How can I get a creditor to accept my offered payment?

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How can I get a creditor to accept my offered payment?

I owe money for a car that was repossessed. They took me to court apparently received the judgment but I was never notified of court date. Now finally I have contacted them and explained I can afford not more than $75 a month and sent a budget plan. My bills are $2200 a month and I make just under $2400 guaranteed a month; it is very tight. They said they won’t take anything less then $150 but that will break me. They’re are always extra bills that come out of no where. I gave my monthly payments not all my past due payments. What can I do before they garnish my wages because that is what they say they will do?

Asked on January 5, 2012 under Bankruptcy Law, Michigan

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Unfortunately you cannot force the judgment creditor to accept the amount that you have offered to try and reduce what is owed on the judgment against you. All I can suggest is that you continue to stay in contact with the creditor's representative and try to negotiate out a deal that you can afford on a monthly basis.

I realize that economic times are tough. Possibly you could consider getting a second job on a part time basis to bring in a little bit of extra income to assist in your bills?


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