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I am in the process of purchasing a home and during the public record search found out I had a judgement from a prior landlord that never made its way to my credit report. I have since tracked down the plaintiff, and we have reached an agreement on paying this off. My question is what type of documentation should I get from him when I hand him over the check? I called the county courthouse to see if they had something they wanted filled out and they told me that the plaintiffs lawyer would know what to do and they would handle it. I am concerned that due to the fact we have agreed to a lesser amount as a settlement he can back out of the agreement without some sort of letter.
You will need a Satisfaction of Judgment recorded in the public records.
Usually it is the creditors attorney that prepares these and records the Satisfaction.
http://www.nolo.com/dictionary/satisfaction-of-judgment-term.html
more info: http://www.nolo.com/legal-encyclopedia/free-books/small-claims-book/chapter23-3.html
Should I be concerned that I am paying him directly without an attorney present, or write the check in good faith? Unfortunately our messages have been through facebook due to the contact information he listed on the 6 year old judgement is outdated.
@Anonymous wrote:Should I be concerned that I am paying him directly without an attorney present, or write the check in good faith? Unfortunately our messages have been through facebook due to the contact information he listed on the 6 year old judgement is outdated.
You can generally find the document online for satisfaction of judgement. Just make sure to google for your state and/or county to make sure you get the right form. Have it signed in the presence of a notary and you can pay to have it recorded.
Yes, but it has to be signed by the creditor and not the debtor.
@StartingOver10 wrote:Yes, but it has to be signed by the creditor and not the debtor.
Yes. I guess I thought that was assumed