Legal Question in Credit and Debt Law in Minnesota

cc debt settlement after summons

if you get a judgement for $10k cc debt against you, and you inherit $ after that judgement, can you negotiate a smaller amt w/ collector to payoff & settle in lump sum a lower amt due of approx. $4k?


Asked on 1/16/08, 1:05 pm

1 Answer from Attorneys
Sam Calvert Calvert Law Office

Re: cc debt settlement after summons

You can always ask a creditor to take less than it is owed. The creditor does not have to agree. I would not call them up and say "I just inherited $10,000, would you settle your judgment of $10,000 for $4000?"

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Answered on 1/16/08, 10:12 pm


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