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-   -   Judgement Granted against me have a few questions (https://www.askmehelpdesk.com/showthread.php?t=410517)

  • Oct 28, 2009, 09:06 AM
    blkempinc
    Judgement Granted against me have a few questions
    Judgement principal is about 6500 and the attorney fees were approx 2500 and it is accumulating 18% interest. I have 2 main questions. The first How is that interest calculated? If I pay 200 a month will it ever get paid? My next question is what would a reasonable payment plan be. How should I approach this sunject with the attorney. Should I offer a grand down to start a payment plan or just opt for the 200 month payment and bring my first payment. I don't want to get shot down or look too stupid in there. I plan on paying this off within a year or 2 through my tax credits I'm getting this year but I don't really want to tell them that in case I don't get them. It was a business account but the sued me personally and I missed court so I am trying to keep them from selling my vehicles and other things I have. Its my understanding that they can't pursue if we make a payment plan.
  • Oct 28, 2009, 09:28 AM
    ScottGem

    They have a judgment, they have the upper hand. If THEY agree to a payment plan they have to honor it as long as you adhere to the plan. Make one payment late and they will use the judgment. If they don't like the plan you offer, they don't have to accept it. So you would be better off mentioning that you hope to get enough money to pay it in full in a year or two. That might make them more willing to accept monthly payments.
  • Oct 28, 2009, 12:28 PM
    this8384
    Quote:
    Originally Posted by blkempinc View Post
    Judgement principal is about 6500 and the attorney fees were approx 2500 and it is accumulating 18% intrest. I have 2 main questions. The first How is that interest calculated? If i pay 200 a month will it ever get paid? My next question is what would a reasonable payment plan be. How should I approach this sunject with the attorney. should I offer a grand down to start a payment plan or just opt for the 200 month payment and bring my first payment. I dont wanna get shot down or look too stupid in there. I plan on paying this off within a year or 2 through my tax credits im getting this year but I dont really want to tell them that in case i dont get them. It was a business account but the sued me personally and I missed court so I am trying to keep them from selling my vehicles and other things i have. Its my understanding that they can't pursue if we make a payment plan.
    At $200/month, you're going to only be paying off about $80 of the principal each month.

    I would contact the attorney, try to arrange a payment plan. Like Scott said, they don't necessarily have to accept it. And until it is paid in full, they can pursue it anyway that they deem fit, as long as they're not breaking the law by doing so.

    They cannot legally sell your vehicles or anything else that is in your name. They can place a lien on your property, but they cannot sell it nor can they force you to sell it. If they do place a lien, it will be released once the debt is satisfied.
  • Oct 28, 2009, 01:32 PM
    this8384

    Quote:
    Originally Posted by JudyKayTee
    JudyKayTee agrees: I'm sitting here for two hours with a calculator and you know this off the top of your head?
    I like math :D

    It's really not that hard. Judgment and attorney fees = $8,000. $8,000 x 18% = $1,440 annually. $1,440 divided by 12 = $120 a month in interest.
  • Oct 28, 2009, 01:49 PM
    JudyKayTee

    Easy for you to say.

    I am math challenged. Why do you think I was an English major?

    Let's see - $8,000 times 18 - 8,000 times 8, carry the..

    Never mind.
  • Oct 28, 2009, 05:52 PM
    Fr_Chuck

    In states where they can garnish they can merely take 25 percent of your pay normally, so most likely close to that figure could be considered reasonable to them
  • Nov 3, 2009, 10:34 AM
    ptcpaul01

    FR_chuck is correct, they can only get 25%, this 8384 is wrong if you own your vehicle or vehicles and they are not used for business and worth a lot, they CAN take them and have them sold at auction. Most of the time they leave cars alone as it costs way too much that is why they need to be worth quite a bit
  • Nov 3, 2009, 06:41 PM
    JudyKayTee
    Quote:
    Originally Posted by ptcpaul01 View Post
    FR_chuck is correct, they can only get 25%,, this 8384 is wrong if you own your vehicle or vehicles and they are not used for business and worth alot, they CAN take them and have them sold at auction. Most of the time they leave cars alone as it costs way to much that is why they need to be worth quite a bit

    Let's be specific about the State - which State are you talking about?
  • Nov 4, 2009, 07:40 AM
    this8384
    Quote:
    Originally Posted by JudyKayTee View Post
    Let's be specific about the State - which State are you talking about?
    In Wisconsin this can be done; however, it certainly isn't done in a small claims suit. Our limit here for small claims is only $5,000 and everyone I've talked to said a sheriff won't bother for a small claims suit because there are too many legal loopholes and it's too complicated of a process.
  • Nov 4, 2009, 09:58 AM
    JudyKayTee

    Likewise, I've NEVER seen this happen in NY, including when the Judgment is for unpaid legal fees and an Attorney is the Plaintiff!

    That's why I questioned PTCPaul01 and wondered where he is.
  • Nov 4, 2009, 10:17 AM
    this8384
    Quote:
    Originally Posted by JudyKayTee View Post
    Likewise, I've NEVER seen this happen in NY, including when the Judgment is for unpaid legal fees and an Attorney is the Plaintiff!

    That's why I questioned PTCPaul01 and wondered where he is.
    I don't think his location really matters; he's been consistently wrong on every legal thread he posts on.

    But that might just be my assumption :D
  • Nov 5, 2009, 07:11 AM
    excon
    Quote:
    Originally Posted by blkempinc View Post
    Its my understanding that they can't pursue if we make a payment plan.
    Hello b:

    Absolutely WRONG!

    If you have CASH, however, you can negotiate the debt. If you're good, you can probably get away with paying $.25 on the dollar.

    excon

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