My girlfriend has three judgments against her; one for about $4,700, one for about $16,100 and one for about $2,800. I am trying to negotiate with the creditors who are now attorney officers that purchased the debts. I have two questions;
1. Is there a certain percentage of debt that these types of judgments normally can be settled for (i.e. 25%, 50%, etc.)? My girlfriend has no job and so there is no money for them to take. Do you feel if I hold out that I should be able to get them to negotiate down and take a partial payment from us to satisfy the full judgment?
2. One of the creditors/attorneys is requesting that we send in a completed “financial statement”. This financial statement is asking for income, expenses, and assets (etc.). I have read that I should never send in a form like this to a creditor. Do you agree? Should I NOT send them this financial statement and only send in a letter stating what we are willing to pay in exchange for them considering the debt paid in full?
If you are able to help it would be very much appreciated – THANK YOU! I also know these are somewhat detailed questions so if you can only offer some general thoughts and not dive into the details I completely understand.
Thanks and happy Holidays!