Debt Problems
debt problem with judgement in new york?
My bank account is being held by collections agency (debt problem). They got the Judgement (NY) and its been 2 years since i stopped paying the creditor. This is the third collections agency trying me. The first two bothered me with phone calls. But this one came with a judgement. Is this judgement legal ? How can I resolve this ?
Public Comments
- I took a guy to small claims court and I got a judgment against him. The judgment is just a piece of paper and it's very difficult to collect on a judgment if the guy doesn't own anything. If the judgment has been turned over to a collection agency, there normal fee is 50% of what is recovered. Call the place that you owe the money to and tell them you know they are only going to receive 50% of the judgement. Would they be willing to settle for 50% of what you owe and have the judgement removed from your record. It's either 100% to the collection agency of 50% to the original creditor. What have you got to lose by asking. Not knowing your finacial situation, but they may want the 50% all at one time. Don't panic over the judgement. It's just a paper that gives the collection agency an insentive to go after you. If you close out any bank accounts that you have and pay the necessary bills with money orders, that will stop them tapping into your bank account. If you have any property or vehicles that they may try to get and send these things to an auction, have all of your items like your vehicle or any property transfered into a friends name. Make it look like you own squat. They can't go after things you don't own. These collection agencies are ruthless and won't leave you alone. That's what they get paid to do and when they realize that you have nothing to go after, the judgement will be passed over to another collection agency. Get one of those cell phones that you can pay-as-you-go type thing. That will stop the phone calls. Good luck to you and don't forget, you have rights too. Fight back and don't let them try to scare you with a judgment. It means nothing if you have nothing. Keep in mind that they can tap into your earned wages if they know where you work, but again, they are only allowed to take a percentage of your total earnings. Find out what that percentage is in NY. and try to get paid under the table.
