I own a home, car, or other valuable asset worth more than $1,000 that is not exempt.

Some common defenses to debt collection lawsuits:

• You paid the debt
• The creditor waited too long to sue
• Your repossessed vehicle was sold in a commercially unreasonable manner
• The debt was discharged in bankruptcy
• There is a problem with the contract

For more information, read the article "Defenses in a Debt Collection Case."