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Is Garnishment on the Way?
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Posted by Shewa (67.64.11.85) on October 18, 2003 at 11:02:11:
While living in the state of Oregon, I worked for three separate companies that either downsized or filed bankruptcy. Each time, I obtained unemployment benefits until another job could be found. During 1998, I was unable to find employment for an extended period. I contacted the two credit card companies, explained the situation, and requested to lower my monthly payments. The response was less than cordial. Up until this time, my FICO score was close to 700 all my working career. I accepted a relatives offer to move out of state where job prospects were better. In Feb. '99 I became employed and have been so since then. The original debt between the two credit card agencies totalled less than $4k. Again, I offered to begin a payment program once I was employed, but was met with hostility and informed I must pay the entire amount immediately. During this time, I have not made a single payment. For the first time last week, I received a call from a collector at work, who left a message on my voicemail. This is the first time this has ever occurred. The balance has now ballooned to almost $12k with interest. I own no assets, am consistently making payments on my vehicle and earn $34k. Due to the high balance, am I a prime candidate to have a lawsuit filed and my wages garnished? Is there anything I can do to work with this agency to accept a reasonable repayment plan? I do not want to consider bankruptcy as an option. Any kind words of assistance from you would be greatly appreciated.
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