I live in California and a judgement has been entered against me for a credit card that was in collections in 2003. I set up stipulation payments, but I’m unemployed with no compensation. I have not made a payment for 5 months. I contacted the woman that handles my account by mail and phone regarding my situation; she has not returned my calls. I would like to settle, but would have to borrow from my family.
Should I try to borrow money to settle this debt?
My initial reaction is that you should not borrow from family members. Why extend your issue into their pocket?
I think you need to accept responsibility for the mess created and either just wait till you are employed again and then make payment arrangements or go bankrupt and kill the judgment. Either way, the best solution here is going to be clear action by you.
Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.