Any Possibility to Dismiss Current Garnishment?

[Fullermom]

In 2001 we (my husband and I) entered into a Home Equity Credit Line with Beneficial (now known as HSBC) for $19500. In 2003, we became unable to make agreed payments due to lack of self-employment income. By the time we were served the summons in August 2006 for Complaint for Money Owed, the principal amount was $19644.77 and interest was $10492.97 resulting in a balance of $31434.38. A stipulated judgment was ordered in November of 2006 for monthly payments to be made in the amount of $405.91 continuing until judgment is paid in full including all pre and post-judgement interest which was lowered to the statutory rate of 8.75%. Failure to make payments under the terms of the judgment (we couldn't make them before the judgment and nothing had changed significantly) resulted in a writ of garnishment. Soon after my husband took on outside employment with hourly pay and has improved his job position and salary to his current status. From November 2006 through June 2010 they have garnished $38072.95 (over $400 every 2 weeks!) and told us we still have a balance of $10748.43! (We only received one printout of payments made over the last 4 years after I called 3 times to request one from both the finance company and the lawyer's office.) Currently we have paid double the amount of the original loan and will surpass that by over another $10000 should we ever get to the end of the garnishment. Is is fair practice for them to collect so much more than what the loan or default amount was or at what point, if any, do we have any recourse to have the garnishment dismissed - can we file a motion with the court? We've never denied owing the bill or attempted to evade payment...like so many people during difficult times we simply paid what was necessary at the time. But we feel we have paid more than our debt and are now just lining the pockets of another company that seeks to take advantage of other people's misfortune.

 

[army judge]

In 2001 we (my husband and I) entered into a Home Equity Credit Line with Beneficial (now known as HSBC) for $19500. In 2003, we became unable to make agreed payments due to lack of self-employment income. By the time we were served the summons in August 2006 for Complaint for Money Owed, the principal amount was $19644.77 and interest was $10492.97 resulting in a balance of $31434.38. A stipulated judgment was ordered in November of 2006 for monthly payments to be made in the amount of $405.91 continuing until judgment is paid in full including all pre and post-judgement interest which was lowered to the statutory rate of 8.75%. Failure to make payments under the terms of the judgment (we couldn't make them before the judgment and nothing had changed significantly) resulted in a writ of garnishment. Soon after my husband took on outside employment with hourly pay and has improved his job position and salary to his current status. From November 2006 through June 2010 they have garnished $38072.95 (over $400 every 2 weeks!) and told us we still have a balance of $10748.43! (We only received one printout of payments made over the last 4 years after I called 3 times to request one from both the finance company and the lawyer's office.) Currently we have paid double the amount of the original loan and will surpass that by over another $10000 should we ever get to the end of the garnishment. Is is fair practice for them to collect so much more than what the loan or default amount was or at what point, if any, do we have any recourse to have the garnishment dismissed - can we file a motion with the court? We've never denied owing the bill or attempted to evade payment...like so many people during difficult times we simply paid what was necessary at the time. But we feel we have paid more than our debt and are now just lining the pockets of another company that seeks to take advantage of other people's misfortune.

You will never win with these people.
The people STEALING your wages are scumsucking, debt collectors.

HSBC wrote this debt off in 2001.
The bottom feeding debt scavengers bought your debt for about 2-3 cents on the dollar.
You've paid them more than double your debt.
You've paid these terrorists almost 70 times what they spent to buy the debt from HSBC.

You would have been better off hiring a lawyer for $5,000 nine years ago.
If I were you, I'd speak with a several lawyers and fight this.
It hasn't helped your FICO score, either.
It has taken food out of the mouths of your family.

Please, speak to some lawyers tomorrow.
Do what you must to free yourselves from the clutches of these evil con-artists!!!!