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I have a time share that has gone into collection I owe $5,400

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I have a time share that has gone into collection I owe $5,400 and I would like to know what is the minimum monthly payment I could make so they can't get a jugdment aginst me.
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Law Girl replied 8 years ago.

Thank you for your question.


Absent an agreement with your creditor to accept less than the amount owed, your creditor can obtain a judgment against you at any point that you are not making the required monthly payment. Although it is probably not cost effective for them to take you to court unless you are a couple of month's delinquent, they still have the ability.


Please let me know if you have any other questions, or require clarification of this matter. Otherwise please hit "ACCEPT", so I may receive credit for my response. Tips and feedback are also appreciated.


Good Luck!

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