What will I do if firm does not want to accept our requested terms to pay our debts we can't afford to pay ful?
September 5th, 2010 | 
Author: What will I do if the firm does not want to accept our requested terms and capacity to pay our debts? Thwy want us to pay the whole amount but we cannot because we are in deep financial crisis we can only afford a monthly payment and not teh whole amount.We have been sending them letter of request but they always decline we habeen explaining everything we are very much willing to pay given the acceoptable terms but instead they send us summon. what will I do.
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They are not required to accept "your terms". If they’ve sent you a summons make sure you show up.
You go to court and tell the judge that you have offered to make payments on the account but that the creditor refused. Tell the judge your offer still stands and you are willing to enter an agreement to make the payments. Be advised you must make a good faith effort to pay the bill (i.e., don’t offer $5 a month).
Do not fail to answer the summons and do everything the court asks you to do before your court date. If you don’t answer the summons, the court will enter a default judgment against you and possibly set terms of payment you can’t afford. Failure to make those payments (or the payments that you agree to) will result in the creditor going back to court and getting a court order for wage garnishment, seizure of assets, attachment of assets, etc.
Sounds like you will go to court and lose. They will get a judgement, and they will begin garnishing your wages.
I’d suggest you start bringing in more income and spending less. Do you have more than one job? Do you deliver papers before work? Do you mow lawns on the weekends or babysit? Can you deliver pizzas in the evening?
In short, quit whining and go make some money. Not sure why people these days think that they can just make excuses. Our grandparents would do whatever it took to pay their bills. Why do people today not have that same ethic?
They don’t have to accept your terms. They have every right to demand full payment now. There is no such thing as "good faith" payments. It is an urban legend that collectors have to accept whatever small payment you want to send.
The collection may decide to sue to collect the debt. They will win a judgment and with that judgment they can garnish wages up to 25%, attach bank accounts, and lien property.