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Need some advice in florida........


Dru
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I posted on the 'Collections' forum, but was told to ask the question here! :cry:

http://www.debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=38026

Can someone give me some advice…….. I’m scared out of my wits! My wife was summoned to ‘Civil Court’ over a credit card debt from about five years ago. The plaintiff “Assest Acceptance Group’ or something like that is apparently a bunch of attorneys that work/own a collection agency.

My wife agreed the debt was hers, judge basically said before court began that an agreement would be made between the defendants and plaintiff on the amount to be paid, if that could not be met a ‘Judgment’ would be issued. Well the amount the attorney wanted my wife to pay is $421 dollars a month. Well I guess it’s ‘Judgement’time as we can’t afford $421 dollars a month.

My question is, what does a judgment consist of? What is it? What can they do or take? We rent a home have two cars in both our names, one’s paid off. And we both work full time with a joint bank account!

Anyone have any advice or what to expect when it comes down to a judgment?

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I see you're already down the river and over the falls :shock: .

The attorney for AAC wants $421 a month - doesn't mean the judge will automatically agree with them and not take your issues into consideration.

Consider that the worst case scenario is what is known as wage garnishment. Bascially, in most states, a judgment can be rendered so that up to 25% of your post-tax paycheck can be garnished. Some states limit that with other circumstances, i.e., child care costs, hardship situations, etc.

So if the $421 is more than 25% of your post-tax income, they're asking for more than the law would allow them to take under garnishment. If it's less than 25% (I'm guessing it is) the judge may see it as reasonable.

Be prepared to present evidence of your typical monthly budget to the judge if you want to challenge the $421. (Don't just up and offer it, wait until someone asks for proof of what you claim is your maximum amount).

In order to form the judgment, the judge will probably ask you about any assets you own, i.e., boats, other vehicles, savings accounts, (they can't come after IRA or 401K assets), stocks, etc. Don't get into a long-winded description of your financial situation in answering, just keep it to simple numbers.

IMHO, it is better to start by making an offer of a little less than what you can live with in your budget, but don't expect them to go for a lot less than they could get through garnishment. That's the worst-case scenario unless the judge really gets off the reservation and let's them take property from you, which is pretty rare unless the debtor has a ton of stuff.

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I see you're already down the river and over the falls :shock: .

The attorney for AAC wants $421 a month - doesn't mean the judge will automatically agree with them and not take your issues into consideration.

Consider that the worst case scenario is what is known as wage garnishment. Bascially, in most states, a judgment can be rendered so that up to 25% of your post-tax paycheck can be garnished. Some states limit that with other circumstances, i.e., child care costs, hardship situations, etc.

So if the $421 is more than 25% of your post-tax income, they're asking for more than the law would allow them to take under garnishment. If it's less than 25% (I'm guessing it is) the judge may see it as reasonable.

Be prepared to present evidence of your typical monthly budget to the judge if you want to challenge the $421. (Don't just up and offer it, wait until someone asks for proof of what you claim is your maximum amount).

In order to form the judgment, the judge will probably ask you about any assets you own, i.e., boats, other vehicles, savings accounts, (they can't come after IRA or 401K assets), stocks, etc. Don't get into a long-winded description of your financial situation in answering, just keep it to simple numbers.

IMHO, it is better to start by making an offer of a little less than what you can live with in your budget, but don't expect them to go for a lot less than they could get through garnishment. That's the worst-case scenario unless the judge really gets off the reservation and let's them take property from you, which is pretty rare unless the debtor has a ton of stuff.

As this is my wifes situation........... Would they inquire about my finances as well?

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