Please Please Read And Give Advice. Thanks In Advance

[imrankhan]

What is the name of your state?NY
I owe 7000 dollars on my credit card. I have my bank account frozen for tha reason (had about 2500 dollars in the account). I have enough money to pay of the debit collector. My question was should i try to settle of pay off teh full amount. Does it make a difference on my crdit report and how much of a difference. Secound my debt colector have stopped calling me for a month or so. Any reason why? do you think they hve sold my debt to someone else. If so, how do i find out and who do i pay. Also what kinda proof should i get once i am about to pay them off. can they take teh money that in teh account?thanks

[Debt Guy]

Whoa. Slow down. Lets think about this for a minute.

If your bank account has been "frozen", you really mean your bank account has been garnished? Right? That means the 2500 smackers you had in the account went bye-bye.

If your account has been garnished, that means the creditor has a judgment against you? Right?

If the creditor has a judgment against you, that means you were sued? Right?

If you were sued, then you received some sort of summons to appear in court? Right? You either ignored the summons or you lost the case in court.

That is the only sequence of events that can result in a garnishment of your bank account. First the summons, then the court hearing, then the judgement, then the garnishment.

Did you ever receive a summons? If not, check the statues in your state for service of process and see what types of process are allowed. Some states require it be delivered and placed in your hot little hands. Other states allow it to be published in the classified legal notices. Others are all in between.

If you determine that you were not served in accordance with the law, you can file a motion to vacate the garnishment and the judgment for lack of proper service. You can also get your money back.

Q. I owe 7000 dollars on my credit card. I have my bank account frozen for tha reason (had about 2500 dollars in the account). I have enough money to pay of the debit collector.

A. If you have the money to pay it off, why didn't you just pay it in the first place? Why did you go through all this misery?

Q. My question was should i try to settle of pay off teh full amount.

A. Settling will cost you less money. Paying in full will cost you more money. Do whatever you wish.

Q. Does it make a difference on my crdit report and how much of a difference.

A. No. Your credit is already trashed. It makes no difference. The only possible difference would be if you could convince the creditor to do a pay for delete. In other words, you pay, they delete the negative from your credit report. Sometimes it works, mostly it does not. You got nothing to lose by trying and perhaps a lot to gain.

Q. Secound my debt colector have stopped calling me for a month or so. Any reason why?

A. Yeah. They are garnishing your bank account. Why would they call you? Expect your wages to be garnished also.

Q. do you think they hve sold my debt to someone else.

A. Probably not. But, could be. Who is they?

Q. If so, how do i find out and who do i pay.

A. Call the creditor and ask. Or, go down to the courthouse and ask to see your file. Read it and see what it says. Pay whoever holds the judgment.

Q. Also what kinda proof should i get once i am about to pay them off.

A. Get a release (or satisfaction) of the judgment. This is a legal document that you then file with the court.

Q. can they take teh money that in teh account?thanks

A. You bank account cannot be "frozen" without a court order. Unless there is really something strange about NY --and I am not from NY -- then they already have a garnishment and your money is already gone. If I am off-base here, I am sure someone will correct me.