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Really late credit card payments

Submitted by on Wed, 08/06/2008 - 02:19
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I have some credit card debt (3 months default) that tried to pay off/down. (My hours were cut the last 3 months) The creditors I have are:

Walmart 300
Target 300
Capital One 800
Sears 800
Household Bank 800

My problem is my bank account is frozen because of a judgment so all my payments to the creditors bounced. While I'm trying to settle this judgment, I am living paycheck to paycheck and I have no assets, not even a car. I only have enough left over to make very small payments a month. Do you think the creditors will agree to such a payment plan. There is no way I can come up with full payments right now. Help!


Yes, I was served a civil suit. I didn't know that I could do a DV for proof so I made payments on the account and then when my hours were cut, I missed some. I didn't file an answer to the suit because I thought it would just go away (stupid me). The judgment went to default so now the collection agency that is suing me will probably take all the money I have in the bank?
I borrowed some money from a few friends, don't know how I'll pay them back.
Do you think the credit cards I owe now will be maybe a little understanding and work with me? I am willing to pay all of my debt, but I just don't have a whole lot of money at one time.
Thanks.


Submitted by on Wed, 08/06/2008 - 09:54

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Okay, so I just checked with the bank and the CA withdrew 1700 plus another 100 for legal fees. I now have 600 available but the bank rep says the levy will be there until November. He said to talk to Mark Walsh (Legal Recovery Associates) to see if the levy can be removed. What do I do? I really need to get that money out!


Submitted by on Wed, 08/06/2008 - 11:35

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Umm, okay. Do you think I will be able to get the balance out? How difficult do you think it will be to talk to the CA? I have tried to communicate with them in the past on why I missed payments but the lady I talked to didn't even listen. I think they just want their money.
I am not going to have a bank account for awhile. CASH only for now.
Like I mentioned before, I am willing to pay this debt, but now I have over 1000 in bounced payments I have to take care of first (how, I don't know yet).
Should I even attempt to talk to the CA?


Submitted by on Wed, 08/06/2008 - 12:57

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Nope. Judgment has already been enforced. Really sucks that I let myself get into this much trouble. But I am getting such an education from these boards!

I was going to try to see if 1000 would satisfy the judgment but since they have already taken 1700+, time to try something else. Suggestions anyone?

Btw, thanks to everyone for helping out...I'm so ready to jump off a cliff (but I won't until all the debt is paid...).


Submitted by on Wed, 08/06/2008 - 13:07

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I would definitely try to work something out with the CA. Since they have a judgment, they could also garnish your wages for 25% of your disposable income (take home pay), unless you live in a state that doesn't allow garnishments. If you could work out some kind of payment plan with them, you might be able to avoid that.


Submitted by alias1958 on Wed, 08/06/2008 - 13:21

alias1958

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