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tparkcraig · Sep 19, 2006, 12:48 PM

Howdy,

4 years ago I let a credit card charge off for $11,700. A law firm bought the debt and until last year I had paid it down to $6700. I just haven't had the money to pay them. I earned 28k last year and my YTD is 7k for this year. I just got a court summons. I assume my wages will be garnished because I have no money. How much can they take? I have no property. Just a new truck that's 3 weeks old. Can I do anything to avoid paying for their lawyer? After this, will a judgement be on my credit for 7 years or until I pay it in full? If they are going to wreck my credit I might just let some other credit cards go to. They have balances of 3500, 2500, 2000, and 2000. At what point is it no longer worth the creditors time to sue me? Now that I think about it, this summons might just help.

Much appreciation!

ScottGem · Sep 19, 2006, 12:55 PM

The amount they can garnish depends on your area. The judgement should remain on your credit report though it willb e noted as satisifed when paid off.

I think you need credit counseling.

Northwind_Dagas · Sep 19, 2006, 01:41 PM

Originally Posted by tparkcraig

Howdy,

I just haven't had the money to pay them.
....
I have no property. Just a new truck thats 3 weeks old.

How do you have a new truck if you didn't have money to pay for your debt?

Originally Posted by tparkcraig

If they are going to wreck my credit i might just let some other credit cards go to.

Letting you other cards "go" will only open you to more litigation.

I doubt a judgment is going too much affect your credit score more than it is already affected by the charge-off (although, its not really a charge-off if they are still requiring payment.)

I agree with ScottGem that you might benefit from credit counseling.

mr.yet · Sep 19, 2006, 03:50 PM

Attorneys directly or indirectly purchasing debt are guilty of am misdeameanor.

§6129. Buying Claim as Misdemeanor

Every attorney who, either directly or indirectly, buys or is interested in buying any evidence of debt or thing in action, with intent to bring suit thereon, is guilty of a misdemeanor.

Any violation of the provisions of this section is punishable by imprisonment in the county jail not exceeding six months, or by a fine not exceeding two thousand five hundred dollars ($2,500), or by both. (Origin: Pen. Code §161. Amended by Stats. 1976, ch. 1125.)

ScottGem · Sep 20, 2006, 05:32 AM

Originally Posted by Northwind_Dagas

How do you have a new truck if you didn't have money to pay for your debt?

A very good question!