Dealing with a Credit card company

[howdidithappen]

after they get a judgment - chase filed suit aginst me last summer and won a judgement - they then raided my bank account with the COurt's apporval - I was able to get all the money back as it was unearned income they took - they now want to deal with me agreeing to a monthly payment - anyone ever done this before? What is the procedure? Thanks!

[treehugger1]

In my opinion, if I were you and was set on making payments, you need to offer up the proposal. I'm currently attempting to write my own proposal, although I don't have a judgment. Perhaps you could start with a 50% reduction in the total amount owed, and ask for 1 - 2% payments over five years. Whatever you do, don't propose a plan that you cannot follow through on or you might be back to your curent state with all the fees, high interest, etc, tacked back on. There has to be benefit (utility) to both parties. JMHO

[keepmine]

after they get a judgment - chase filed suit aginst me last summer and won a judgement - they then raided my bank account with the COurt's apporval - I was able to get all the money back as it was unearned income they took - they now want to deal with me agreeing to a monthly payment - anyone ever done this before? What is the procedure? Thanks!

By unearned income, I take it you mean your income is from sources exempt from garnishment. If that's the case, you're driving the bus here.
Just try and drive as hard a bargin as possible. As treehugger suggested, don't commit to something you can't afford and by all means, get the deal in writing before sending a penny. Make sure there is language to the affect that the payment does satisfy the judgment and the unsettled portion is not to be sold, transfered or, assigned to any other party.
If your income is exemot though-why try and settle at all? Is bk on the horizon? That'll wipe out the judgment.