Need some SERIOUS advice.
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|Thu, 03-26-2009 - 7:05pm|
I have a creditor that is threatening legal action by the end of the month. The original debt was 2500 with Chase Bank it has since been sold to First Resolution Management Company.
The debt is up to 4200 as we speak, I offered 1, 800 as a settlement. They declined and came back with 3000, I said I could do that but it turns out I can't. My tax refund was garnished ( a thousand of it was) from an old student loan that is now officially paid off. Anyway.
I am wondering what I should do I called them (yes I know never call) and told them I could no longer do the plan and they said I had to either pay 3000 dollars or agree to 500 dollar a month monthly payments or they would take me to court. I work for a law firm if my wages were garnished I would be humiliated.
I need help! Should I just pay them the 2000 dollars and then make monthly payments that I can afford ( 200 dollars/month) or should I take this 2000 dollars and pay a credit card off that I'm current on and do a DMP??? Does anyone know if First Resolution even agrees to DMPs?
I think since they are threatening legal action that I've pretty much waited too late and that's nobodys fault but my own but I still would like to see if anyone has any ideas/suggestions.
Thanks SO MUCH.