Negotiating with Portfolio Recovery
So my situation. While we were still together my ex maxed out all of my credit cards. Stopped paying most of them (She handled our finances) Then left. I am on a very limited fixed income due to a permanent disability (SSDI). 3/4 of which goes towards my mortgage, rent and utilities.
My finances have stabilized somewhat, online surveys have helped, and I can save small amounts here and there, but not enough to handle the debts. And not reliably enough to enter into a payment agreement.
One of my debts was handed over to Portfolio Recovery Associates. I received 3 letters from them last year, and now they have sued me. They served me a few days before my state went into Stay at Home. I have talked to the county courthouse and they say all filing dates remain the same. So I have not been able to find legal assistance. The only advice I was able to get was that my income and assets are not something that could be garnished.
With the stimulus package coming in, hopefully before the court filing deadline. I am considering calling PRA to see if I can negotiate a settlement. The debt is $2400, and if I were to scrape everything I have together, plus the stimulus, I could at most pay them $2000.
My big problem is that I have severe anxiety, and social phobias. So talking to them will be incredibly difficult. It's best if I head into it as prepared as possible.
What are my odds of successfully negotiating a payment with them? Should I put the money towards one of my other debts instead? If I lower the one I have been making payments on sufficiently it would make my month to month easier, but I would still likely have a judgement hanging over my head.
Also, does anyone have experience dealing with PRA. Are they a reasonable company, or one of the abusive ones?
You can talk to a legal firm
You can talk to a legal firm and, if it's possible, they can negotiate to settle the debt. Take help from a reliable debt settlement firm.
First of all, relax. Calm
First of all, relax. Calm your agitated nerves. I know you're extremely paranoid right now. Court cases are like that. What to do.
Listen, the court can't garnish your SSDI benefits. That is out of question.
See, the collection agency will try its best to grab your stimulus check. Many collection agencies are already trying this strategy. You have given so many information. But you didn't tell us the name of the state. In some states, the state government has issued an emergency order to stop any kind of garnishment order directed to banks.
And, I found another rule.
"A U.S. Treasury rule exempts from garnishment an amount in a bank account or direct express card equal to two months of federal benefit payments for that individual.”
This rule is applicable for the people who live on Social Security benefits.
Even if they win the case, they can hardly do anything.
But can you tell them so many things? Plus, $2000 amount is quite big. A good online debt relief company can help you to do out of court settlement at a lower payoff amount. They will take care of the negotiation part. Since, you have anxiety, this is why I'm suggesting you this,
You can get a list of DEBTCC verified debt relief companies from here:
https://www.debtconsolidationcare.com/companies