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Should I Sign? Settlement Dismissal

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CONSENT ORDER OF CONDITIONAL DISMISSAL WITHOUT PREJUDICE SUBJECT TO REINSTATEMENT

The parties having agreed on a final settlement of the issues in this suit; and this order having been intended and submitted as an expression of that agreement:

It is herby ordered that

1. This case is dismissed without prejudice as Defendant agrees to pay Plaintiff; through the offices of XX, the sum of XX

2. Defendant shall pay the sum referred to above as follows: XX on or before XX

3. If the above payment is timely made, this action will be dismissed with prejudice

4. If Defendant defaults on the payment, a consent judgement shall be entered against in the amount of XX plus statutory post judgement interest, plus fees, etc. Less any payments.. upon mere filing of an affidavit of non-compliance. Defendent further agrees to waive the right to a statutory appeal period upon non compliance and judgement

It seems fishy. They could lie and say they never received their payment, and get a judgement and I wouldn't be able to appeal it! Even if I had a photocopy and a signed receipt? Should I refuse to sign this and just tell them I'm coming in to drop off the payment and I want my settlement letter and the case dismissed with prejudice?

Help :(

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The settlement amount is totally reasonable and I'm pleased with it.

I think I should just call them and tell them I'm coming in with the payment, and that I'd like my settlement letter ready and signed. That way I can skip this document altogether and they can't pull any numbers on me

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And I can understand that because on the first post you said things seemed fishy but the next post you want to be done so badly with this issue that you will call them up. Great. However, you will still need something in writing that you both agree to such that they will accept your settlement as settling the account in full, once and for all. The settlement stipulation you posted above is completely one sided and would put you at a disadvantage. If you are only making one lump payment, then how could you default?

By sending in the payment on time or even calling it in then through some odd quirk of their systems and fine print your account won't get credited until the tenth business day past the full moon...you get the picture. It's good that you plan on walking the payment in yourself. Just make sure they print you a receipt. Here is a personal story. My husband and I went to pay on an account with a notorious predatory lender. We walked the payment in ourselves because of previous payment processing irregularities. They gave us a receipt etc. Two days later they claimed we had a bounced check for that payment and needed to resubmit. THEY made a mistake. Our Bank records indicated there wasn't an overdraft that entire month and that our payment went through that day! BUT predatory lender tacked on a fee for NSF and over the limit fee and late fee, raising our balance due by almost a hundred dollars. How could they do this? Because they are unscrupulous and rarely do people complain about them.

If you create a paper trail of everything that you do with this creditor, you will be fine. If they try to come after you again or sell the debt to another entity you have cause to sue them. That is why certain language is necessary to protect YOU in these negotiations.

Edited by rikkivs

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give them an edited version of the settlement agreement. remove the terms that you dont want.

settlement is a two-sided street. you get something, they get something.

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And I can understand that because on the first post you said things seemed fishy but the next post you want to be done so badly with this issue that you will call them up. Great. However, you will still need something in writing that you both agree to such that they will accept your settlement as settling the account in full, once and for all. The settlement stipulation you posted above is completely one sided and would put you at a disadvantage. If you are only making one lump payment, then how could you default?

By sending in the payment on time or even calling it in then through some odd quirk of their systems and fine print your account won't get credited until the tenth business day past the full moon...you get the picture. It's good that you plan on walking the payment in yourself. Just make sure they print you a receipt. Here is a personal story. My husband and I went to pay on an account with a notorious predatory lender. We walked the payment in ourselves because of previous payment processing irregularities. They gave us a receipt etc. Two days later they claimed we had a bounced check for that payment and needed to resubmit. THEY made a mistake. Our Bank records indicated there wasn't an overdraft that entire month and that our payment went through that day! BUT predatory lender tacked on a fee for NSF and over the limit fee and late fee, raising our balance due by almost a hundred dollars. How could they do this? Because they are unscrupulous and rarely do people complain about them.

If you create a paper trail of everything that you do with this creditor, you will be fine. If they try to come after you again or sell the debt to another entity you have cause to sue them. That is why certain language is necessary to protect YOU in these negotiations.

Well, the fishy part was that they didn't want to give me my settlement letter until after I paid, and they wanted this consent order signed immediately. What I meant was that the settlement dollar amount was great.

I don't quite follow what happened with your case- they charged you a late fee on top of the check you wrote? How can they do that? You wrote a check for a specific amount. Were you able to fight it?

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give them an edited version of the settlement agreement. remove the terms that you dont want.

settlement is a two-sided street. you get something, they get something.

Yes! Which is why I'm going to call them tomorrow and ask them when they'll be available to furnish me with my settlement letter and receive my check by hand. I'm not signing that thing

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I also typed up a nice little receipt of my own that I'm going to serve on the courts as well. I'll have whoever takes my check sign it. It basically lists all of my conditions for settling, ie that the amount completely satisfies the account, that it will be reported to the credit beaureus as settled in full, and that I have no further obligations to either party.

