Legal Question in Credit and Debt Law in North Carolina

If its your debt and you truly have no assets that are at risk and you have no defenses, then the creditor will probably get a judgment against you. In order to collect though, the creditor first has to have the sheriff serve you with a "notice of rights to have exemptions designated" and "motio to claim exempt property." These papers are very important! You must fill them out properly so that your assets cannot be seized including your bank account. I can help you review them for a charge of $50.

I would start paying the money to yourself - try to set aside as much as you can each month - $50 - $100. There is no guarantee that the creditor will accept less, but maybe they will. When you have about 50% of whatever the balance on the judgment is at that time (it will get bigger as it accrues interest on a daily basis), I can try to help resolve the debt for you for a small fee or you can try on your own.

You can also pay money directly to the clerk of court. I don't recommend this, but if you do it, you will have to pay the full sum owed plus interest. You also need to make sure that your payments cover the accrued interest each month plus something on the principal. It is also possible to enter into a payment agreement with the creditor where they promise not to seize your bank account or other assets so long as you pay them a monthly sum. I do not see a need for this either unless the client wants it.

If you are interested, please contact me at [email protected].