credit card judgment against me?

Question

a year ago i was seppareted from my wife, and i was unble to make the monthley payments on my credit card, and i tried to explian to the collection agency, and since then im still struggling to keep my house, that i rent, and keep my car, the collection has gone to a lawyer, who now wont except any of my offers, and has gone to a court. to get a judgment on me. what will hapeen? will i loose stuff? how can i fix this, the bill is almost 2000 dollars, i can only afford to pay 75 a month, but he wont except anything but the full amount,, ps... in the state where i lve, they can not garnish my wages, so will this just sit on my credit report? or will they come to my house and take my computer, and tv and stuff?

Answer 1

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Answer 2

It depends on the state as to what can happen. However, odds are they probably won't take your stuff... simply because the process of going through the courts to take your stuff is alot more costly than its worth. They will have to spend hundreds or several thousands of dollars to take your computer or tv, which they would be lucky to get 50-75 bucks for at a property auction.

No, whats going to happen is that judgement will be entered against you. Then, if they truely can't garnish your wages, they will go after your tax refunds and any other income that they can get access to and garnish that stuff.

Until you pay off the judgement it will stay on your credit report...They stay for at least seven years, I think. Oh, and as insult to injury, it will continue to grow in size because most judgements that I know of allow the plaintiff to continue to charge interest. Check the last page of paper they filed with the court, it should say something about allowing them to collect interest until it is payed off, plus attorneys fees and court costs.

Your credit is not going to be a bed of roses for a good long while. The fact that you have that outstanding debt that is pretty much marked as unpaid but still due is going to follow you. You either need to pay it off... or consider bankruptcy. While bankruptcy will screw up your credit for a while, the fact that it erase your requirement to pay that judgement may help you in the long term. I would contact an attorney and look over your options.

Good luck.

Answer 3

They have to officially sue you first and you'll have a court date. Then a judgement will be issued against you, which is basically just saying that you owe them and then you incur all attorney fees which can add another 2K onto your debt. If you don't pay after awhile, they can place a lien against any property you own. If you still don't pay, then yes, they can seize your property. You say you are renting your house....so if you are not buying the house, then I don't think that would be affected since you don't own it. They most likely would only come after valuable assets like a home. I don't think you have anything to worry about. They can't get blood from a turnip. Some states, tehy can garnish wages, but you say that in yours they can't so it looks like you're pretty safe. That's pretty pathetic that they won't accept what you can afford to pay them. Creditors are such "A" holes in that regard. I've had the same problems with credit card and collection agencies. It's like they just want to sue you and cause problems. I mean, if you can't pay them in full, but you're offereing to pay them what you can...it's like do they want their money or not???? It will affect your credit, though.

Answer 4

Don't worry about it. If they get a judgement against you, it'll sit there until they can collect - you have more pressing things to worry about.

They send it to a lawyer to try and make you believe they will sue you. If they won't take payments, then that is their problem, not yours - you are acting in good faith.

I was in a situation a few years ago that was sort of similar, where the collection agency threatened me with a suit, and I contacted their attorney and told them, yes, they could sue, but then I told him exactly why he wouldn't win a lawsuit. Of course, my details were a little different than yours.

As I said, worry about getting your life back together - stuff drops off your credit report after 7 years.

Answer 5

It's very, very unlikely that they will come to your house to take stuff. They will just get a judgment against you, which will show up on your credit report.

The amount you owe is not high enough for them to spend a lot of money collecting the debt. I'm surprised that they would even go to the expense of getting a judgment. Most debts this small are either written off or compromised.

Answer 6

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Answer 7

If they bothered to go to court, they believe you can pay more than you are offering. The court will probably grant the judgment, but they still have to collect. Taking your stuff is probably more effort than the stuff is worth. The court will probably decide how much they think you can pay and set up a repayment schedule.

Answer 8

I can't say for sure that you would lose your stuff, but when a friend of mine had a judgement against him it just sat on his credit history and makes is hard to get more credit. He had to clear that up before he could do any major credit things like buy a house or a car.

Answer 9

Is sounds like you need to go to a Consumer Credit Counseling (CCC) agency. They act as mediators for the consumer, they keep the credit card companies off your back, negotiate fair payoff amounts, consolidate your bills, and set you up with affordable monthly payments. The only downside is, if you don't keep up with their monthly payments, then all bets are off.

Answer 10

Only the original creditor can take you to court not a collection agency or a lawyer. If you want to pay your debt off, talk to the original lender only!!!! not the lawyer. never make any payments to anyone except the original lender. If i loan you money why would you pay anybody else but me? Just because someone comes over your house and says i'm here to collect for Mr. Morgan would you just hand over money? Work only with the original lender.

Answer 11

They will not try to get back your tv etc, they will try to deal with you though...eventually This will stay on your credit report for quite awhile.