Information in this thread is incorrect. It doesn't cost twenty thousand dollars to sue a person for slander and defamation. I wish people would study the law and cite their legal sources before they state falsehoods in a public platform.
Please read the information and the several links I provided earlier, Razzbo. The information provided in this thread, as you yourself said, is "good information indeed."
The statistics from the Media Law Resource Center*, compiled as they are from real life defamation cases gathered throughout the country, are more accurate as to average costs than your guesses.
Because we do not appreciate posters who come to this site to state falsehoods, from now on please leave the legal advice and information to those who actually know what they are talking about. Thank you.
*Here is direct link to the Media Law Resource Center:
http://www.medialaw.org/about-mlrc