QUESTION
What are our options with regard to my husband's garnishment?
Asked on Jun 13th, 2014 on Bankruptcy - Louisiana
More details to this question:
My husband has a garnishment against him that is from 2008. It started as $2,477 and is now up to $10,676 with penalties. We have paid $4,636 already but they said the penalties will keep growing until paid off. Should we just bare down and pay it all off or is there something else I should do?
1 ANSWER
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First, I would contact the creditor and get a payoff. Ask them to show how they calculate interest, and check their balance. Second, you should contact your husband's employer for a list of payments and make sure you received credit for each and every one. If the amount owed is accurate, you can negotiate a settlement by noting they will be garnishing him for ever at this rate and a settlement would be money in hand. Depending on the policies of the creditor, you may be able to get a cents on a dollar final figure.
Answered on Jun 18th, 2014 at 9:31 PM