They are going to take me to court. I can't pay them off? Please let me know if you had this experience
2006-09-18 12:03:15 · 12 answers · asked by 2strongfor2long 3 in Business & Finance ➔ Credit
Going through it right now....this week my first garnishment comes out.
2006-09-18 12:11:16 · answer #1 · answered by msuzyq 4 · 0⤊ 0⤋
Anyone who takes you to court and wins, and you are unable to pay them the amount of the judgment, can request garnishment ( as long as state laws allow it ). Keep in mind, they will not take you to court if the dollar amount is below a certain amount (which will vary by creditor. ) Example: no one will take you to court and pay all the expenses of a court case for $500.00. That would be a huge loss for the lender. $5,000.00 would likely be a different story.
2006-09-18 15:39:08 · answer #2 · answered by David 2 · 0⤊ 0⤋
I believe they can take up to 25% of your wages if given a court order. It sounds like it may be time for a consumer credit counseling appointment ... FREE. Check out the link below and go to the "take the first step" link.
2006-09-18 14:47:00 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Garnishment falls under the Consumer Credit Protection Act. Look it up to see how it fares in your specific situation.
www.dol.gov
2006-09-18 12:11:35 · answer #4 · answered by nido_tr3s 5 · 0⤊ 0⤋
Credit card debt is debt. Try to setup some payment arrangement (reasonable to both sides), but if you miss any payment for any reason, they'll sue and it'll be an easy win for them. The thing is to make payments. If you can't afford what they propose, tell them what you can afford and be prepared to defend your numbers. (Hint: cable TV will not be viewed as a "necessity"....just an example.)
2006-09-18 12:20:31 · answer #5 · answered by Dwight D J 5 · 0⤊ 0⤋
Any creditor can ask a court to garnish your wages.
2006-09-18 12:11:32 · answer #6 · answered by Randy G 7 · 0⤊ 0⤋
Try and negotiate instead of forcing them to take you to court!
If you are determined to pay of your debt (s) and turn over a new 'financial' leaf you may wish to contact your creditors yourself. By doing so, you may be able to negotiate a lower interest rate or a more realistic repayment plan. This is known as self arbitration.
2006-09-18 12:14:13 · answer #7 · answered by ken_voss12345 4 · 0⤊ 0⤋
depends on the company....and yes up to 10% of your check but 15% max for total garnished from a single check
2006-09-18 12:05:38 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Whether they can garnish or not, or what else they can do if they win the case depends on your states exemption statutes.
Some states allow garnishment, others don't.
2006-09-18 12:50:39 · answer #9 · answered by echo 7 · 1⤊ 0⤋
yes but they need to take you to court first, and before they can do that they have to send you a demand for full payment and then give you 90 days
2006-09-18 12:20:22 · answer #10 · answered by l_du_pont@verizon.net 1 · 0⤊ 0⤋