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this is what id give them

1--a settlement agreement

2--a joint stipulation to dismiss -the judge just needs to "so order" it.

settlement agreement:

This Settlement Agreement And Mutual Release is entered into this 1st day of September, 2011 by, between and among DEADBEAT BANK, ("PLAINTIFF") and Jackson212 ("Defendant")

The parties desire to enter into this Settlement Agreement in order to provide for certain payments in full, settlement and discharge of all claims which are the subject of a Complaint herein.

1. Payment & Consideration. No later than September xx, 2011, Jackson212 shall pay DEADBEAT BANK a sum total of One Thousand and Two Hundred dollars ($1200) by check, or money order in accordance with the terms of this settlement agreement.

2. Effective Date. The “Effective Date” of this Settlement Agreement shall be the first date it has been signed by the Plaintiff and Defendant.

3. Dismissal. Within 21 days after payment of all sums as set forth under paragraph 1 above, the parties shall file a joint stipulation to dismiss the underlying action with prejudice.

4. Releases by Plaintiff DEADBEAT BANK in Favor Of Defendant Jackson212: Except for the obligations set forth in this Settlement Agreement, Plaintiff hereby release and forever discharge the Jackson212, from any and all claims, losses, liabilities, obligations, suits, debts, liens, contracts, agreements, promises, demands, damages, of any nature whatsoever, known or unknown, suspected or unsuspected, fixed or contingent, that Plaintiff ever had, now have, or hereafter may have, that are related to or arising out of the actions and circumstances surrounding the account or debt that is the subject of this action.

5. Binding Agreement. This Settlement Agreement shall be binding on, and shall inure to the benefit of, each of the Parties and their respective past, present and future predecessors, successors, subsidiaries, affiliates, officers, directors, employees, attorneys, insurers, agents, representatives and assigns.

6. No Admission. This settlement is a compromise of disputed claims and is not intended to be, and is not, an admission of liability or fault by any Party.

BOOOOOOMM both sides are happy. they get paid and you get your release from liability, case is over.

now the joint stipulation.

The parties hereto have reached a settlement agreement and no further litigation is necessary.

At the request of Plaintiff, DEADBEAT BANK, and upon the consent of the parties hereto, the undersigned do hereby stipulate and agree that this action be dismissed with prejudice and removed from the trial calendar forthwith.

both parties sign here

x________________

plaintiff

x________________

defendant

x________________________________

so ordered (judge)

you gotta get something of value out of this.

now everyone is really happy.

you pay, they gloat, case is over. everyone moves on

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It would be a good idea to follow his or her exemplar and adjust it to your needs. What a wonderful forum this is!

I didn't mean to interject too many personal things because it is about you, but yes...we walked in the payment a day before the due date. They processed the check and gave us a receipt. The next two days they notify us that our check bounced and that we needed to come in. They attached a $25.00 NSF fee to the balance of our account with them (although our check cleared at OUR bank and our bank applied no fees to the transaction) and that put us over the limit on our credit account, so then they assessed an over the limit fee and some other strange finance and insurance charges, which somehow added up close to $100.00.

This has all been documented and that corporation is known for doing things just like that. They've been sued by numerous attorney generals for fraud, shredding papers they were required to keep by law and even redlining with mortgages etc. I'm simply sad we got caught up with them in the first place and the situation has yet to be resolved. So pardon me if you think I am cynical. I have been burned a few times by these so called legitimate businesses and have seen others go through these things. We all want to deal fairly and honesty with our peers and with businesses, but we should expect the same of them and sadly the debt collection industry is rife with people who push the lines of ethics and fair dealing.

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I still don't understand what happened lol It's too hazy to make sense of it. Did you provide them with proof that the check went through fine? Did you have just enough in the account to cover the check? What do you mean they "processed" it? They didn't submit the check to a bank they did an electronic check? So confusing

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Tell them everything is acceptable except the stipulated judgement in number 4. Tell them you will use certified funds (cashiers check or certified check) to pay the settlement amount immediately so there is no need for the stipulated judgement language.

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I removed the waiver of my right to appeal the judgement. So if they try and pull that number I'll furnish the court with proof that I paid them the settlement amount on the day agreed upon

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There is nothing wrong with the settlement agreement they gave you. Garden variety stuff, and if you inend to make the payments you shouldn't worry about what could happen if you don't. Sign it and have them sign it and file it wif you wish. Make your payments by money order or casjer's check and send by certified mail so you know when they get them. Don't try to be too cute.

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I wasn't trying to be "cute," I was trying to protect myself from their one-sided agreement. By signing their original letter, I would have signed away all of my rights to dispute if they made a clerical error and didn't credit my account, etc. Not being able to dispute a judgement if I did remit payment on time is not fair.

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