What is the name of your state? Michigan
My wife is being sued by an attorney representing Bank of America for an amount of $8,765.17, which includes, principle, interest, court costs, and attorney fees. We've tried to reach an agreement with the attorney for the past couple of weeks, and are scheduled to appear in court on Monday.
We filed our response to the court requesting a reasonable settlement be reached on the principle amount, and that interest, costs and attorney fees be waived. We then received a Order for Consent Judgment from the attorney for the above amount, with all payments being made to attorney with interest. However, there's no mention of the amount the payment is to be expected.
We contacted the attorney and offered $1000 down and $100 a month on the original principle amount of $6271. They responded with an agreement of $1000 down and $200 a month on the same balance without interest. I find this balance to be acceptable, however we cannot afford $200 a month. Knowing that if we fail to make a payment, they can seek to have our wages garnished and assets liquidated, I'm uncomfortable committing to an amount I know we cannot afford.
We were told our best bet is to go to court and hope for a favorable judgment.
My questions are:
Is it reasonable to assume the judge is going to take our financial situation into consideration with us having no representation?
Is it likely that the judge will decide in favor of the original amount being sought, even though they (plaintiff) have accepted a settlement amount verbally with no additional interest?
Can the attorneys go after my wages also, considering the card was my wife's prior to our marriage?
I'm hoping very much to come to an agreement without going to court, however I'm being very cautious about making an agreement I know we'll fail to honor. I'm fearful things with end up worse after going to court. Any advice would be greatly appreciated.
My wife is being sued by an attorney representing Bank of America for an amount of $8,765.17, which includes, principle, interest, court costs, and attorney fees. We've tried to reach an agreement with the attorney for the past couple of weeks, and are scheduled to appear in court on Monday.
We filed our response to the court requesting a reasonable settlement be reached on the principle amount, and that interest, costs and attorney fees be waived. We then received a Order for Consent Judgment from the attorney for the above amount, with all payments being made to attorney with interest. However, there's no mention of the amount the payment is to be expected.
We contacted the attorney and offered $1000 down and $100 a month on the original principle amount of $6271. They responded with an agreement of $1000 down and $200 a month on the same balance without interest. I find this balance to be acceptable, however we cannot afford $200 a month. Knowing that if we fail to make a payment, they can seek to have our wages garnished and assets liquidated, I'm uncomfortable committing to an amount I know we cannot afford.
We were told our best bet is to go to court and hope for a favorable judgment.
My questions are:
Is it reasonable to assume the judge is going to take our financial situation into consideration with us having no representation?
Is it likely that the judge will decide in favor of the original amount being sought, even though they (plaintiff) have accepted a settlement amount verbally with no additional interest?
Can the attorneys go after my wages also, considering the card was my wife's prior to our marriage?
I'm hoping very much to come to an agreement without going to court, however I'm being very cautious about making an agreement I know we'll fail to honor. I'm fearful things with end up worse after going to court. Any advice would be greatly appreciated.
