Settlement Agrreement and Release of Liability

[Gdegrees]

I am attempting to settle a small claims suit that I filed with a CA, and looking for a little advise?

Does the following listed below say that I can never sue them again? I just don't wnat to loose my right to sue them in the future should something else arise.

WHEREFORE, in consideration of the promises, representations, and warranties set forth, the Parties agree as follows:

1. As of the Effective Date, Claimant fully, finally, and forever settles, releases, and discharges the “Released Parties” (as defined below) from the “Released Claims” (as defined below), and is forever barred and enjoined from asserting any of the Released Claims in any court or forum

A. “Released Parties” shall mean XXX and each of its past, present, and future directors, officers, employees, partners, principals, agents, underwriters, insurers, co-insurers, re-insurers, shareholders, attorneys, and any related or affiliated company, including any parent, subsidiary, predecessor, or successor company, and all assigns, licensees, divisions, clients and joint ventures;

B. “Released Claims” shall mean any and all claims, causes of action, suits, obligations, debts, demands, agreements, promises, liabilities, damages, losses, controversies, whether known or unknown, whether based on any federal law, state law, common law, territorial law, or foreign law right of action or of any other type or form (whether in contract, tort, or otherwise, including statutory, common law, property, and equitable claims), including claims arising out of, based upon, or in any way relating to the Alleged Violations or the conduct alleged in the Lawsuit, which Claimant has or may have in any capacity against the Released Parties from the beginning of time to the Effective Date;

[hannah]

What it means is that you can never sue them again for anything at all connected with the claims that you are settling or anything that arises out of those claims or any other claim even if it involved another debt.

If it were me, I'd want this bolded part inserted before I'd sign.

B. “Released Claims” shall mean any and all claims, causes of action, suits, obligations, debts, demands, agreements, promises, liabilities, damages, losses, controversies, whether known or unknown, whether based on any federal law, state law, common law, territorial law, or foreign law right of action or of any other type or form (whether in contract, tort, or otherwise, including statutory, common law, property, and equitable claims),only including claims arising out of, based upon, or in any way relating to the Alleged Violations or the conduct alleged in the Lawsuit, which Claimant has or may have in any capacity against the Released Parties from the beginning of time to the Effective Date;

The way it reads, even if they are collecting another debt of yours and violated again, you will have already released the claim against them with that agreement.

Have you negotiated it off your credit report if it was on there? You might want a clause stating that the tl will be removed and never reinserted. You might want the underlying debt never to be sold again, etc.

[Gdegrees]

Hannah,

Thanks a bunch for the quick reply! I really appreciate it!

Here are the terms for dismissal;

2. XXXX shall pay Claimant a total of $XXXX, waive and/or discharge the balance of the account made the subject of the Lawsuit (identified as XXXX account no. xxxxxx), close the account so that it is not returned to the original creditor or placed with any other office for the purpose of collection, and to the extent the said account was credit reported by XXXX, XXXX will request the credit bureaus to which it reports delete the tradeline, all in consideration of and in exchange for the contemporaneous release set forth in ¶ 1 above and dismissal of the Lawsuit with prejudice. Claimant agrees to submit to the Court a proposed, agreed order, dismissing the Lawsuit with prejudice.