Judgement against me...options to settle?
Date: Mon, 06/20/2011 - 17:21
Submitted by some.random.dude.man
on
Mon, 06/20/2011 - 17:21
Total Replies: 8
Trying to work out a settlement with collection agency.
The judgement is from an account that is over 5 years old.
Law firm is Glasser & Glasser....I live in Virginia.
They are acting as though they represent Capital One, but do they? Or did they just buy the debt?
I am basically judgement proof....I have nothing they can take....
But I would like to settle....is making them an offer at 20% worth trying?
What are my options?
Is there a way I can contact Capital One and see if this debt has been charged off?
I feel like Glasser & Glasser is just trying to profit as much as they can on this....and Capital One is out of the picture....am I right?
Should I just lowball them with an offer and see if they accept?
cap one often places direct with attorneys rather than charge of
cap one often places direct with attorneys rather than charge off and sell the account. so its entirely likely that this office is representing cap one. 20% for judgement sounds quite low. when you say you are judgment proof (funny since there IS a judgment) you receive SSI? or you just dont have assets now? if its the former and you can prove you have no assets then you might be able to settle. if its the latter it will be much much harder.
I have no assets...no money... Judgement proof doesn't mean I
I have no assets...no money...
Judgement proof doesn't mean I can't get a judgement against me, it means they have no way to collect.
you didnt answer the main issue. is your "judgement proof" stat
you didnt answer the main issue. is your "judgement proof" status temporary or permanent? if youre young and its likely to be temporary then your judgement will likely last longer than your status and they will know that. if on the other hand your on permanent disability or something like that then you might have some leverage.
Capital One as a general rule assigns their debts...they do not
Capital One as a general rule assigns their debts...they do not sell them.
If they have a judgment against you as you say, you are way past the charge off stage.
20% will barely cover the court and legal costs which have been added to your balance....I can assure you they will not settle for 20%.
Do you work? They can garnish your wages and freeze your bank account.
20% is about what it will cost me to file bankruptcy...so I plan
20% is about what it will cost me to file bankruptcy...so I plan on telling them to make a choice - either they get that 20% or a bankruptcy lawyer does.
Bad idea?
20% is actually right around 100% of the actual balance from 5 years ago.
I currently don't have a steady income...I freelance and do jobs when I can get them.
They hear the bankruptcy card all day every day. dont expect it
They hear the bankruptcy card all day every day. dont expect it to break the case. and what your balance was 5 years ago doesnt matter either. is this your only debt?
Bankruptcy judge is likely to tell you to get a real job, that y
Bankruptcy judge is likely to tell you to get a real job, that you are not making sufficient effort to pay. So how do you live the rest of the time? You married? What bankrutcy you file will go by a means test which includes household income.
Contact them
you need to contact them and set up a payment plan, even it if it is for $25.00. I didn't follow through and they ended up garnishing my wages for 25% of my take home pay. So my advise is to contact them and set something up. They seem to have a great relationship with the court system so you do not have a chance against them.