In your experience, what's the lowest percentage settlement you've achieved.

[Anonymous]

I figure within a few months I'll be trying to settle this $13,000 or so judgement I've been dealing with for a coupole days now -- Just wondering how successful anyone has been in negotiating a very low settlement, I'm considering offering 25% with the condition of paying in full w/ a single payment (if I can secure funds) this judgement has been pursued for several years now without me paying so much as a penny (besides the $388 they stole got from me yesterday).

I have hazy memories of the lady who was handling this matter with me years ago offering me something low like $4900 if I paid it in a single payment, I never put it together since racking my brain since yesterday but that memory feels very real for me, this is somewhere around 40% because I don't remember the exact amount over $13,000 but has anyone else had any similar luck?

I'm hoping to get at least down to 40% when I propose to settle this but would love to go even lower (whenever that happens) I would imagine the longer it takes the more likely they are to settle... it's been at least 4-5 years since that memory of the possible $4900 settlement happened.

[Anonymous]

I wonder how pissed they would get if I called and proposed to pay $3500 and if they said "No" just follow up with "You have a great day, thank you for your time" *click* hanging up the phone.  I wonder if they would take that as me not being a pushover kind of person who's serious and means business, lol.

I'm also wondering if you can pay this payment with a Credit Card or if that's not possible... If I could get my Capital One limit up high enough one of these days, that would be an easy way to secure the funds and then just pay it down $500/mo until I get utilization back to a reasonable level -- I'm not the kind of person who can just come up with $3000-5000 on a whim unfortunately.

[RobertEG]

If they have already obtained a judgment, then they have the courts to rely upon for attempting to collect.

Thus, they may not be willing to accept a low settlement.

Most judgments have a period of enforceability of ten years, and can be extended.

The judgment creditor can also go back to the court and seek an order of specific satisfaction, such as by attachment of assets or garnishment of pay.

When does the period of enforceability expire, and do your state laws and your current financial situation shield you from a possilbe court order for attachement of asseets or garnishment?  I would presume those are considerations that the judgment creditor will take into consideration........

[Anonymous]

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@RobertEG wrote:

If they have already obtained a judgment, then they have the courts to rely upon for attempting to collect.

Thus, they may not be willing to accept a low settlement.

Most judgments have a period of enforceability of ten years, and can be extended.

The judgment creditor can also go back to the court and seek an order of specific satisfaction, such as by attachment of assets or garnishment of pay.

When does the period of enforceability expire, and do your state laws and your current financial situation shield you from a possilbe court order for attachement of asseets or garnishment?  I would presume those are considerations that the judgment creditor will take into consideration........

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It's got a ways to go... I'm guessing at least 2021 but I honestly don't know because I have no record of it yet, I'm waiting for something to be mailed to me since it's not on my credit report or with either of the two counties I have lived in (only 2 places I've lived in my life).

I do know there's no possibility to garnish my wages because I'm technically unemployed and have been for 10+ years, I am self employed and sometimes contracted for longer periods of time where they have been able to suck a small amount out temporarily.  I don't really have any assets that would be worth taking, the only things I really have of value are my computer (which is basically my livelihood) and maybe a few dated electronics... no cars, home, etc.

[Anonymous]

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@Anonymous wrote:

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@RobertEG wrote:

If they have already obtained a judgment, then they have the courts to rely upon for attempting to collect.

Thus, they may not be willing to accept a low settlement.

Most judgments have a period of enforceability of ten years, and can be extended.

The judgment creditor can also go back to the court and seek an order of specific satisfaction, such as by attachment of assets or garnishment of pay.

When does the period of enforceability expire, and do your state laws and your current financial situation shield you from a possilbe court order for attachement of asseets or garnishment?  I would presume those are considerations that the judgment creditor will take into consideration........

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It's got a ways to go... I'm guessing at least 2021 but I honestly don't know because I have no record of it yet, I'm waiting for something to be mailed to me since it's not on my credit report or with either of the two counties I have lived in (only 2 places I've lived in my life).

I do know there's no possibility to garnish my wages because I'm technically unemployed and have been for 10+ years, I am self employed and sometimes contracted for longer periods of time where they have been able to suck a small amount out temporarily.  I don't really have any assets that would be worth taking, the only things I really have of value are my computer (which is basically my livelihood) and maybe a few dated electronics... no cars, home, etc.

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As long as you don't put anything in a bank, or gain any seizable assets, you're essentially "uncollectable". That is a relatively strong negotiating position. Make your uncollectible situation clear to them, and tell them that if they are willing to settle for a portion of it, you'll try to borrow the funds from a family member.