Default judgement and inheritance

[Ilovemom1935]

What is the name of your state (only U.S. law)?
Michigan

I have a default judgment of $18,000. It is 6 years old. I am on Social Security Disability and am 62.
My mother passed away 6 months ago and I will be receiving an inheritance. It's a little less than the judgement.

These people were not easy to deal with - credit union.

How likely are they to keep an eye on my account. They've never tried to levy my bank account.

I was just going to cash the checks and take the cash and pay some bills.

I have considered calling them and asking to either negotiate a new amount or set up payments.
But I'm afraid they'll think there's more money and want it all.

Any advice is sorely appreciated
Debbie

 

[FlyingRon]

The inheritance is fair game. If you put it in an account comingled with your SS funds, you can lose those as well. Hopefully your accounts are NOT at the credit union.

 

[adjusterjack]

How likely are they to keep an eye on my account.

No way to predict.

I was just going to cash the checks and take the cash and pay some bills.

Good idea.

I have considered calling them and asking to either negotiate a new amount or set up payments.

Bad idea.

But I'm afraid they'll think there's more money and want it all.

Best to let sleeping dogs lie.

 

[Zigner]

I suppose you could use the judgment proceeds to pay off, or at least reduce, the amount owed to the judgment creditor. I know, it's a whacky idea, but it might be good for you.

 

[latigo]

What is the name of your state (only U.S. law)?
Michigan

I have a default judgment of $18,000. It is 6 years old. I am on Social Security Disability and am 62.
My mother passed away 6 months ago and I will be receiving an inheritance. It's a little less than the judgement.

These people were not easy to deal with - credit union.

How likely are they to keep an eye on my account. They've never tried to levy my bank account.

I was just going to cash the checks and take the cash and pay some bills.

I have considered (?) calling them and asking to either negotiate a new amount or set up payments.
But I'm afraid they'll think there's more money and want it all.

Any advice is sorely appreciated
Debbie

You'd like to get the cash and pay "some" bills? How about the bill that is owed the credit union?

Incidentally, Debbie deadbeat how much time did you spend "considering to call the credit union" so that it might somehow share your free lunch? A nanosecond, or two?

 

[Ilovemom1935]

The reason is because I owe $18,000 and that is about what my inheritance. So if I paid it off, there would be no money left. Unless i offered a less amount.
And I'm not deadbeat. I just fell on hard times, I lost my job, my house and am now receiving Social Security.

 

[quincy]

The reason is because I owe $18,000 and that is about what my inheritance. So if I paid it off, there would be no money left. Unless i offered a less amount.
And I'm not deadbeat. I just fell on hard times, I lost my job, my house and am now receiving Social Security.

You could try to negotiate with the credit union for an amount less than the $18,000 owed. The credit union might be amenable to accepting the amount of your inheritance (maybe less). If they have a judgment, however, they do not have to accept anything less than what is owed.

Good luck.