to pay since I haven't been working for over 8 months now. I have explained it to them that I have been unemployed for most of the year but they said the client is very impatient and wants to have a judgement. How does a judgement works and if you cannot pay it because what will happen will I get arrested or what? It seems that now the loans and credit companies are going after everyone now with the credit c risis
2007-12-21 09:09:12 · 4 answers · asked by Contessa 2 in Business & Finance ➔ Credit
No jail because you can't pay your bills. In addition, it will also depend on which state you live in as to what action can be taken. In Florida if you are head of household they can not garnish your wages or attach your bank account.
You may want to see if they are just blowing smoke up your rear too. Alot of those collection companies work at the attorney's office but they are just that, a collection company. They purchased your debt from the original creditor so there is no CLIENT getting impatient, it is just the collector wanting you to pay so they can make their goal for the month. How old is the debt?
I can talk you through what to do but I need details
How old is the debt
Who is debt to
$$ amount owed
etc.....
You can email me if you want.
2007-12-23 09:33:58 · answer #1 · answered by HoHoHo 1 · 0⤊ 0⤋
honey, it's not aganist the law to be poor. no you will not go to jail. credit cards loans are unsecured loans. what will happen it, the credit card company will get a judgment which means the court will say, yes you do have the right to collect. They will continue to bug you until you set up some type of payment arragement with them. That's the most they can do. Some states have a garnishment law. Texas does not. If you cannot afford to pay when you go to court let the judge know that you will be happy to pay $5.00 a month or whatever you have. You must understand that this will mess up your credit but that's about it. credit card companies are 1billion dollars + in debt, so don't dismay, you are not the only one that cannot pay your cedit card bills.
2007-12-21 20:50:30 · answer #2 · answered by Peggy G 2 · 1⤊ 0⤋
The collector can take you to court and win a judgment. With that judgment they can attach your bank account, lien your property, and garnish you wages (if and when you go back to work). If you don't have any assets for them to take right now, they can wait till you do.
Judgments are good for 10 years and can be renewed. They also show up on your credit report for 10 years.
We don't have debtor's prison in the US so you won't go to jail. Some collectors use the threat of a judgment as a scare tactic to get payment. However, there are some very aggressive collection agencies who will go to court over relatively small balances.
2007-12-21 17:32:53 · answer #3 · answered by bdancer222 7 · 2⤊ 0⤋
First, are you sure that this is "really" an actual law firm and not a collection agency pretending to be one? This is very common behavior among collection agencies and it's illegal under the Fair Debt Collection Act.
Request to know the full name of their attorney and his/her license number in the state bar association and that you would like to speak with him/her. Per the Fair Debt Collection Act you have this right.
Even if this is a real law firm and they do get a judgment, if you continue to be unemployed, they can't garnish wages that do not exist.
2007-12-21 17:56:33 · answer #4 · answered by CatDad 7 · 3⤊ 0⤋