Default Judgement on a Credit Card Debt
I,under duress, agreed to settle an account on a credit card debt and the collection agency got a Court Judgement against me for the (grossly inflated) amount. Now, they have a Default Judgement against me because I did not satisfy the agreement.
My guestions - 1. What can they do now?
2. What can I do now?
The judgement was in the state of Minnesota. I live in Texas.
Should I call them to try and work something out?
Reply from DebtCollectionAnswers.com:
You can certainly try to settle the judgment like any other debt. If you can come up with the cash to settle, that might be a good strategy. But remember, now that they have a judgment against you, they may have more information about your finances than they did before. And they may have additional remedies for collecting. (Wage garnishment is typically not permitted in Texas.)
If you want to know what property you have is safe from the judgment creditor, and what is at risk, it would be a good idea to talk with a bankruptcy attorney to find out.
If you think the judgment was erroneous, you can talk with a consumer law attorney to find out whether you can try to get it vacated. The attorney will tell you what's involved. You don't state how much you owe, so we're not sure whether or not it will be worth it. But if you think they may have broken the law attempting to collect from you, it might be worth finding out.