BackFromTheDebt Posted October 28, 2021 Report Share Posted October 28, 2021 14 hours ago, Phillio9 said: I lease my car- they cannot come for that, right? My only asset is my home and I’m not going anyplace. You should spend some time looking at SC laws. That is, could they put a lien on your home? If so, paying 80% now or 100% in installments will be a lot cheaper in the long run that having 100% plus interest on a lien against your home. Or else you would never sell it as long as you live. Quote Link to comment Share on other sites More sharing options...
BV80 Posted October 28, 2021 Report Share Posted October 28, 2021 43 minutes ago, BackFromTheDebt said: You should spend some time looking at SC laws. That is, could they put a lien on your home? If so, paying 80% now or 100% in installments will be a lot cheaper in the long run that having 100% plus interest on a lien against your home. Or else you would never sell it as long as you live. Yes, in SC, a judgment becomes a lien on a home. It lasts for 10 years. However, it cannot be renewed after that period expires. 10 years is the limit. Quote Link to comment Share on other sites More sharing options...
Goody_Ouchless Posted October 28, 2021 Report Share Posted October 28, 2021 16 hours ago, Phillio9 said: Looks like they will only settle for 80% via the atty’s office. Should I contact them directly? Unfortunately that is typical. The days of getting out for pennies on the dollar are long gone. Quote Link to comment Share on other sites More sharing options...
BackFromTheDebt Posted October 28, 2021 Report Share Posted October 28, 2021 Can they seize bank accounts in SC? The question is: is it better to pay off either 80% as a lump sum or 100% over time, or is it better to be “judgment proof” and ride this out for 10 years? For this small an amount it is probably better to just get it paid off, but that depends on your financial situation Quote Link to comment Share on other sites More sharing options...
Clydesmom Posted October 28, 2021 Report Share Posted October 28, 2021 23 minutes ago, BackFromTheDebt said: Can they seize bank accounts in SC? Bank accounts can be levied in every state unless the funds are exempt by law. If the funds are from a pension, SSI, SSDI, disability policy they cannot be levied. Up to 2 months worth is protected from levy. This is why consumers with debt with protected income should not have joint bank accounts as it places the other person's funds at risk for their debts. Also it is very important NOT to have non-exempt money in that account ever. ONLY protected funds should be in there. 1 Quote Link to comment Share on other sites More sharing options...
BackFromTheDebt Posted October 29, 2021 Report Share Posted October 29, 2021 9 hours ago, Clydesmom said: Bank accounts can be levied in every state unless the funds are exempt by law. If the funds are from a pension, SSI, SSDI, disability policy they cannot be levied. Up to 2 months worth is protected from levy. This is why consumers with debt with protected income should not have joint bank accounts as it places the other person's funds at risk for their debts. Also it is very important NOT to have non-exempt money in that account ever. ONLY protected funds should be in there. Well, there you have it. To the OP: Sorry to be the bearer of bad news, but unless your income is exempt, you have two choices: 1. Take a not very good settlement, or 2. Risk having your bank account frozen until you pay off what you owe plus interest. I had #2 happen to me. Not fun. Quote Link to comment Share on other sites More sharing options...
Phillio9 Posted October 29, 2021 Author Report Share Posted October 29, 2021 Thanks everyone. I gave it my best shot. I appreciate everyone’s input. Quote Link to comment Share on other sites More sharing options...
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