I lost a judment to a debt collector. I got a letter from the law office asking for money? I don't have the money to pay them.

Asked almost 2 years ago - Norristown, PA

I called the law firm that is representing the debt collector and asked for more affordable payment terms and that was denied. They counter and asked for money that is still not affordable to me. What should I do next. I don't want to file bankruptcy but it is seeming like it is the only solution because they are unwilling to take any affordable offer.

Attorney answers (3)

  1. Stephen M. Dunne

    Contributor Level 13


    Lawyers agree


    Answered . You could retain a bankruptcy lawyer to negotiate a settlement with the debt collector. A debt collector will think twice about accepting a settlement from a bankruptcy lawyer as the debt collector fully realizes that they will receive nothing ($0.00) if a client files bankruptcy.

    On the other hand, if you have a substantial amount of unsecured debt, a chapter 7 bankruptcy may be the best solution to reorganize your financial affairs. A fresh start may be the best solution for your situation.

    Call a bankruptcy lawyer and discuss your situation.

  2. Christian Andrew DiCicco

    Contributor Level 11


    Lawyers agree

    Answered . Why don't you want to file for bankruptcy?

    Legal disclaimer: The response given is not intended to create, nor does it create an ongoing duty to respond to... more
  3. Jacques H. Geisenberger Jr.

    Contributor Level 14


    Lawyers agree

    Answered . Whether you need to file for bankruptcy cannot be determined by the entry of one judgment, or for that matter the amount of other debt you presently have incurred. One of the determining factors in making the decisions as to whether you need to file for bankruptcy is the amount of assets you presently own or anticipate owning in the future, and what you present level of income. I would urge you to consult with a consumer debtor's attorney to further discuss your particular situation.

    Mr. Geisenberger is a Pennsylvania-licensed attorney only. The information is not, nor is it intended to be, legal... more

Related Topics


Bankruptcy is a legal way for people or businesses who are no longer capable of paying back their bills to clear these debts and start over.


There are different types of debt, but all involve one person (the debtor) owing money to another (the creditor). Terms of repayment are governed by a contract.

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