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Thought this was settled, but need help deciphering legalise in agreed order

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I have been talking with GE Money Bank's attorney to settle a debt on my JC Penney account. The attorney originally said he would "enter into an Agreed Order with the court stating that once I had made my payments as agreed, he would dismiss the case with prejudice and we would enter a joint and mutual release, so there would be no judgement against me." I agreed to this, but now that the Agreed Order is here, it sounds to me as though he is trying to sneak one past me, but it may just be that I don't understand the legalise. Please help me if there are any attorneys reading this. The Agreed Order states:

1.) The plaintiff, GE Money Bank, shall have judgement against the defendent, for the sum of $3,083.49, plus interest at the rate of 12.000% per annum and costs.

2.) It is further agreed that the defendant may satisfy the obligation under this judgement according to the following terms and conditions:

The defendant shall pay to the plaintiff, GE Money Bank, through its counsel, Mapother and Mapother, P.S.C., 801 West Jefferson Street, Louisville, Kentucky 40202, monthly installments of $50.00, the first installment to be paid on or before May 1st, 2007, with subsequent installments on the 1st day of each month thereafter until the sum of $3083.49 has been paid in full.

3.) Shoud the defendant abide by all the terms and conditions set forth in paragraph 2 above and make the payments set forth therin promptly as agreed, then no execution shall issue on this judgement except against real estate, which such filing will not be considered an involuntary lien within the scope of U.S.C.&522(f).

4.) Should the defendant, fail, however, to fully abide by all the terms and conditions set forth in paragraph 2, inculded but not limited to failing to make payments set forth therin promptly as agreed, then the full unpaid balance of this judgement as set forth in paragraph 1 shall be immediately due, the lesser settlement being voided by defalult, and execution may issue forthwith for the full unpaid balance of this judgement.

It sounds to me as though they are not dismissing the judgement, and #3 sounds as though this will not be over when I pay off this debt. Please explain the meaning of all this so I will know what I am doing before I sign anything! Thanks for your help!


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He is taking a judgment against you and agreeing not to send it to the sheriff as long as you pay. Of course, he's giving you 60 months to pay it off. If I were him, I'd probably do teh same. But it isn't as you thought, no.

What you want it to say is that the plaintiff will not enter judgment enless you default on the monthly payments.

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