Re: judgement

Posted by LadynRed (199.91.33.254) on July 24, 2003 at 09:50:24:

In Reply to: judgement posted by cathy on July 24, 2003 at 00:48:21:

They can garnish your income, for one (if you're not in NC, SC, TX or PA). The BIG problem with being self-employed is that you don't get a 'paycheck'. Your income is considered 'receivables' and as such they can take it ALL ! They can sieze your bank account and drain it dry.

There are exemptions, so they can't just take everything you have. We'd need to know what state you're in to know what those are.

If your car is financed, its safe. If you own it outright and its worth more than the exemptions, they *could* grab for it or place a lien against it.

You need to figure out a payment plan that YOU can afford, put it in writing and send it to them certified, RRR. You can also fax it to them but do NOT agree to ANYTHING unless you get it in writing (including signatures). If you have money to make a settlement, send them a settlement offer. Start by offering 25-30% and go from there, leave yourself negoitating room.

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