Settlement

Date: Fri, 03/27/2009 - 21:24

Submitted by anonymous
on Fri, 03/27/2009 - 21:24

Posts: 202330 Credits: [Donate]

Total Replies: 4

So I have a Judgment against me from Discover Bank for $7K. Is there any chance of them taking a settlement of less money just to get it paid or since they already have the judgment will they want payment in full?

Thanks

Since the creditor has already brought judgment against you, the

Since the creditor has already brought judgment against you, they will try and recover the entire judgment amount. Now, if the judgment has been brought to garnish your wage, your wage will get garnished (a maximum of 25%) till the time the amount is repaid in full.

lrhall41

Submitted by jstn.credit on Sat, 03/28/2009 - 04:51

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Well I live in PA so wage garnishment is not an option. I have

Well I live in PA so wage garnishment is not an option. I have also limted funds in my checking account so if they levy they wont get much.

lrhall41

Submitted by on Sat, 03/28/2009 - 11:46

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A levy on your account will remain untill the debt is cleared.

A levy on your account will remain untill the debt is cleared.

If the judgment is final then there is little chance Discover will take anything less than 7k. But you should contact them and see what you can work out.

lrhall41

Submitted by Cool_Abyss on Sat, 03/28/2009 - 11:55

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If garnishment is not an option and the state has some laws that

If garnishment is not an option and the state has some laws that make much of your things safe, then the creditor may be more willing to negotiate a settlement since getting something is better then nothing. Can't hurt to try! Just be sure to get it in writing to cover yourself.

lrhall41

Submitted by goldenbast on Sun, 03/29/2009 - 00:07

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