Expert: Apex Credit Services, LLC - 1/4/2008

Question
I received a Summons yesterday about a debt owed
to Schneider training academy( a Truck driving school)
The amount they are wanting to collect is $7900 including
the principle and interest. I called their lawyers office
yestereday and offered $3000 to settle in full, but they
haven't gotten back to me on it yet. My question is
if they are unwilling to accept my offer and insist on
the full amount, which I don't have the cash to pay,
would it be best to let them go ahead and get the
judgement? Interest now is 18% and my understanding is
in GA interest on Judgements is only 12%. And if they
do receive the judgement, how long will I have to
get up the money to pay it off in full before they
can seize property? Thanks for your reply.

Answer
John:

    It is certainly not in your best interest to allow this matter to be reduced to judgment.  If the law firm is unresponsive, you need to file a responsive pleading or dispositive motion in order to prevent a default judgment being taken against you.  This would show upon your credit reports and prevent you from making certain purchases until satisfied.  In addition, itwould avail you to wage garnishment and attachment of property both real and personal.

    You may consider contacting the firm once or twice more and attempting to make payment arrangements which exceed $3,000.00.  Of course, you will want to make a payment schedule as opposed to a lump sum.  A hefty good faith initial payment may bring them to the table.  Otherwise, they could execute a default judgement within days after the order is entered.

             Apex Credit Services, LLC