Legal Question in Credit and Debt Law in Michigan

Re: stipulation for installment payments

An order for installment payments simply means you have agreed to make monthly payments to the creditor in a specified, agreed-upon amount until the judgment is paid in full.

When an order for installment payments is entered by the court, the creditor cannot garnish your wages as long as you pay as agreed. This may also protect your bank account, but not necessarily. If you default, the creditor can garnish your wages. If there is no installment order in effect, the creditor can garnish your wages also. I like these installment payment orders, but I have not seen yours and do not know your situation, so I cannot tell you whether or not it is the right thing for you. Make sure you can afford the payments before you agree. If you cannot afford the payments the attorney has requested, you can request a hearing on a motion for installment payments, and let a judge decide what the right amount is for you and your situation.