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Home > Reader Questions > Discover Card Refused Settlement Offer and Now Garnishing My Wages. – Judith

Discover Card Refused Settlement Offer and Now Garnishing My Wages. – Judith

I have a Discover card that is in default with a $11,500 balance. I’m a 63yo who is working part time and collecting partial S.S. as well.

I only work 15 hours a week so my take home is less then $200 a week. I called Discover and made a cash offer to them to settle the debt same day wiring them the funds via Western Union of $8,000 cash. They responded they wouldn’t settle and was was going to garnish my pay. Now they take $32 a week out of my paycheck. It is going to take them 7 years to recover the funds.

If I stop working at age of 65 and collect Social Security, can they go after that and my 401K ?

Judith

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Discover Card Refused Settlement Offer and Now Garnishing My Wages.   Judith
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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Asfsd

    $32 a week * 52 weeks a year = $1664
    $1664 * 5 years = 8320

    Don’t give them $8K up front. Go seek help from a free legal services in your local area.

    They probably can stop the $32.

    Or offer $3500 not $8000 as payment in full. if they agree…get in writing…if they refuse forget about them and dont waste your time thinking about them

  • Asfsd

    $32 a week * 52 weeks a year = $1664
    $1664 * 5 years = 8320

    Don’t give them $8K up front. Go seek help from a free legal services in your local area.

    They probably can stop the $32.

    Or offer $3500 not $8000 as payment in full. if they agree…get in writing…if they refuse forget about them and dont waste your time thinking about them

  • Merovingian TV

    No they can’t take your 401k money, unless they can prove you were tucking it away to avoid paying them, (hard to prove especially given your age).

    Not taking your $8k settlement was an emotionally stunted move by a rookie debt collector who if the actual owner of the debt understood your age & likelihood of collecting would most likely grant the settlement.

    Make sure they know your age, & make sure you say that it’s not your $8k, (gift from family) cause they’re probably just bluffing and going for more, or they’ll try to talk you into getting a loan against your 401k (bad move).

  • http://twitter.com/MerovingianTV Merovingian TV

    No they can’t take your 401k money, unless they can prove you were tucking it away to avoid paying them, (hard to prove especially given your age).

    Not taking your $8k settlement was an emotionally stunted move by a rookie debt collector who if the actual owner of the debt understood your age & likelihood of collecting would most likely grant the settlement.

    Make sure they know your age, & make sure you say that it’s not your $8k, (gift from family) cause they’re probably just bluffing and going for more, or they’ll try to talk you into getting a loan against your 401k (bad move).

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