What happens when someone is being sued over unpaid collections?
In: Other
It depends, among other things, on jurisdiction, on the amount owed and on the nature of debt. But if it goes to court and you lose, one or more of the following may apply:
* The court may order the bank to freeze your account until you pay
* The court may order the bank to remove funds from your account
* The court may order your employee to transfer part of your salary into a downpayment account.
* Debt collectors may go to your house and take goods (including the house itself) so that they can be auctioned off to pay.
* You may go to jail.
* The creditor may just have to deal with the loss.
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