Wage garnishments and collections
in Law ·
Daniel Martinez9,
You're mostly right, I guess. But quick fix on that advice about hitting up a notary or a law firm once you get hit with a judgment? They don't actually decide if you can do payment plans or whatever. You have to talk to the actual CREDITOR—you know, the people actually suing you. Also, your bit about paying "just the principal" is totally wrong. It doesn't even work like that. If someone tries to pay just the principal to dodge interest, they're out of luck. Under US law, once a collection process starts, any money you send goes toward legal fees first, then interest, and only then does it touch the principal. So yeah, paying just the principal amount? Doesn't mean a thing; you'll still be in the hole for fees and interest. Makes sense, right?
You're mostly right, I guess. But quick fix on that advice about hitting up a notary or a law firm once you get hit with a judgment? They don't actually decide if you can do payment plans or whatever. You have to talk to the actual CREDITOR—you know, the people actually suing you. Also, your bit about paying "just the principal" is totally wrong. It doesn't even work like that. If someone tries to pay just the principal to dodge interest, they're out of luck. Under US law, once a collection process starts, any money you send goes toward legal fees first, then interest, and only then does it touch the principal. So yeah, paying just the principal amount? Doesn't mean a thing; you'll still be in the hole for fees and interest. Makes sense, right?