There are a number of options. Even though, they filed a lawsuit against you, you may be able to set up a payment plan with them to pay down the debt. If this is not feasible for you, you may attempt to defend against the litigation. If you lose the civil suit or if you want to avoid a future garnishment, you should IMMEDIATELY contact an experienced bankruptcy to evaluate a possible bankruptcy.
An experienced bankruptcy attorney will be able to provide you information on how long the litigation process will take before the creditor will be able to garnish your wages, or bank accounts informed by both the civil procedure in Illinois for civil suits as well as from general experience.
Based upon your level of income, the kinds of assets you have, and the amount of debt that you have, an experienced bankruptcy attorney will be able to explain to you whether bankruptcy is the right path.
I cannot emphasize enough how important it is for you to speak with an attorney in your state to discuss your options.
I hope this information is helpful.
Parker Evan Bornmann, Esq
Contact me directly at 480-833-8000 for a free (1 Hour) consultation. I have law offices conveniently located in Mesa, Glendale, and Tucson, Arizona. You and I do not have an attorney-client relationship formed by our communications on this website. Advice given by me on this website is general advice based on partial information. You should not rely on any advice given without first hiring a lawyer in the area where the case is pending, and providing that lawyer with full information. http://www.bankruptcy-az.com
There is so little information here it is hard to say what you best option would be. 1) you could file bankruptcy to discharge the debt but income and assets comes into play with that 2) you could try to settle the debt with payments 3) you could defend against the lawsuit.
The response given is not intended to create, nor does it create an ongoing duty to respond to questions. The response does not form an attorney-client relationship, nor is it intended to be anything other than the educated opinion of the author. It should not be relied upon as legal advice. The response given is based upon the limited facts provided by the person asking the question. To the extent additional or different facts exist, the response might possibly change. Attorney is licensed to practice law only in the State of Illinois. Responses are answers to general legal questions and the receiver of such question should consult a local attorney for specific answers to questions.