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Sent letter from lawyer
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Posted by NeedHeloPlease
(63.185.105.76) on March 17, 2004 at 22:00:18:
Hello, I have a delinquet account. Recently I was sent a letter from a lawyer saying that if I do not reach a payment agreement with them, their client (creditor) will seek remedy through arbitration. (however the letter states that the firm is not licensed to practice law in my state and will obtain local counsel to enforce any judgement)
My questions are these:
1. Is this arbitration, or a threat of arbitrtation.
2. If any judgement is reached, what can said creditor do to recover judgement? ( i do not have a bank account, I own no car, in fact, i have nothing in my name)
thanks.
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