor will accept a lump sum offer of half of the debt. There is no obligation for the lender to accept such an offer, but it generally will do just that if the offer is reasonable.

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Customer reply replied 2 years ago
i don't need to hire an attorney to negotiate with them? just offer them about $3k? to the bank directly, or to their lawyers?
Bankruptcy Lawyer: Roger, Attorney replied 2 years ago

No, there's not much of a need to hire a lawyer. If you tell the creditor your offer and that you'll be forced to file bankruptcy if they proceed, that's about as much as a lawyer would do for you.

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Roger
Roger
Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 31,875
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Experience: BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters

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