What can actually happen if I dont pay this debt in full?????

Question

I was summoned by Midland Credit back in Aug.2007. I went to court and agreed to pay $75.00 a month. I made the first payment in Sept.,but this past month I just havent had the money. All I make is 150.00 a week babysitting. I just got a letter today from the lawyers office and it said I had to pay in full now or they will take further actions? What can they do??

Answer 1

This is credit. You HAVE to pay or else it goes against your credit record, which AFFECTS YOU in the FUTURE.

Work more, earn more and pay off your debt.

Answer 2

Why can't you call your attorney? Since you only owe, $885 or so, you should be able to make the $75 payments each month. They can trash your credit, but unless you own a car or home, they would be unable to place a lien.

There is no debtor's prison, just credit bureau hell. If you work for a family as a baby-sitter your wages can't be garnished. You need to get a real job that pays more than $150 a week.

Answer 3

Once you have gone to court and the judge has set an amount for you to pay, you can get into big trouble not paying.
Of course, it depends on what your other obligations are, but $150 a week is $600 a month and you should be able to pay $75 of that on the debt you owe, unless you have created more debt since then. When ever there is an agreement to pay anything, it is very important not to create more debt. You may have to give up something unnecessary for awhile until you can pay that $75 a month. Cigarettes, alcohol, cable TV, internet, eating out, things like that must be sacrificed when you have debts you cannot pay. That's how to get out of debt.

Answer 4

They can garnish your wages. You will have to report all income with proof seeing as you probably don't get only 1 actual pay check, and then they will take a percentage out before you even get to touch your money, and then give you the rest. They will not care one bit how bad of a spot it puts you in.
To sum it up, you better start looking for a better job or a second job, or find some way to come up with the lump sum and pay them off all at once. Even if you can only come up with like 75% of it, they will sometimes take it and consider the matter closed just to end the hassle...... but not always. Good luck.

Answer 5

The basic problem is you went to court and agreed to a payment, so in essence by not making that payment you are in contempt of court. I would also assume that by babysitting it is a cash deal? Another red flag for the authorities, under the table income with no taxes. Best bet is to find a way to pay them, before this ditch gets deeper.

Answer 6

My suggestion... get second job and pay the amount because it will reflect badly on your credit rating for years to come, making it hard for you to do anything, i.e rent / buy a place, get a car loan, phone connection etc. Completely up to you but my advice would be work your butt off and pay it off. If babysitting doesn't pay the cash, then find something else that makes up the shortfall you need to start paying

Answer 7

It won't pay off the debt, because of the fact all the money interior the international isn't sufficient to try this. Banks create money out of thin air, however the interest on the loan isn't created alongside it. that's called fractional reserve banking and replaced into guaranteed to crash. the only answer (in need of abolishing money and commerce altogether) could be to renounce pampering the banks, and to create money that would not ought to be paid back.

Answer 8

Is this a credit card? If it is, then nothing will happen as it is unsecured debt.