Court Summons
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| Mon, 06-20-2005 - 6:15pm |
Hello all, I have been a long time lurker here. Let me just say that you are a wonderful group of people and that I enjoy coming to this board and reading all the posts for support.
I have a problem with an old cc that was charged off and now the collection agency is suing me. I talked to someone in their lawyers office and they are willing to settle for $935 and dismiss the case or pay $101 a month for 12 months and I would have to sign a consent judgment. The settlement is good for a month but am having a hard time deciding what to do because I don't like the idea of saving up the money in one month and then give it all away the next day. What if something happens and I am without money? I am so confused. I don't know which option would be best. What do you guys think?
Thanks for listening and I look forward to reading your replies.
HelloKitty
Edited 6/20/2005 7:36 pm ET ET by mom_hellokitty

Hello mom_hellokitty,
If it were me, and I had the $935, I would pay them. It's so freeing to get that debt off your conscious, it's worth it!
If I didn't have $935, I would pay the $101/month. I don't know anything about a consent judgement though, so I'd probably go over to the debt Q&A or find one of those free lawyers.
Good luck!
Lee Ann
Lee Ann
www.werenotafraid.com
All my best,
Danni
Don't forget that you may owe taxes on the difference between the amount you owe and the amount you actually pay. So if it's a huge difference, you may want also to look into the tax implications--it would really stink to pay off the debt and then get stuck with an unexpected tax bill too.
Good luck and let us know what happens!
Heather
Am I missing something here?
CC debt is unsecured (in most cases).
How can you be sued for it?
Something smells fishy here...at least to me.
Thank you all for the replies. I will be paying the settlement amount and they will dismiss the case. They will report as settled/paid in full. If I were to make the payments then the consent judgment would appear on my credit report as a separate tradeline under the public records section.
az tbone, it does not matter whether it is unsecured or not, they can sue and if they get a judgment against me then they can garnish my wages or empty my bank account (if they know my account number or find out) in order to satisfy that judgment. I could fight this in court but it is my debt and I want to pay it and it is still under the SOL for my state.
mom_HelloKitty
All my best,
Danni