krnewell Posted April 26, 2007 Report Share Posted April 26, 2007 My husband recently received a default judgment against him. We realize we made some mistakes from the beginning in letting this happen in the first place. Now we're trying to settle the debt. The CA is Cavalry Portfolio services and they are using a lawyer within our state. We sent the lawyer a settlement letter with a offer in return for dismissal of the judgment. We decided to start with a relatively small offer so we have some room to up it. A couple of days ago we got a letter from the lawyer stating he'd like us to fill out an attached financial statement and return to him. He'll then send the statement and our proposed offer to Cavalry.I'm not at all comfortable filling out this statement. It not only asks for assets and monthly bills, but his income and mine as his spouse. Along with both of our SS numbers.I felt pretty comfortable handling settlement letters, but this has thrown me for a loop and I have no idea what to do now. Any suggestions would be great. Link to comment Share on other sites More sharing options...
cracrap Posted April 26, 2007 Report Share Posted April 26, 2007 if this wasnt from the court, labeled as a debtors asset sheet dont u dare fill that out ...ull give him all the info he needs to go after ur bank accounts and every thing else u own..just cuz they got a judgement against u doesnt mean that the court will help them collect it...they have to locate ur assets on their own...comprende amigo?? Link to comment Share on other sites More sharing options...
flacorps Posted April 26, 2007 Report Share Posted April 26, 2007 if this wasnt from the court, labeled as a debtors asset sheet dont u dare fill that out ...ull give him all the info he needs to go after ur bank accounts and every thing else u own..just cuz they got a judgement against u doesnt mean that the court will help them collect it...they have to locate ur assets on their own...comprende amigo??A judgment creditor has a right to post-judgement discovery. Often there are court-created forms that ask only the proper questions, defining the rights of creditors and duties of debtors in all but exceptional cases. If you don't provide answers under oath, the judgment creditor can have the court use its contempt powers to force you to answer. In some cases, a form of arrest warrant (writ of bodily attachment) can be issued that will require you to provide the information before the court lets you go.In other cases, the judgment creditor will not pursue these remedies, and will simply turn to investigative methods to try to find out where you bank and/or work, including perhaps the "trojan check" (a small check masquerading as a rebate or refund), which violates Gramm/Leach/Bliley. Link to comment Share on other sites More sharing options...
krnewell Posted April 26, 2007 Author Report Share Posted April 26, 2007 So what should be our next step then, I guess? We do really want to try to settle with them? Do we need to send the lawyer another letter and if so, to say what? Link to comment Share on other sites More sharing options...
krnewell Posted April 26, 2007 Author Report Share Posted April 26, 2007 The statement the lawyer sent us definitely doesn't look like a court created form. How do we know if it is a valid form? Would it be worth getting a lawyer at this point in time? If so, what type of lawyer do we need to get? Link to comment Share on other sites More sharing options...
CarolinaBlueEyes Posted April 26, 2007 Report Share Posted April 26, 2007 get a lawyer just to be sure.. that would be the best way to go , get legal advice on these forms Link to comment Share on other sites More sharing options...
cracrap Posted April 26, 2007 Report Share Posted April 26, 2007 A judgment creditor has a right to post-judgement discovery. Often there are court-created forms that ask only the proper questions, defining the rights of creditors and duties of debtors in all but exceptional cases. If you don't provide answers under oath, the judgment creditor can have the court use its contempt powers to force you to answer. In some cases, a form of arrest warrant (writ of bodily attachment) can be issued that will require you to provide the information before the court lets you go.In other cases, the judgment creditor will not pursue these remedies, and will simply turn to investigative methods to try to find out where you bank and/or work, including perhaps the "trojan check" (a small check masquerading as a rebate or refund), which violates Gramm/Leach/Bliley.u have to fill out a debtors asset sheet,,,ive seen them...and the asset sheets sure as heck are not detailed financial statements like what the poster indicated is being asked of them Link to comment Share on other sites More sharing options...
krnewell Posted April 26, 2007 Author Report Share Posted April 26, 2007 Correct, it seems like this statement they are asking us to fill out is pretty detailed. They want both of our employers along with date hired, SS numbers, monthly and annual incomes and a list of Assets and Liabilities.After reading the letter from the lawyer again, it says that their client (Cavalry Portfolio) requested we fill out the enclosed financial statement.I'm still not sure what to do next, except not fill out the form. Any ideas from anybody??? Link to comment Share on other sites More sharing options...
cracrap Posted April 26, 2007 Report Share Posted April 26, 2007 a detailed financial sheet is not a debtors asset statement..it might be since ur offerin to settle for less that they want to see if u can really afford to pay more or not...personally i wouldnt fill it out ,,it benefits u in no way to do so and can create more problems than it solves..just my 4 cents though.. Link to comment Share on other sites More sharing options...
rella5 Posted April 26, 2007 Report Share Posted April 26, 2007 I work for a mortgage co. here in Va. We just settled for one of our borrowers that had a judgement from Cavalry thru a local atty. We DID NOT have to fill out a financial statement. In fact, the manager of our office handled the settlement after the borrower gave verbal permission to the atty. to speak with her. As a matter of fact everything was done verbally except the last paper from the atty's office stating they would accept the settlement which was $6000.00 on a $9,500.00 judgement. I would be very reluctant to fill that form out unless the judge had the handcuffs in one hand and the form in the other!And by the way, the money was paid with a check from the proceeds of a refinance on their home. Link to comment Share on other sites More sharing options...
rella5 Posted April 26, 2007 Report Share Posted April 26, 2007 I should also add that I think they are trying to intimidate you with all of that and if you do not feel comfortable standing up to them then follow the advice of other posters and consult an atty to help you back them down. Particularly if it is a significant amount. Link to comment Share on other sites More sharing options...
CarolinaBlueEyes Posted April 26, 2007 Report Share Posted April 26, 2007 I am thinking back to the three times I was sued but we settled out of court with the help of a lawyere and not once did I have to disclose financial info.. I would NOT feel good about turning that over to a JDB Link to comment Share on other sites More sharing options...
unusualsuspect Posted April 27, 2007 Report Share Posted April 27, 2007 Unless it's from the court-- DO NOT fill anything out.If your judgment is less than 6 months old, I'd research a Motion to Vacate or even look into a BK. Link to comment Share on other sites More sharing options...
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