My question involves collection proceedings in the State of: Tennessee
I have a judgment against a former business partner, I also have a wage garnishment against him and he has paid $10k of the $25k plus lawyer fees, interest of 5.5% which would add about $7k+as of now. The garnishment checks change in amounts, the last check was only $36 and they normally average $500 a month total, sometimes more.
I really need to get my Home HVAC unit replaced and was quoted about $7.5k. Without those checks as steady amounts i can't afford make the extra payments because of this guy which the quote for payments was around $120- $170 a month.
I would be willing to offer him a deal where he could pay me a lump $8,000 cash or agree to $4,000 by Nov 2019 and $4,000 by Aug. 2020 and I get a new HVAC unit installed in my house ASAP where he is 100% liable for paying for it. If he did not pay, then the company would have to go after his property /wages and not be able to take the unit from me or affect my credit. In exchange i would wave the remainder of the current and future interest along with lawyer fees minus the Unit cost . He would then only have to cover the minimum payments until it's paid off.
Is that something that could actually be done ?
how could i make the offer to him ? Ask through the court ?
I have no lawyer, so i also haven't been able to do a post-judgment discovery in court.