MICHIGAN - Help! I have a judgement against me for a past debt. I have a court date for tomorrow that was brought on by me filing an objection to a garnishment. I seriously want to get this debt taken care of as it's the only thing left tarnishing my credit. I would like to know if I have any rights when it comes to them garnishing my wages or bank accounts? Also, how should I go about bargaining with them about reducing some of the amount of the debt. Thanks for your help.
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Judgement/Wage Garnishment/Court Date-HELP!
- Thread starter TiBooPo
- Start date
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Your state should have some limitation on the garnishment. Your rights would including getting to keep the difference and put that in a bank where they can garnish the rest of it (so you'll end up just cashing the check at the bank it is drawn on, and living life for a while without the use of a bank).
Why would they want to bargain for a reduction when they now have the power to get every penny they won in court? They only bargaining chip you could hold on them is bankruptcy and creditors hardly ever consider a mere bankruptcy threat.
Why would they want to bargain for a reduction when they now have the power to get every penny they won in court? They only bargaining chip you could hold on them is bankruptcy and creditors hardly ever consider a mere bankruptcy threat.
TigerD
Senior Member
Bankruptcy threats are like suicide threats. The people who talk about don't do it. The ones who do it, don't threaten. They just do it.
DC
Thank you for the input. This may not make any difference but I was wondering anyway. I believe this debt is from a credit card that had $300 credit limit from about 13 years ago. The debt is now at $7000. This is why I thought I may have some bargaining rights or leverage. I'm willing to pay up on some debt, but $7000 seems really excessive. The interest on that is insane..
$7,000 in 13 years is not that insane. You not deprived the creditor of their time value of money.