Debt Collection

[Circa]

Tastes like Chicken.

Now I hate to embark on all of your smarter selves and ask a question, But I will try to keep her simple.

I was just notified about a wage garnishment from my employer. It Is 25% of my gross and the debt Is $1,500. LVNV (Collector) now wants 5,400. I'll leave the ex out of this but It's a debt that occurred in 2003.

All jokes aside, can anyone give any encouraging advice to the matter?

 

[woolybug25]

For the poors?

 

[NorthDakota]

Tastes like Chicken.

Now I hate to embark on all of your smarter selves and ask a question, But I will try to keep her simple.

I was just notified about a wage garnishment from my employer. It Is 25% of my gross and the debt Is $1,500. LVNV (Collector) now wants 5,400. I'll leave the ex out of this but It's a debt that occurred in 2003.

All jokes aside, can anyone give any encouraging advice to the matter?

I worked in payroll in the past. Depending on your situation, they may accept smaller chunks.

Why the hell they want such a large amount is beyond me. I think ND law only allows up to 2x thr debt

 

[johnnycando]

Tastes like Chicken.

Now I hate to embark on all of your smarter selves and ask a question, But I will try to keep her simple.

I was just notified about a wage garnishment from my employer. It Is 25% of my gross and the debt Is $1,500. LVNV (Collector) now wants 5,400. I'll leave the ex out of this but It's a debt that occurred in 2003.

All jokes aside, can anyone give any encouraging advice to the matter?

File bankruptcy.

 

[Folsteam_Ahead]

Had you been making payments on the debt for any period of time? If it was just a stagnant outstanding debt for 14 years, then it's possible the statute of limitations has run. It depends on state law, but many states won't allow collection well before the 14 year mark. It may be worth meeting with an attorney and shouldn't take more than an hour of their time if you're willing to do the leg work in dealing with the collector.

 

[NDRock]

The total debt is $5400? Am I understanding this correctly?

 

[Wild Bill]

It's probably a little late to challenge validity of the debt, and I doubt they'll work anything out with you on a direct payment (garnishment is a sure way to get paid and why agree to less than what a court order allows?).

Bankruptcy is an option but there are facts to consider like income, assets and amount of debt you'd discharge. If this is your only debt, it's probably not worth filing. The court costs and attorney fees will be around $2000, and it really doesn't makes sense to file bankruptcy while paying 30-40% of what you owe to file. Better off just tightening the belt while you're being garnished (easier said than done, I know). Call a local practitioner and ask for a free consultation.

My best advice is not to put your head in the sand or let this defeat you. Do some research and handle the issue. Your credit will repair itself with time, provided you make good decisions going forward, and this will be a distant memory.

Good luck.

 

[connor_in]

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[wizards8507]

The total debt is $5400? Am I understanding this correctly?

Sounds like that has some interest and/or penalties in it.

 

[Cackalacky]

Start a Fight Club.

 

[dudexcore]

Give some handys. Ten bucks a pop.

 

[military_irish]

Baseball bat to the kneecaps. Oh wait I'm sorry I read it wrong. Thought you needed to collect a debt.

On that note, not sure in your instance. Sorry.