How can I get a $4800 loan to pay off my judgement with a debt collector with a 572 credit score?

I live in NJ, been working close to 5 years, applied for a loan at my credit union today and was denied. The paralegal who I talked to said that I have until the 25th of Feb. to pay it off. The only thing is if I choose montly payments then I will still have interest and also I will still have a judgement against me. What can I do?

How can I get a $4800 loan to pay off my judgement with a debt collector with a 572 credit score?

How many questions did you ask your credit union when applying for the loan? There are many different ways to get a loan, it just depends on how you go about approaching it. Do you have anyone who would co-sign with you? Do you have anything that you can put towards the loan? Maybe a vehicle for collateral?

If you have been a member with the credit union for some time, then they should be able to cut you a little bit of slack. Be sure to ask more questions and be completly thorough about your situation. Depending on how much they value their members, they should at the very least tell you who else can help you if they cannot. Credit Union are member owned, the more business they have with members the better they grow.

How can I get a $4800 loan to pay off my judgement with a debt collector with a 572 credit score?

Pay off what you can.

Don%26#039;t get new debt.

Sell stuff if you have to.

How can I get a $4800 loan to pay off my judgement with a debt collector with a 572 credit score?

What happens if you don%26#039;t pay by the 25th? What was there an actual court case with a ruling from a judge? With that credit score - you could just offer them $2000 or threaten to declare bankruptcy

How can I get a $4800 loan to pay off my judgement with a debt collector with a 572 credit score?

I%26#039;m assuming your choices are to either pay it off completely by the 25th or start monthly payments beginning that date. Your only alternative is to do the monthly payments or go to one of those high interest loan companies such as Lendmark Financial. The interest on the monthly payments paying thru the attorney (on the judgement) might be lower than one of the companies who offer credit to people with low scores, but as you say, you%26#039;d still have a judgement against you. Either way, the judgement will show up on your credit -- whether it%26#039;s paid off or still actively being paid.

How can I get a $4800 loan to pay off my judgement with a debt collector with a 572 credit score?

Tough spot. Depending on who you have the debt with will depend on your actions. If it is a debt from someone who is not local, they will not take you to court, they will turn it over to collections. In that case, eventually they will offer you to settle for less.

However, if it is a local company in which you have/had a court date with and a judgment is ruled against you, they will have to file an order of execution to get any sort of money or property from you. They may garnish your wages but they can only take a certain %. Each state is diff. It will make it difficult for you to live, that%26#039;s for sure.

My suggestion is this: contact the debtor (if you haven%26#039;t done the court thing) and offer them monthly payments. Tell them you%26#039;ll pay XX amount by this date each month. If you are late, then proceed with court. If you%26#039;ve already gone to court and you can%26#039;t find the money to pay them off, you%26#039;ll have no choice but to either sell something, borrow money from family/friend or just let them garnish your wages. Yes, you%26#039;ll have to pay interest on the money, but you%26#039;ll have to pay interest regardless.

Wish I knew more info to be more helpful..........I%26#039;ve been thru this alot with our business.

Good luck