I have 3 accounts that is in collection with the same Collection agency. I told them that I can only afford to make $50.00 monthly payment, for I just recently began working after 2years. The debt in total is $2,000 and its about 10 years old.They said it is not enough and they need $200.00 per month. I do not want these people to garnish my salary from my new job for I may be fired for I do work with cash transactions. Once I send them the $50.00 amount can this stop them from going any further?
Country relating to Question: United States
Spoke to them and stated that I can afford to send $50.00 beginning 8/3/12
Thank you for your question.No, if your account is in default, the collection agency does not have to accept a monthly payment. If you come to an agreement regarding monthly payments, you should get that in writing so the understanding regarding payments is clear.Some things to keep in mind about wage garnishment: First, before the collection agency can garnish your wages, it would first have to file a lawsuit in which you could allege any relevant defenses. You can also ask the court to implement an order of installment payments, or come to that agreement in court with the collection agency. The second thing to consider is that if a judgment enters against you, each state has its own protections regarding collection. In some states, for example, the head of household may claim an Exemption which would stop a wage garnishment.Finally, most states have laws which prohibit discrimination in employment on the basis of an employee's wages being garnished.
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