• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Settlement - Final Details/Questions on settlement

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

mekong911

Junior Member
What is the name of your state (only U.S. law)? CA

Thank you for the "How to negotiate a settlement" sticky post. I really appreciate it and have used it as a basis for negotiating two settlements that I'm ready to pay today. I just have a couple of questions about the final details.

1. The settlement agreements have been emailed to me as Word.docs (unsigned), not as signed pdfs ... is that anything I should be hung up on? Should I request signed agreements?

2. One of the settlement agreements is outdated. It states "effective immediately, XXX Associates Inc. has been authorized to accept $xxx as settlement on the above referenced account if consummated on or before October 1st, 2009." Should I request an updated settlement agreement? (I just received an updated agreement as the body of an email msg, no separate file....acceptable?)

3. I have repeatedly said that my sister will be making the payoff ... she'll be doing that with a credit card, are there any problems with that sort of payment? And, might it upset the apple cart if my mom ends up making the payoff? (For convenience sake---my sister is on-duty today and may not be able to get the time for the phone calls, but my mom has offered to step in). I wouldn't think they would care who the money comes from.

A few words of wisdom on the final details would be greatly appreciated.What is the name of your state (only U.S. law)?What is the name of your state (only U.S. law)?
 


SoCalFuel

Junior Member
I would'nt be hung up on a signed document as long as it has the name of the person who wrote the settlement on the document.

I think you would be better off getting the money from family and paying from your own account so you have proof of payment. If needed, contact the collector's for more time. They will still get paid even if they have to wait a few more days.

Be aware that you may receive a 1099 for the forgiven debt to file on this years taxes as income. You can file insolvency and not have to pay the extra taxes.

Your credit rating will take a beating but it's better than bankruptcy.

Best of luck!!!
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top