i can still only aford to make small payments which i want to pay the debt off
Debt Settlement Strategies
Free Debt Settlement Strategies
19-Dec-2009
19-Dec-2009
i can still only aford to make small payments which i want to pay the debt off
Even if in the process of going to court, you can always settle until a verdict is made. If you’re serious about paying it off.
Just wear a short skirt and you’ll be fine.
If you are being sued (have received a summons) then you’re probably too far gone at this point. Depending upon what state you live when those suing you win their case (and since you can’t pay they will) they can demand that your wages be garnished until the debt is paid in full or the judge may require you to sell off property in order to come up with payment in full, I suggest you consult a lawery ASAP
all that you need to do is contact the lawyers office and make arrangement for a minimum payment. any reasonable payment will be taken for the fact that if it is not you can use it against them in court. judges don’t like to hear that you offered to make payments according to what you could afford and lawyers refused to take it. once a deal is reached you normally have to sign a form that says you are accepting a judgement against you under the terms you have reached with the lawyer. this is so if you ever default on the payments they automatically win when it goes to court and you now have to pay all legal fees and court costs. it will be in the agreement that you sign when it comes to your door. you will still get a summons to appeat, but if you have made the agreement you don’t need to appear, since the judgement will automatically go in according to your deal.
not all lawyers will seek the judgement, but don’t be surprised if it happens. I work for a bank and see this kind of thing often. I also went through it once when I got a divorce and I made the settlement about 6 weeks before the court date, contact the lawyer ASAP or you may miss you one chance to settle this without going to court.
You can settle anytime up until you go to court. However, when it gets to this point they will like to play hardball and will want you to pay it off at once, or at most a few payments.
Because they know if they win they will probably get a court order to garnish your wages, or freeze your bank account. This guarantees them they will get their money. If you just say you will pay off in small amounts they are thinking you will do that for 1 or 2 months and the whole process will start again.
It never hurts to try, but your chances are better the fewer payments it would be. That is if you are telling them you will pay it off in 5 years the chances of that are a lot less then if you said you can pay it off in 3 months.
Usually the banks and their attorneys will want payments approximating what they could otherwise get by garnishing your wages. You may be able to do marginally better than that if you come to an agreement without the need for court intervention because you save them the expenses of doing so.