Help with Summons

[tcotrav]

What is the name of your state? Washington

Apparently a person came to our door the week before Father's day and asked to see me, then asked my wife who she was. When she told them she was my wife, the person somply handed her an envelop and said, "Here". My wife, bless her heart, failed to mention this to me until last night. It is a summons and the 20 days has passed, but the letter attached to it from the attorney states that I have 30 days to contact them, which has not passed but rapidly approaching. This whole thing is about a vehicle that was repoed in 2000. Long story short, the debt ($5200 +) and interest ($4700+, accruing at 20% since January of 2000) are not something that I have on hand, so I need to know what I can do to satisfy the debt without having wages garnished or losing any other property. Help!!!!!!!

 

[I AM ALWAYS LIABLE]

What is the name of your state? Washington

Apparently a person came to our door the week before Father's day and asked to see me, then asked my wife who she was. When she told them she was my wife, the person somply handed her an envelop and said, "Here". My wife, bless her heart, failed to mention this to me until last night. It is a summons and the 20 days has passed, but the letter attached to it from the attorney states that I have 30 days to contact them, which has not passed but rapidly approaching. This whole thing is about a vehicle that was repoed in 2000. Long story short, the debt ($5200 +) and interest ($4700+, accruing at 20% since January of 2000) are not something that I have on hand, so I need to know what I can do to satisfy the debt without having wages garnished or losing any other property. Help!!!!!!!

My response:

What do you mean by, "I need to know what I can do to satisfy the debt".

Uh, pay it?

IAAL

 

[bonowens17]

help with summons

HI :

First thing try and contact lawyer with some kind of payment plan try 15% of your take home pay because they can get a judgement and attach wages for 25% of wages, ask to have a stipulated judgement, this will be better than legal fees and then paying 25% also intrest can only be added by a judge or judgement so they will negotiate the amount of intrest.

 

[tcotrav]

My response:

What do you mean by, "I need to know what I can do to satisfy the debt".

Uh, pay it?

IAAL

Thanks for the pithy response. The issue is not whether to pay or not, but what possibilities exist for alternatives to lump sum payment. Thankfully someone else in this forum offered some worthwhile information.

 

[tcotrav]

HI :

First thing try and contact lawyer with some kind of payment plan try 15% of your take home pay because they can get a judgement and attach wages for 25% of wages, ask to have a stipulated judgement, this will be better than legal fees and then paying 25% also intrest can only be added by a judge or judgement so they will negotiate the amount of intrest.

Thanks for the info. You said that the interest must be set by a judge, so for them to negotiate the interest rate, it would seem that nothing is concrete at this time. Are you referring to interest attached to a judgement or previously accrued interest? I took a look at my credit report, and it shows that the creditor 'charged off' the debt in 2003. Does this do anything to stop interest from accruing, or am I pretty much sunk?

 

[Ladynred]

I took a look at my credit report, and it shows that the creditor 'charged off' the debt in 2003. Does this do anything to stop interest from accruing, or am I pretty much sunk?

Unfortunately a charge-off doesn't do a thing to stop interest from accruing. In fact, it can get worse if there is a higher interest rate allowed in the contract if you default.

You should definitely call the attorney and try to make arrangements. If can get an agreement, get it in writing. If you can avoid a 'stipulated judgment' or 'consent to judgment' that would be even better, but they will likely demand it as a matter of course. What that means is they'll take your agreement and payments, but if you miss a single payment or are even late, the judgment will be entered against you and they'll go straight for garnishment, bank levy or siezure of non-exempt assets.

 

[bonowens17]

I understand sometimes it is difficult to get a straight answer, but there are some here who offer help.

As to intrest, I was speaking of intrest on judgement or from the amount and time they are asking for in the summons, in fact I beleave that they are only allowed to ask that intrest be awarded if judgement is awarded.

Also I have found out that Collection agency or attorney who filed complaint will sometimes negotiate attorneys fees.

If you have available some cash as to pay 1/2 cash now alot of collection companies will accept this offer, since it is a lump some. Example my husband had car with his ex and loan amount was $15,000 collector sent letter offered to settle debit in full for $5,600, then two weeks later made second offer to settle for $1,600 even know debit really belonged to ex we paid the $1,600 to show paid in full better than the $15,000 showing bad credit. So it is possible to lower but you are pressed for time act fast.

 

[I AM ALWAYS LIABLE]

The issue is not whether to pay or not, but what possibilities exist for alternatives to lump sum payment.

My response:

Gee, thanks for clarifying (a little late, but thanks). Next time, I'll use my crystal ball to determine what you ACTUALLY want. It would actually help if you say what you mean in your INITIAL post, rather than have us guess; i.e., instead of a vague question like, "I need to know what I can do to satisfy the debt", which is open to interpretation.

IAAL