Financial Pickle

[Robert]

A few years ago i let a credit card unpaid balance go, thinking they would just write it off. Very poor stewardship on my part. I just got a letter from Bank of America telling me a law firm representing the bank of the credit card co garnished my checking account, and it put me into overdraft. ugh. I want to know if anyone knows the guidelines of garnishment like this??? I was hoping to begin paying off all my debt in chunks here and there, as i have a huge hospital bill due to all my heart troubles and being in and out of the hospital 3 or 4 times recently. I hate to think they can just take my money as it deposits into my account and i am left with who knows how much to live on???

Can I call this law firm and make a reasonable payment plan??? I appreciate any advice and all your prayers as this is a real scary and stressful thing to happen, my heart doesnt need it but i dug my own hole :(:uhh::eek: thanks everyone!!!

Robert

[Amie]

Robert,

This is not a lawyer and neither am I, so if you want to be sure find a lawyer that gives a free consultation. I find this informative:

http://www.edebthelp.com/can-a-debt-collector-garnish-my-wages-or-bank-account.html

If they haven't gotten a judgment against you, I don't see how they could garnish your wages. From what I understand (and again, this isn't professional legal advice by any means) if the debt owed is smaller than the cost of suing, they most often don't sue but just threaten to sue.

If you do make arrangments and they are not trustworthy (how many collectors are?), you can ask that they send the agreement in writing. Also, you can ask that they put "Paid in full" on your credit report once you have fulfilled your obligations (again, get that in writing if you can). Some of them fail to do that and doing so looks better on your report.

I am looking forward to hearing from others.

Amie

[Jotham]

Greetings Robert, and sorry to hear of your situation.

I've been in HR/Payroll for years and i do see this sort of thing often. As i don't know the details before it crosses my desk i really don't know what to say. There are proper guidelines they must adhear to for sure, but overall they are just doing their job (the collection agency). By the time it gets to them (the hired 'gun') the original client has usually exhasted all other avenues. . . though if i get your story right the bank did not contact you before you received the garnishment letter?

[Robert]

Amie & Jotham- thanks very much for your kindness. I just stopped paying back when i was breaking up with my fiancee and was in financial straits. I just hoped they would write it off as it was like 400 $ They sent me many letters and tried a few collection agencies then this law firm. A court passed a judgment on me for the debt and i hoped to somehow pay it down the road. The law firm called alot of times but never did anything till now. It is my own fault and stupidity in not handling my debt properly, I just want to be able to have money to pay alot of other debts as well as for food gas and to give my mom for living here with her. I just hate worrying they can take alot of my paycheck as i owe 8 grand now in total. Again, truly appreciate the prayers. A hard lesson right now.