legal  loans


Question by  mike50 (53)

Is it worthwhile for a debt collector to sue?


Answer by  Roland27 (16334)

Most of the time it's not actually worth it. By the time the debt gets to that point they have already lost money on the claim because they've had to put so much time and effort into it. However, when they do take you to court they not only ask for that money but ALSO money for their court fees.


Answer by  John (9008)

It depends. If you have assets to seize, or a paycheck to garnish, it can be worth their while to sue. Keep in mind that, in most states and for most debts, the costs of the lawsuit will actually have to be paid by the debtor. As such, if you have property or a paycheck, it is low-risk.


Answer by  tamarawilhite (17883)

Those who are owed money typically will not sue for amounts under $1000 for months, for amounts under $500 for at least a year.


Answer by  MarkWatrous (729)

Yes, but you will have to cease pursuit as the debt ages to that particular states' Statute of Limitations. Decline pursuit as your costs of collection increase.

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