Repo
Date: Wed, 05/19/2010 - 19:45
I'm seeking advice on how to deal with MRS associates collections after trying to settle with them.
My car was repossessed last June by Toyota. They sold the account to MRS. Now MRS and I have been back and forth on the phone. Them trying to get over 8k out of me which of course I don't have. I offered to settle for 1k because that is all I have. They basically laughed in my face. They said they would settle for 5k. I don't have that much and don't know anyone that has that much. Therefore I can't pay that much. Now im just sick and tired of talking with them and getting no where. I know the next step for them is to sue me and take me too court.
The thing with that is the only reason to take me to court would be to garnish my wages. Well I did some research and I don't make enough for them to garnish my wages. I have pay checks and bills to prove this as well. So what now?
My car was repossessed last June by Toyota. They sold the account to MRS. Now MRS and I have been back and forth on the phone. Them trying to get over 8k out of me which of course I don't have. I offered to settle for 1k because that is all I have. They basically laughed in my face. They said they would settle for 5k. I don't have that much and don't know anyone that has that much. Therefore I can't pay that much. Now im just sick and tired of talking with them and getting no where. I know the next step for them is to sue me and take me too court.
The thing with that is the only reason to take me to court would be to garnish my wages. Well I did some research and I don't make enough for them to garnish my wages. I have pay checks and bills to prove this as well. So what now?
Garnishments dont take into account your bills, only your pay.
Garnishments dont take into account your bills, only your pay. You may only earn so much now but you will probably earn more in the future. In some state, judgments can be renewed and end up being good for 20 years. So they are hedging that you will earn more in the future. That is why they will sue you. Plus they can also levy your bank account too.
