California | Civil Litigation
Legal Question
Will a collection agency settle with me after 6 years which is now a judgement
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Legal Answer
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Read More Answered By: Herb Fox |
There is certainly no harm in asking. You should consider other options, though, such as bankruptcy if you are under water on other obligations, etc. Another factor is how old the judgment is - if it is very recent, you still might be able to set it aside and contest the debt. And don't forget that you might owe more than you think - the judgment has been earning 10 per cent simple interest since it was entered, and will continue to do so for 10 years and, if renewed, even longer. You should consult with an attorney before you make a decision, and perhaps have that attorney negotiate on your behalf. |
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