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    cateyez1194's Avatar
    cateyez1194 Posts: 1, Reputation: 1
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    #1

    Jul 19, 2007, 02:07 PM
    Credit card debt
    If a creditor tries to settle an account with you that has been charged off, with a monthly payment that is greater than you can afford, what will happen if you send what you can afford, can they proceed with a garnishment, if you are not paying the minimum they are requiring?
    tickle's Avatar
    tickle Posts: 23,796, Reputation: 2674
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    #2

    Jul 19, 2007, 02:17 PM
    Then... you didn't negotiate terms that were suitable for you. You settled on what they said you should be paying back which exceeded expectations. You signed an agreement to pay back a certain amount and you are beholden to that.
    whatshername's Avatar
    whatshername Posts: 3, Reputation: 2
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    #3

    Jul 19, 2007, 02:42 PM
    Quote Originally Posted by cateyez1194
    if a creditor trys to settle an account with you that has been charged off, with a monthly payment that is greater than you can afford, what will happen if you send what you can afford, can they proceed with a garnishment, if you are not paying the minimum they are requiring?
    I think it would depend on the amount of the debt - garnishment means they are going to court - send them what you can and try to work out an affordable repayment plan.
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