What happens after I've signed a Stipulation for this debt lawsuit?

[gambitking]

I am in Colorado.

My wife and I were named in a case for an unpaid debt.

We worked out a payment arrangement with the debt collector. (not a settlement, just a payment plan)

We have made our first payment toward this arrangement.

The court date is coming up this Monday, the court clerk said it's not a trial before a judge, but rather a mediation. This is when I would get the payment plan details in writing and sign a stipulation.

So I just went ahead and went to the collection agency and signed the Stipulation today, and I got a copy of the document (it was signed by the plaintiff and notarized).

So what else is there to do? If I went to court, it would be to do the same thing I already did, right? I asked the person at the collection agency "What's the difference between me going to court and me not going to court on Monday". And he said "Nothing".

What's the possible outcomes, worst case scenario, etc? What reason is there for me to go to court now that I have the Stipulation?

 

[racer72]

What's the possible outcomes, worst case scenario, etc?

The debt collector is still going to get the judgment, they now have a signed document that you owe the debt. Also, be a day late on a payment or in some other way aggravate the creditor, your stipulation is trash and the debt collector can use any other means to collect, including bank and wage garnishments.

 

[gambitking]

I understand they will get a judgement, and that my signed stipulation is a concession to the judgement (I never disputed the debt and I'm willing to take care of it). But is there any reason for me to go to court now?

 

[cosine]

The debt collector is still going to get the judgment, they now have a signed document that you owe the debt. Also, be a day late on a payment or in some other way aggravate the creditor, your stipulation is trash and the debt collector can use any other means to collect, including bank and wage garnishments.

It's the payment plan that is trash. The stipulation just got them the judgment and that part is done.