Lawyers.com > Discuss Your Legal Issue > Ask a Lawyer > Bankruptcy > Can a debt be settled after being garnished?

Can a debt be settled after being garnished?

1 Answers. Asked on Jan 24th, 2017 on Bankruptcy - Michigan
More details to this question:
I live in Michigan. I had a judgment entered against me. The amount owed is a large amount. I have since been garnished and have paid over half of the original amount of the debt. Since then the accrued interest and other fess have made the balance an unbearable amount to pay. I'm not trying to erase the debt but I want to offer a settlement of about 40% of the current balance. If I pay this amount along with the amount that I have already paid it will equal more than the original debt. Is this something that can happen? Can I file a motion for a judge to accept the settlement?
Answers Showing 1 out of 1
Answered on Jan 27th, 2017 at 6:45 AM

The judge can't compromise the amount, but, depending upon your financial situation, you may be able to get the creditor to do so if you can convincingly threaten bankruptcy. You may also just want to file bankruptcy if your situation makes that a good option. Good Luck. See a good local bankruptcy lawyer for either path.

David J. Hutchinson 106 N. 4th Ave Ann Arbor, MI 734-930-9000 dave@davehutchinsonlaw.com

Report Abuse
Bankruptcy
If you're struggling to pay off your delinquent debts and getting hounded by collection agencies, then it's time to address your financial problems. And filing for personal bankruptcy may be the ideal solution. Whether you're an individual or married couple considering Chapter 7 or Chapter 13 bankruptcy, or a business considering a Chapter 11 reorganization, or a farmer considering Chapter 12, you need the advice and guidance of an experienced bankruptcy attorney. Your lawyer can help determine which form of bankruptcy is right for you, prepare and file all of the paperwork, and advise you throughout the bankruptcy process.
Have an Bankruptcy Question?
It’s Free & Easy.
Ask a Lawyer
Top Contributing Lawyers
Mark Tischhauser, Esq.

Attorney - Florida

306 Answers, 19 Legal Topics

Patrick Johnson

Attorney - Tennessee

237 Answers, 43 Legal Topics

Michael D. Siegel

Attorney - New York

141 Answers, 26 Legal Topics

Michael E. Fiffik

Attorney - Pennsylvania

114 Answers, 21 Legal Topics

Lori Nevias

Attorney - New York

95 Answers, 33 Legal Topics

Bruce Robins

Attorney - New York

95 Answers, 8 Legal Topics

R. Sam Price

Attorney - California

93 Answers, 13 Legal Topics

Bankruptcy Local Law Firms  
In United States change location
×
Please select state Update
Do It Yourself Legal Forms
Go

Popular Forums