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Stipulation of Judgement?


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Question,

Been trying to square away some loose ends as I prepare to talk with an atty regarding BK. As I contacted a CA to try one last time to work payments out I was told it's off to an atty and gave me the number. I called and was informed by the atty's office that a payment structure would be accepatable but that they are going to file a stipulated judgement in order to garnish etc. in the event that I default.

What is a stipulation of judgement. It's confusing me because I was told that I do not have to go to court?

-J

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Question,

Been trying to square away some loose ends as I prepare to talk with an atty regarding BK. As I contacted a CA to try one last time to work payments out I was told it's off to an atty and gave me the number. I called and was informed by the atty's office that a payment structure would be accepatable but that they are going to file a stipulated judgement in order to garnish etc. in the event that I default.

What is a stipulation of judgement. It's confusing me because I was told that I do not have to go to court?

-J

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They are sooooooooooo full of kaka its not funny ! They can't just FILE a 'stipulation to judgment', they have to go the whole 9 yards of suing you, serving you with the Summons and Complaint and the rest of the entire court procedure. You would have to Answer that Complaint and they would likely move for a summary judgment, that's what typically happens. A 'stipulation to judgment' means that you come to some agreement to pay the lawyer, and the stipulation says as long as you make your payments in full and on time, there will be no judgment entered, BUT if you miss or slip even once, then judgment is entered and they go forward with the full legal remedies available to collect on a judgment.

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They are sooooooooooo full of kaka its not funny ! They can't just FILE a 'stipulation to judgment', they have to go the whole 9 yards of suing you, serving you with the Summons and Complaint and the rest of the entire court procedure. You would have to Answer that Complaint and they would likely move for a summary judgment, that's what typically happens. A 'stipulation to judgment' means that you come to some agreement to pay the lawyer, and the stipulation says as long as you make your payments in full and on time, there will be no judgment entered, BUT if you miss or slip even once, then judgment is entered and they go forward with the full legal remedies available to collect on a judgment.

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As always, you rock lady!

Okay I think I follow now. So I should expect to be served even though they told me I won't be?

I specificaly asked that and they said I won't be served. BUT, she did say that she will be sending me a form to sign and that I can send it back with the first payment.

Also, I've been digging around the IRS website looking for tables regarding "reasonable living expenses" that are going to be used for the new BK law. I found some, but don't know if they are the ones that will be used. You know of any?

J

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As always, you rock lady!

Okay I think I follow now. So I should expect to be served even though they told me I won't be?

I specificaly asked that and they said I won't be served. BUT, she did say that she will be sending me a form to sign and that I can send it back with the first payment.

Also, I've been digging around the IRS website looking for tables regarding "reasonable living expenses" that are going to be used for the new BK law. I found some, but don't know if they are the ones that will be used. You know of any?

J

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Not only what LadyInRed said, but they can't have you even sign a wage assignment unless they give you the right to rescind such an assignment.

Automatic wage deductions in case of default are illegal under the Credit Practices Rule.

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Not only what LadyInRed said, but they can't have you even sign a wage assignment unless they give you the right to rescind such an assignment.

Automatic wage deductions in case of default are illegal under the Credit Practices Rule.

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I am a little confused here. Are you still planning to file BK even if this lawyer agrees to payments? Or has it been "either or" situation? If you are still planning to file, don't agree to anything with the lawyer and save your money. Depending on the type of BK you file the debt will either be discharged completely or the court will set the payment schedule.

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I am a little confused here. Are you still planning to file BK even if this lawyer agrees to payments? Or has it been "either or" situation? If you are still planning to file, don't agree to anything with the lawyer and save your money. Depending on the type of BK you file the debt will either be discharged completely or the court will set the payment schedule.

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I am a little confused here. Are you still planning to file BK even if this lawyer agrees to payments? Or has it been "either or" situation? If you are still planning to file, don't agree to anything with the lawyer and save your money. Depending on the type of BK you file the debt will either be discharged completely or the court will set the payment schedule.

Thanks KentWA,

Right now, this is the hardest decision my wife and I have ever made in our life and we are 90/10 that we are going to file. We've spent the better part of 2 weeks putting together every bill we owe and trying to figure a way to see where we would be with minimums on every cc card, taxes, etc. both active and charged off.

Needless to say, even if we made minimums on what we have, we would be paying for a very long time (never paying them off hoping to get a consolodation loan in the very very very far future) and would have to scrape by to survive for the next serveral years.

With no assets between us and possibly a baby on the way were are stuck and a BK may be our only way out...

If I ever hear another "analyst" say that outsourcing american jobs is good for the economy, I want them to come talk to me...

-J

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I am a little confused here. Are you still planning to file BK even if this lawyer agrees to payments? Or has it been "either or" situation? If you are still planning to file, don't agree to anything with the lawyer and save your money. Depending on the type of BK you file the debt will either be discharged completely or the court will set the payment schedule.

Thanks KentWA,

Right now, this is the hardest decision my wife and I have ever made in our life and we are 90/10 that we are going to file. We've spent the better part of 2 weeks putting together every bill we owe and trying to figure a way to see where we would be with minimums on every cc card, taxes, etc. both active and charged off.

Needless to say, even if we made minimums on what we have, we would be paying for a very long time (never paying them off hoping to get a consolodation loan in the very very very far future) and would have to scrape by to survive for the next serveral years.

With no assets between us and possibly a baby on the way were are stuck and a BK may be our only way out...

If I ever hear another "analyst" say that outsourcing american jobs is good for the economy, I want them to come talk to me...

-J

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If you're that close to a decision to file, don't hesitate. With a baby on the way you do NOT want to get stuck in the 5 year restrictive hell that the new bankruptcy bill will impose for Ch 13's - unless you're sure your income will be below your state's median income, which MIGHT get you a Ch 7.

Rather than struggle thru for years, especially with a growing family, get the monkey off your back NOW while you still can.

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If you're that close to a decision to file, don't hesitate. With a baby on the way you do NOT want to get stuck in the 5 year restrictive hell that the new bankruptcy bill will impose for Ch 13's - unless you're sure your income will be below your state's median income, which MIGHT get you a Ch 7.

Rather than struggle thru for years, especially with a growing family, get the monkey off your back NOW while you still can.

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