I have a judgment from Nations Account Receivables

I have a judgment from Nations Account Receivables Management in excess of $32K, they garnished my wages roughly $13K, now I am unemployed. NARM sent a settlement letter in 1/10 of $11K before they started garnishment that went to ex-wife's mail, bummer for me. I'd like to send a pay for deletion settlement letter and offer $1K. The law firm who brought the suit and garnishment went out of business in March 2011. Would contacting the unemployed lawyer who filed judgment to see if he'd assist me a good idea or should I go directly to CA to start chipping away there? Any background on Nations Accounts Receivables Management, Inc?

2 Answers

How is it that the value of my debt diminishes yet I am still liable for the total amount? A share of stock is only worth what one is willing to pay. The original creditor got the full value as a write off against profits yet my feet are being held to the fire. I am not a dead beat, my debt was a result of a nasty divorce, however as a result I am not able to contribute to the economy. Debt amnesty for honest victims is absolutely necessary to unplug the logjam. Banks and credit card companies preyed on people to grow profits only ending up shooting themselves in the foot. Okay, I step down from my soapbox.

How do I find out if who owns the debt now? I found the now unemployed lawyer who filed the judgment on LinkedIn. I thought to contact him to see where is loyalty lies now. Risky I know but don't know where to turn. I rented my property and the tenants have expressed interest in buying. There is little to no equity but I'd like to clean up the deed and my credit. Any help would be greatly appreciated.

Are you sure the attorney bought the paper?  Or was it simply assigned to him?  Even if the law firm bought it, it was probably sold off to another firm.  Your judgment was would be worth $18K plus interest...I really dont think anyone would settle for $1k even if you are unemployed....it would be worth it for them to wait it out.

Pay for deletion for a judgment account??  Aint going to happen.....


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