Video instructions and help with filling out and completing How Form 843 Garnishment

Instructions and Help about How Form 843 Garnishment

Jean is with us in Phoenix hi Jean welcome to the Dave Ramsey show how do you how are you better than I deserve what's up good it is how to question I just recently lost my job and I have had a judgment against me for an old credit card debt that is extremely old and they've added an interest and everything to it and they're trying to collect about $14,000 from me on this debt and other than the state of Arizona that the judgment is from another state in Las Vegas and I have contacted lawyers I've done consultation season everything Arizona layers say I have to hire Nevada layer when I talk about it layers they say come in Arizona they can't help me so I'm just kind of stuck and I'm not sure what to do and how I can get rid of this stuff okay what was the original amount you borrowed it was off of the Discover credit card in their original amount that I owed on it was somewhere between two to three thousand dollars and it's escalated to 14,000 over a number of years with legal fees and so forth correct you have any money I just might talk they don't okay so it's not relevant today you can't do anything about it anyway right okay so when you get another job your first goal is going to be or one of your goals is going to be to save up $2,000 and then I want you to just call the law firm and begin to negotiate with them the original amount I owed you guys owed discover was $2,000 I'm broke I have no money I'm single I make no money you do not give them any information about where you are what state you're in you don't tell them where you work you don't tell them anything okay does it alone I never did before and they just started garnishing my wages from my other job and then my main concern is that this also has never been on my credit doesn't I have I have really good credit and I don't matter right that's not relevant what's relevant is is this is screwing up your life your credit is way down the list of things to worry about we got to get this thing out of your life so you begin at $2,000 they're not going to take it when you call them but you're going to make them that offer and you're going to begin to negotiate and you're just going to cry poor mouth is what we call it you know what that means no when you say your poor mouth means you talk about how poor you are okay and how you got no money and how you can't I don't have any money and I can't pay you all I've gots this $2,000 and that's what I owed you guys originally I've got that saved up I can give you that as settlement in full you understand what I mean that they accept that as settlement and the whole debt goes away they accept the two thousand and then if they don't take it just keep saving money and they're not going to take it you're going to keep talking to them every so often not ten times a day not ten times a week once every two weeks you have a discussion with them okay and you continue to negotiate with them and continue to tell them how poor and how broke you are and then when you get up to 2,500 you say you know I've save another five hundred I can give you that well send us that and then we'll do payments no my financial coach told me not to do anything with you unless three things happen one is that I settled it in a lump sum if you got a pencil uh-huh write this down you have to settle it in a lump sum no payments number two you have to get the agreement in writing from them so they have to send you an email or a letter okay so that you've keep talking to them keep talking to them finally you've saved up two thousand three thousand and whatever is finally you talk them into taking that as a lump sum settlement in full reference point number one and reference point number two is then they send you an email or a letter saying we will accept that amount of money whatever it is twenty-five hundred dollars by such and such a date yeah settlement in full on this account and it makes the account go away completely you following me yes the third item there's three things you have to write down the third one is do not allow them to have electronic access to your checking account is they'll want a SAP your checking account for the money and that's not possible it's not in my checking account it's in a shoebox in my living room I don't have it I don't have a checking account I can't let you because if you give them electronic access to your checking account they'll clean you out because they lie great yes law firms lie I know it's shocking but they do and so you have to you have to maintain the stiff-armed approach where you keep them at bay you don't let the dog get close enough to you to bite you you following me yes okay now then what you do is you send them a money order or you send them a wire with a Western Union or whatever after you get it in writing if you give them money before you get it in writing you will have to start the whole process over again because they'll act like nothing ever happened they'd like they had no agreement with you mm-hmm

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