Q: What is the best way to negotiate unsecured debt lawsuit with the original Bank? I cant afford a lawyer
I have no assets that can be taken and no money.Im not working and applied for SS disability as it will be my only income when received Im 59 y old.How can I get the lowest possible agreement with the bank.I do not want to file bankruptcy.
A: Once the bank hands the account to the lawyer/law firm, you should deal with the law firm. Call them and tell them you want to negotiate a payment plan. You will have to offer them an amount that makes sense in relation to the debt. $25 a month on a $5,000 debt is silly, as an example. (If they decline your offer, don't tell them that's all you can afford and expect them to lower the payment. That's a non-starter.) If you can't come to terms, you are probably judgment proof anyway. Your SS cannot be garnished and if that's the only deposit into your bank account, your bank account is probably safe as well.
Terrence H Thorgaard agrees with this answer
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