Legal Question in Credit and Debt Law in California
I have a judgement against me from a divorce lawyer for $20,000
(2 years ago) I was never served personally.Just found out about ti.
Anyhow I was told that they can go to my bank account and take my money for next 10 to 20 years.
I was told I should try to settle with the collection company,, if so how much to offer?? I have no idea...
1 Answer from Attorneys
Collection agencies will often settle for 25%-50% of the amount owed, but that taking less than the amount of the judgment. If you weren't properly served, you might be able to bring a motion to set aside the judgment. You or an attorney might be able to used that as a negotiating point to get them to take a lower amount. The collection agency doesn't have to take a lower amount, but it might be difficult for them to collect the full amount if you can't afford it or don't have the money available.
You should talk to a bankruptcy attorney or someone that handles debt settlement.
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