Legal Question in Credit and Debt Law in Nebraska

debt company,

I have a debt company that has sent me notice in Jan. for a debt that is mine. However , after providing all my expense and income information, the payment amount is an amount that I can't afford. I informed the company and I have offer a payment amount taht I can afford. Unfortunately , they didn't accept that amount. I now have received a letter from a lawyer stating that I have til 04/08 to pay in full or they will take legal action. I am not sure what do to at this point. I am going to sent a payment with a payment letter and a payment on 04/03/08. I am not sure what to do at this point, and am looking to some help. Also, I thought about bankrupcty, but i financed a used car and don't want to afftect that. Any help would be appericated.


Asked on 4/01/08, 8:08 pm

1 Answer from Attorneys
Katherine Owen

Re: debt company,

Most likely the partial payment will be returned to you or not cashed, but it is worth a try.

The creditor and/or attorney is under no legal obligation to accept partial payments from you. If they get a judgment against you, they may be able to execute on it (garnish wages, or a bank account) even if that means you can't meet your living expenses. A fairly grim situation.

Re: bankruptcy, I'm not sure what you mean on the car. I would need to know: what the car is worth, how much you owe on it, and whether you are current on the payments. But it is a common misconception that you can't go through bankruptcy keeping a car/car loan; many debtors do this.

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Answered on 4/02/08, 10:10 am


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