Legal Question in Credit and Debt Law in California

loan debt

Two years ago I cashed a beneficial check that came in my name through the mail. I made 21 payments and fell behind by 3 months. I have recieved a suumons. I have been communicating with the collections agency handling this. I owed 7800 now they say I owe 9500 added on penaltys. I offered them 6000 they stated they want 7500 at one time or 8100 in two payments. I am only able to come up with the 6000 they state I will incur further interest and wage garnishment through my husband due to the fact I have never worked. How can I get them to accept this and avoid wage garnishment. ( I have a family of 8) to support. I am admitting my debt but I have paid faithfully for 2 years. Now I feel I am drowning and they are being unreasonable to assist me with repaingy this debt. Is thier anything I can do to get them to acept this payment? Should I jsut send the 6000?


Asked on 2/15/08, 8:34 pm

1 Answer from Attorneys
Jonathan Stein Law Offices of Jonathan G. Stein

Re: loan debt

You should consult with an attorney. You may have some defenses available to you to limit or reduce the amount you owe. However, without a consultation, you will not know about these defenses.

If you do owe the full amount, you can either file for bankruptcy or start to make payments to them. The payments will reduce the amount owed and will reduce the amount of a judgment they get against you.

Even if they get a judgment, they may not be able to garnish wages, depending on income.

You should consult with an attorney. Please feel free to visit my website, www.californiadebtblog.com for more information.

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Answered on 2/15/08, 8:44 pm


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