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Abstraction of Agreed Judgment

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So I'm working on a settlement with the attorneys and the credit union.

They are willing to provide payment terms but want to file the agreed judgment as well as "abstract" it. My understanding of "abstraction" is that they will apply liens on all my real estate etc.

I also understand that this is not typically the terms of an agreed judgment. Normally don't abstract unless payments are missed etc.

So I am pushing back on:

1. Change the language to such that the abstracting doesn't happen unless I am in default on payments

2. Remove the charge offs. Even if they cannot remove it I can perhaps add language that should I dispute they won't re-affirm. The point here is that the judgement will already be on my credit so why have both.

3. Also when I pay off the judgment and dispute the judgement I need to have language that says they won't re-affirm my dispute on this as well.

Does all that make sense? Did I miss anything?

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I don't see any benefit in your post for you for an abstract agreed judgment. The credit union would benefit greatly. They don't have to pay their lawyer for court action and they have your property.

Why not go with a simple agreement? The alternative for the credit union is to spend money.

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Thanks for all the feedback...

After doing some research I agree that an "Agreed Judgment" would affect my credit so negatively I am now trying to come up with some sort of settlement. What is in it for the Plaintiff to work out a plan? Wouldn't they rather keep going after a judgment if it can be obtained? Question is how long would obtaining a judgement take?

At this point we are within the 10 business days of the original pre-trial date. However the Plaintiff attorneys sent me their schedule prefering pre-trial in December and trial in January. On the schedule it also says that we are supposed to request mediation or specify that mediation would not work within 10 business days of pre-trial. I have submitted the schedule and requested the later dates in December etc.

If they don't also submit to the court schedule for pre-trial in December then we'll be on within 10 days.

Is it too late for me to request mediation? Is there a motion I can file to buy more time and delay any sort of chance for judgment before January/March? I'm trying to get them to agree to reducing the debt by half and providing about 7 months pay it off. They have offered an agreed judgement and low minimum payments that could go on forever until paid off.

I would think half paid off in 7 months is better than a trickle that you may not even get after judgment because the damage is done and there's no real incentive to pay if off.

Also, if they won't agree to my offer what motions can I file to either get settlement via mediation or to buy time anyhow and also challenge them to furnish evidence etc.

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