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Am I way off base countering this offer?


aot2002
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I got an offer to settle a lawsuit originally for 9K and they offered me 2K today 4 months later since I think they know they are not going to win.

I am willing to pay 800 dollars but beyond that my ego feels like its better to pay 1500 to a lawyer and get it thrown outa court.

Am I way off base here please tell me if I should counter offer that low?

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OK...so they probably bought the debt for maybe 10 cents on the dollar...budget a couple of hundred for legal fees... you answered, maybe had a hearing or two - and you're getting close to their erasing their profit margin. That's why they're sending you settlement offers.

Counter with $500...

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So if they accept, you want an agreement that spells out that in exchange for $$$, the debt is considered settled in full, and any remaining balance cannot be sold, transferred, assigned or subrogated to a third party. Make sure that there is non-disclosure language in the agreement.

Also, you want the alleged debt removed from your CR too.

Lastly put in a liquidated damages clause in case of a breach.

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I've requested for all those changes I am awaiting for them to prepare paperwork but at this time they agreed to 800 dollars settlement for a 9K suit.

I need to be sure when they prepare the MUTUAL RELEASE & SETTLEMENT AGREEMENT that they do not attempt to make me sign it stating that I agree that I owe the original funds.

I just don't trust these JDB's.

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It's written well enough that I understood everything the only thing that bothers me is this final piece.

9. This Release constitutes the sole and entire agreement between the parties with

respect to the subject matter hereof and no modification of the Release shall be

binding unless signed by all parties to this Release.

If they don't sign it then it's not valid ... correct?

I'm trying to determine who signs first etc...

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It's written well enough that I understood everything the only thing that bothers me is this final piece.

If they don't sign it then it's not valid ... correct?

I'm trying to determine who signs first etc...

You misunderstood. This is standard language that prevents either party from later claiming that "there were also other things orally promised that just weren't reduced to writing." As long as the written agreement contains everything you were promised, then that clause is fine.

Edited by options
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