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Being by a Debt Collector

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gemini4776

Junior Member
What is the name of your state (only U.S. law)? CA

I'm being sued by a debt collector who purchased my account from Direct Merchants Bank for a credit card from 2004 for approx 2100.00. I tried repeatedly to settle for a lesser amount after being continuously harrassed by the collector who would not budge. Now the fees, interest and principle total over 5k and the lowest they are willing to go is 5k w/monthly payments of 500 per month, which I cannot afford.. I go to court next Wed. 11/19. I have acknowledged the debt; however am not sure that the amount is exact; in addition, i believe the interest rate and fees are excessive and did request a copy of the original contract. They only sent me bills from 5/04 to 9/04 and said they could not locate the original contract. When I inquired about it, I was told that they did not need it. I'm really concerned that my wages may be garnished. Help!
 


eli4625

Member
If

If the collection agency is not willing to come to an agreement, yep you will get garnished. There is a formula they use, so bring with you all your bills and a couple of pay stubs to show what your income is and what your monthly expenses are. But unless you live in a state that doesn't permit garnishments (man I wish I did) you will probably get a garnishment against you.
 

delta29

Junior Member
Can family members be garnished if no one co-signed on the account? I am listed on my dad's bank account just in case of emergency and he becomes unable to make any decisions.
 

Antigone*

Senior Member
Can family members be garnished if no one co-signed on the account? I am listed on my dad's bank account just in case of emergency and he becomes unable to make any decisions.
In the eyes of the law that bank account is YOURS just as much as it is his and is vulernable to being levied for any judgement against you.

My suggestion to you is to remove yourself from that account. Most banks will require the closure of that one. You can speak to the bank about having power of attorney.


Yikes...i just realized this was a hijack. Sorry OP.
 

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