Negotiate on debt already entered judgement

[eeguy02]

What is the name of your state? CA

Can I still negotiate to reduce the debt that was already entered judgement from the collection agency, negotitate about interest rate, total amount. Thanks

[seniorjudge]

Q: Can I still negotiate to reduce the debt that was already entered judgement from the collection agency, negotitate about interest rate, total amount.

A: Yes. Do it all in writing and when you write them and ask them to negotiate, send as much money as you can along with the request. It will make them easier to deal with.

[SF439]

You can negotiate but they don't have to because they already have the judgement so why would they settle on less than what they were awarded. It just depends on how nice they are. If it's a lump sum they may take a lesser amount, but on payments it's not likely.

[LindaP777]

Originally Posted by SF439

You can negotiate but they don't have to because they already have the judgement so why would they settle on less than what they were awarded.

Winning the judgement is certainly not the same as getting the money. Once they have the judgement, they have to (legally) go after the money through attachments, garnishments or liens. If the person who owes the money doesn't have a job and has no assets, then the collectors stands very little chance of getting any money, plus the person could file bankruptcy and get out from under the judgement. I would think some money is better than no money.

[Ladynred]

You can negotiate but they don't have to because they already have the judgement so why would they settle on less than what they were awarded

Because the recovery rate on civil money judgments is something like a mere 10% ??? Judgment creditors can and DO settle on judgments so that they have SOME hope of actually recovering some money. The interest rate on a judgment is per STATE LAW, generally NOT negotiable.