Can I reduce the cost of an auto accident judgment against me? 1 Answers as of March 03, 2011

I was sued 5yr ago (auto accident) and the judgment against me was $10,000 that I have to pay to a collections agency. I was ordered to pay $50 a month which I was paying through an attorney, I've been paying since 2006 roughly $3000 has been paid out. This year my attorney said I can take over the payment process which was no problem, but I asked the collection agency to send a summary of the money paid to them over the past few years and it was still at $10,000 plus interest. Is there anyway to deal with the collection agency to reduce the judgment because the interest is getting me no where! Is there a way to reduce the cost?

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Lacy Fields, Attorney at Law, LLC
Lacy Fields, Attorney at Law, LLC | Lacy Fields
You could always offer to cash them out. In other words, sell something or take out a loan, and offer to pay them $5,000 cash to be done with it. Collections agencies will usually do that.

If you really have nothing to sell and can't get a loan, then maybe you should consider filing bankruptcy.
Answer Applies to: Missouri
Replied: 3/3/2011
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