Should I Sign Agreed Judgement??

[Anonymous]

I asked to be put on a payment plan with a law firm to pay off remaining credit card debt. They agreed only if I signed an "Agreed Judgement" that would be filed with the court. Ive been making payments with the original creditor (BB&T) and they have been cashing the payments. I dont know where to go from here. Any help?

[RobertEG]

Does the creditor already have a legal judgment issued by the court, or is the request only that you agree formally to a paymment plan as acknowledggement of the debt?

[Anonymous]

The agreed judgement states that after signed they will file it in the court system to go on as a true judgement. I have not been saved papers, nor do I know of the judgement being passed. Basically from what I read is they don't have o accept payment and even though I offered payments they are still going ahead with the judgement....even if I pay monthly as agreed

[Anonymous]

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@Anonymous wrote:
The agreed judgement states that after signed they will file it in the court system to go on as a true judgement. I have not been saved papers, nor do I know of the judgement being passed. Basically from what I read is they don't have o accept payment and even though I offered payments they are still going ahead with the judgement....even if I pay monthly as agreed

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Personally, I don't think I would sign such an agreement. It basically guarantees the judgement is going to be filed against you and hit your credit reports. I would continue to send in the payments, document them accepting the payments, then if they do file in court anyway, show up in court with the documentation that you have been paying regularly. To a decent judge, its going to look like a malicious prosecution. Ask that the case be dismissed without prejudice since you are making regular, reasonable payments. Should you subsequently miss payments or stop paying, they could refile their case.

How much is the debt, and how much are you paying?

[Anonymous]

I am paying $150 a month on $3900.00. BB&T has been accepting my payments. Should I continue to pay them or the law firm?

[Anonymous]

My attorney during my divorce had me sign a consent judgement for the remainder of the balance. It never hit my credit report. My, perhaps flawed, understanding is that consent judgements are a binding agreement that if you default on agreed payments a formal judgement will be entered. As long as you make the payments on time, it will not be reported as such. That being said, it may be wise to pay for a few hours of an attorney's time for definitive answers. 

[Anonymous]

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@Anonymous wrote:

My attorney during my divorce had me sign a consent judgement for the remainder of the balance. It never hit my credit report. My, perhaps flawed, understanding is that consent judgements are a binding agreement that if you default on agreed payments a formal judgement will be entered. As long as you make the payments on time, it will not be reported as such. That being said, it may be wise to pay for a few hours of an attorney's time for definitive answers. 

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That would be an excellent idea! Seek out a free consult, and find out the ramifications of such an agreement.

[Anonymous]

Where can I find a free Consult? I just pulled my credit report and BB&T is posting my payments on the account. 

[Anonymous]

Look up collection attorneys in your area, or contact the local bar association.   You should be able to find someone that will talk to you for a few minutes for free - or limited cost (some attorney's will charge a minimal fee for consults as well)   It will be well worth it to have someone review it. 

[Anonymous]

My wife is an attorney and when midland wanted me to agree to a judgment in exchange for a settlement plan at 50 % of the original debt amount, she refused. She got the settlement for me without the agreement of judgment.