settlement on judgement

Can a judgement be settled for less than the judgement amount if it has already been granted? Can you go back to the creditor and haggle?

[I AM ALWAYS LIABLE]

<BLOCKQUOTE><font size="1" face=" Arial, Verdana, Helvetica">quote:</font><HR>Originally posted by pests:
Can a judgement be settled for less than the judgement amount if it has already been granted? Can you go back to the creditor and haggle?<HR></BLOCKQUOTE>

My response:

Sure. Everything is always subject to negotiation. In other words, it's not over until the Fat Lady sings (or, the debt is paid). However, a key element of any negotiation is "bargaining power" or leverage, and you have little of that. They already have a judgment, and can apply for an Abstract of Judgment to levy against your assets. The only "leverage" that you have, really, is time. For example, it may take them 30 or more days to obtain an Abstract, and then more money to locate your assets, and attach them, and then to sell the assets (if personal property is attached). Also, depending on the amount of the judgment, you may be able to pay a smaller amount today (to satisfy the judgment in full) rather than days or months from now for them to collect on a larger judgment.

The worst they could say, is no. So, it never hurts to ask, and to try to negotiate a lower payment. Make sure that you know the exact amount you can pay today, if you had to pay today. Then, start the negotiations with an offer that is lower, and as negotiations progress, move up toward your final amount.

Good luck.

IAAL

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<BLOCKQUOTE><font size="1" face=" Arial, Verdana, Helvetica">quote:</font><HR>Originally posted by I AM ALWAYS LIABLE:
My response:

Sure. Everything is always subject to negotiation. In other words, it's not over until the Fat Lady sings (or, the debt is paid). However, a key element of any negotiation is "bargaining power" or leverage, and you have little of that. They already have a judgment, and can apply for an Abstract of Judgment to levy against your assets. The only "leverage" that you have, really, is time. For example, it may take them 30 or more days to obtain an Abstract, and then more money to locate your assets, and attach them, and then to sell the assets (if personal property is attached). Also, depending on the amount of the judgment, you may be able to pay a smaller amount today (to satisfy the judgment in full) rather than days or months from now for them to collect on a larger judgment.

The worst they could say, is no. So, it never hurts to ask, and to try to negotiate a lower payment. Make sure that you know the exact amount you can pay today, if you had to pay today. Then, start the negotiations with an offer that is lower, and as negotiations progress, move up toward your final amount.

Good luck.

IAAL

<HR></BLOCKQUOTE>Thanks for your answer. One more thing,please.
Can they put an Abstract on your assets if the debt was a non-secured credit card?

[I AM ALWAYS LIABLE]

<BLOCKQUOTE><font size="1" face=" Arial, Verdana, Helvetica">quote:</font><HR>Originally posted by pest:

Originally posted by I AM ALWAYS LIABLE:
My response:

Sure. Everything is always subject to negotiation. In other words, it's not over until the Fat Lady sings (or, the debt is paid). However, a key element of any negotiation is "bargaining power" or leverage, and you have little of that. They already have a judgment, and can apply for an Abstract of Judgment to levy against your assets. The only "leverage" that you have, really, is time. For example, it may take them 30 or more days to obtain an Abstract, and then more money to locate your assets, and attach them, and then to sell the assets (if personal property is attached). Also, depending on the amount of the judgment, you may be able to pay a smaller amount today (to satisfy the judgment in full) rather than days or months from now for them to collect on a larger judgment.

The worst they could say, is no. So, it never hurts to ask, and to try to negotiate a lower payment. Make sure that you know the exact amount you can pay today, if you had to pay today. Then, start the negotiations with an offer that is lower, and as negotiations progress, move up toward your final amount.

Good luck.

IAAL

<HR></BLOCKQUOTE>Thanks for your answer. One more thing,please.
Can they put an Abstract on your assets if the debt was a non-secured credit card?

My response:

Yes. Since debt has now been reduced to a judgment, it doesn't matter anymore whether the original debt was secured or nonsecured.

IAAL



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By reading the “Response” to your question or comment, you agree that: The opinions expressed herein by "I AM ALWAYS LIABLE" are designed to provide educational information only and are not intended to, nor do they, offer legal advice. Opinions expressed to you in this site are not intended to, nor does it, create an attorney-client relationship, nor does it constitute legal advice to any person reviewing such information. No electronic communication with "I AM ALWAYS LIABLE," on its own, will generate an attorney-client relationship, nor will it be considered an attorney-client privileged communication. You further agree that you will obtain your own attorney's advice and counsel for your questions responded to herein by "I AM ALWAYS LIABLE."