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LegalKnowledge, Attorney
Category: Legal
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I have received a notification for judgement on my credit card,

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I have received a notification for judgement on my credit card, I owe the money, however we are in hardship and cannot afford to pay at this time. They will not negotiate the debt down to a level we can afford, it could cause harm to my business (securities license) and possible deny my right to do business or cause harm as it is reported on my applications and FINRA.
Options? I can't afford to pay big fees for legal help...

Submitted: 4 years ago.
Category: Legal
Expert:  LegalKnowledge replied 4 years ago.

Hi and Welcome to Just Answer. I will be the expert that will be helping you today. I look forward to helping you solve your problem.

You stated they will not work with you to bring the debt level down but you stated that they offered you 12 cents on the dollar or roughly to pay 12% of the amount owed?

Customer: replied 4 years ago.
no, that was bank america, target bank is the one who is not helping...
Expert:  LegalKnowledge replied 4 years ago.

Have they sued you yet? If not, when was the last time you made a payment on this debt?

Customer: replied 4 years ago.
yes, and the have issued a notification of judgement
Expert:  LegalKnowledge replied 4 years ago.
Any defenses which you could have had or any chance at negotiating this to a lower amount, would have had to been raised and asserted when you were sued. At this point, your options are to try and get them to put you on a payment plan if you are unable to offer them a lump sum payment or consult with a Bankruptcy attorney to look over your financial situation and see if this is worth pursuing. If they have a judgment, they are not going to go away and they could likely sell the debt to a third party. If it it sold, the new owner may be more willing to negotiate with you, since they would have bought the debt for less then what is owed.
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