I now want to settle a judgement...

[bearfootball]

I live in TX, and the SOL has run out on a number of collection agency wishing to get judgements. One did get a judgement against me about 3 years ago for about 10K. My quesion is this:

What should I expect in the form of what this agency wants to settle for? I would imagine that they bought this for pennies on the $$, so anything is better than nothing...but that's why I am asking the question.

Thanks

 

[Tayla]

I live in TX, and the SOL has run out on a number of collection agency wishing to get judgements. One did get a judgement against me about 3 years ago for about 10K. My quesion is this:

What should I expect in the form of what this agency wants to settle for? I would imagine that they bought this for pennies on the $$, so anything is better than nothing...but that's why I am asking the question.

Thanks

You'll be expected to pay the amount listed on the judgement papers since its probably still enforceable. This is under the assumption that that Collection agency is the one who is the plaintiff on the court docket papers.

 

[bearfootball]

Come on...even I know CA settle. Thanks for your reply, though

 

[Tayla]

Come on...even I know CA settle. Thanks for your reply, though

True , a CA is capable of negotiating. Since it was stated that the CA (plaintiff) already won in this judgment suit, said plaintiff will have little incentive to settle for less then what has been legally approved to them thru the courts. Would you settle for half of what is rightfully due you after the courts have pronounced the verdict in your favor?
And if you want to find out what they will settle for, ask them. There is no set module to gauge how a CA will respond. Good luck!