Credit Card Judgement?

I recently got a letter from a lawyer for a credit card judgement. The amount they are willing to settle for is more than I can pay; $3000, and the debt is $4800. They won%26#039;t allow any payments. I%26#039;m a full time college student and I have no assets other than a checking account with $900 in it, no car or house or anything like that in my name. I only work part time and make $800 a month so debt management agencies have denied me because my expenses are too high. My job is not even permanent, I%26#039;m employed through a temporary service. Is there anything I can do other than declare bankruptcy?

Credit Card Judgement?

Yeah, get a job. Stand out with the day laborers until you find a full time job that pays good. Really, I know some Mexicans that speak English and make $100 a day. The best jobs are in manual labor since you won%26#039;t pass a background/credit check. Try something at least $12 hourly.

Credit Card Judgement?

It doesn%26#039;t sound like there is anything the lawyer can do right now. They will keep sending you letters and trying to call you. Just hang in there until you can pay it. If you can afford to send something each month then I would recommend you do that. Even though they said no payments, I bet if you send them a payment, they will cash it. I wouldn%26#039;t declare bankruptcy over one debt. Hang in there and get through school and then pay it when you can.

Credit Card Judgement?

If you can%26#039;t pay for this credit card debt, than what can you do? If you don%26#039;t have any money.

Well sticky situation, but what I would do is, begin to send $25.00 a week $100.00 a month to the credit card company directly. I would only pay by %26quot;money order%26quot; or %26quot;certified bank check%26quot;. If the credit card company %26quot;accepts%26quot; these payments by %26quot;cashing them%26quot;, then you can assume that they are accepting your %26quot;payment plan%26quot;.

If they do cash them, then you %26quot;must%26quot; continue to make the same amount of payments monthly and accordingly. After, (assuming that they do accept your payments) you can check your credit report, and make sure that these payments are being reported (they still should be showing as %26quot;late%26quot;). If they do not report your monthly payments at all, then you can dispute the items on your credit report with the credit reporting agencies directly.

If the credit card company does %26quot;not%26quot; accept your payments at all and return them back to you; then I would suggest for you to start saving as much as possible. Once you have reached at least 50% of the debt, I would send a %26quot;certified%26quot; letter with a settlement offer to the collections agency. I would say in my letter;

%26quot;I really would like to settle this debt%26quot;. I would like to make a good faith settlement offer in the amount for $2,400. if you %26quot;agree%26quot; to my offer, please send me a letter of acceptance with the %26quot;managers%26quot; signature no later than 15 working days of receipt of this letter and once I receive your letter than I will send you a %26quot;bank check%26quot; within 3 working days for the amount stated above.

I would also add, I am requesting that once you have received my settlement payment in full, that your office correct/update my credit record.

Either way you go, good luck.

Credit Card Judgement?

You can forget trying to pay the credit card company. Once they sell your account to a collection company they can not accept payments from you.

The bad part of this is that if the collection company takes you to court and gets a judgment they can attach bank accounts, garnish wages (if your State allows it) and file liens on any property you may own.

According to your question, you don%26#039;t have to worry about the liens since you don%26#039;t own any property.

Since they are talking about settling, I am guessing that they do not have a judgment yet. But if you do not address this issue they will get one.

Bankruptcy is not a option, you do not have enough debt.

I would suggest you start working full time and save enough money to pay them so you can avoid the judgment. Your credit has already taken enough of a hit with the card being written off and the collection activity.