by 
Falling behind on your bills is just miserable but having a judgement or adverse report on your name is positively soul destroying. That one liner on your credit report can prevent you from getting credit, renting home or even scupper your job prospects. If you are in this in this situation you need to extract yourself as soon as possible.
If you get a negative listing or judgment at the credit bureau, you will also find that the amount of your debt will have risen substantially. The collection agency costs, legal fees and higher interest charges will all add up to making your debt 50% to 100% more than it was before the trouble began!
Faced with this massively increased burden it’s hardly surprising that most people just put their head in the sand and hope that the debt will eventually evaporate. It won’t!
According to Stephen Logan of Logan Attorneys, a specialist debt and consumer rights lawyer, the only workable solution is a negotiated lump-sum settlement that is accompanied by a release from your judgment. Obtaining this type of settlement usually requires professional assistance because the representatives of your creditor have been trained to collect as much of this new debt as they possibly can. If you are feeling a little ‘beat up’ by this recent ordeal you may not be strong enough (or know your rights well enough) to get a fair settlement. However if you feel you can take on the debt collector and entice them with a lump sum it’s worth a shot.
When you get a judgement and you know you owe the money it’s not going to go away, you need to make some effort to pay the bill. If it is a large debt the creditor may pursue a garnishee order (a deduction off your salary) or even an attachment order; (the sheriff of the court will come and take your worldly possessions and sell them off to pay the debt).
to read more.
