Credit Cards, Rating, Repair Credit Card debt situation and questions

[Boom1]

I have a CC debt that went all the way through court and the final settlement amount was $3000. Before they ruled it a judgment in a court of law I was under a tentative agreement to pay that amount. I wanted to settle for $2000 at the time but I was unaware of how the process works, where a lot of the time you can give them a figure to settle and most of the time they say "yes" within reason. I ended up owing the $3000.

I have paid $2500 of this debt within the last 4 months while unemployed (laid off from my job in November 2011 and looking for work). I just don't have any more money to give them at this current time because of my unfortunate situation. I am sure anyone could understand this position. But they keep calling me and threatening me saying that they will not settle this amount at what I have paid already, and they stated I have a month to pay it or else. Even after I have explained my situation lucidly at least three times! What is the worst that could happen? The lady who I talk to seems like they can settle this amount as is, but I am sure she is just waiting me out to see if I will pay what I don't have. What can I do with this situation, I want to be done with it and not pay anymore if possible.

The debt company is Global Acceptance. Also does anyone know about them?

 

[army judge]

Google the name you referenced.
It'll open your eyes.
There is nothing more they can do to you.
You didn't have to pay the $2,500.
You had no money from which they could have collected the judgment.

Change you telephone number, keep it unlisted and unpublished, and don't give the new number to anyone.

The calls will stop.




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[Boom1]

Army Judge I appreciate the response. Will this go onto my credit report if I don't pay the full amount? I don't believe that it is on there now. I really don't have to pay the rest? Will they eventually settle on that amount? Will they garnish my wages for the remaining 500 dollars? I live in Illinois if it makes any difference...

Thanks.

 

[army judge]

I have no idea what these crooks will do.
If they have obtained a judgment against you, they could try to attach your wages.
They might just let it go, being satisfied they got lots of your moola.
Your credit is shot because of the judgment and the late payments (or non-payments) that precipitated the judgment. It'll take it years to get better.
Have you considered bankruptcy?
Do you have other bad debts?
You might want to investigate bankruptcy.
You can have a free chat with a local bankruptcy attorney and find out if it is right for your


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[Boom1]

Thanks for the response again, but yeah it's kind of depressing to have to deal with these people on a weekly basis. As is, I told the the law firm I am done making payments on the account and that they are going to have to settle it the judgment and get lost because I am unemployed. I do not have anymore outstanding debts. This is the only one, and I do not plan on ever getting in this situation again. Who the hell knows what is going to happen anyways with the future of our economy, but my name is hopefully cleared soon!