I don't have equity in my house nor a savings account. So, if a judgement was filed against me, would the loan company or collection agency give me a chance to repay deficiency in installments? I would be very willing to pay because I don't want my check garnished.
2006-08-20 11:25:53 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
You should check the exemption laws in your state to see if they can even garnish your wages. Many states do not allow it.
If what you have is exempt, they can take nothing.
If your state allows wage garnishment and they have a judgment against you, you can try to work out a deal with the company that sued you. Just be sure that any deal you work out is included in your case file.
2006-08-21 00:13:23 · answer #1 · answered by echo 7 · 0⤊ 0⤋
Yes the loan company or collection agency would always love to work out an amicable settlement or repayment proposals with their borrowers
SInce you mentioned judgement had been recorded agst it, therefore its wise that you work out the repayment proposal asap to avoid execution proceedings eg: garnishee of your paycheck.
Good luck and God Bless
2006-08-25 04:43:09 · answer #2 · answered by angelinecja 2 · 0⤊ 0⤋
top now, in case you nonetheless owe money on the vehicle, the vehicle belongs to the financial enterprise and not you. although in case you % to sell the vehicle, you're able to desire to ascertain precisely what the pay off quantity is on the interior maximum loan and enable the financial enterprise comprehend you're finding to sell the vehicle. once you acquire the money for merchandising the vehicle, you will might desire to pay off the financial enterprise and that they'll launch the lein on the call so it somewhat is despatched to the recent proprietors. yet another decision may well be to have the steadiness of the interior maximum loan be utilized and further onto a sparkling own loan for yet another vehicle even though it somewhat is a lot greater desirable to pay this own loan off entirely and get a sparkling one than to characteristic onto an exsisting one. good success
2016-10-02 08:16:12 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You have to negotiate that with the bank you owe the money to. Usually, yes. GIve them a call and find out.
2006-08-20 11:33:13 · answer #4 · answered by tieia 4 · 0⤊ 0⤋
You can negotiate payments with just about any agency, Congratulations on accepting your responsibility.
2006-08-28 05:15:03 · answer #5 · answered by Jenyfer C 5 · 0⤊ 0⤋
Yes,they do not want to take the loss.
2006-08-24 11:09:40 · answer #6 · answered by Rather be dead than red... 6 · 0⤊ 0⤋
I am sure they will take whatever you give them
2006-08-20 14:07:35 · answer #7 · answered by Anonymous · 0⤊ 0⤋