aot2002 Posted February 10, 2012 Report Share Posted February 10, 2012 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? Link to comment Share on other sites More sharing options...
1stStep Posted February 10, 2012 Report Share Posted February 10, 2012 I'd counter...you never know if they will accept or not. Are you fighting a JDB? Link to comment Share on other sites More sharing options...
aot2002 Posted February 10, 2012 Author Report Share Posted February 10, 2012 yes JDB Link to comment Share on other sites More sharing options...
1stStep Posted February 10, 2012 Report Share Posted February 10, 2012 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... Link to comment Share on other sites More sharing options...
aot2002 Posted February 10, 2012 Author Report Share Posted February 10, 2012 lmao okay done. Link to comment Share on other sites More sharing options...
aot2002 Posted February 10, 2012 Author Report Share Posted February 10, 2012 Just in case all is well with such a crazy counter offer I was curious how to protect myself to get them to drop the suit etc.. What paperwork protects me? Link to comment Share on other sites More sharing options...
1stStep Posted February 10, 2012 Report Share Posted February 10, 2012 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. Link to comment Share on other sites More sharing options...
aot2002 Posted February 13, 2012 Author Report Share Posted February 13, 2012 drop the suit with predujice or without?Which is in my favor? Link to comment Share on other sites More sharing options...
aot2002 Posted February 13, 2012 Author Report Share Posted February 13, 2012 looks like with prejudice is the way to go... Link to comment Share on other sites More sharing options...
options Posted February 13, 2012 Report Share Posted February 13, 2012 Dismissal with prejudice effectively means the plaintiff cannot refile the suit in the future. Link to comment Share on other sites More sharing options...
1stStep Posted February 13, 2012 Report Share Posted February 13, 2012 And if they are waiving the remaining balance, then it's pretty much dead. Link to comment Share on other sites More sharing options...
aot2002 Posted February 13, 2012 Author Report Share Posted February 13, 2012 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. Link to comment Share on other sites More sharing options...
1stStep Posted February 13, 2012 Report Share Posted February 13, 2012 Read it over carefully - if you have doubts, find a lawyer to review it. Link to comment Share on other sites More sharing options...
aot2002 Posted February 13, 2012 Author Report Share Posted February 13, 2012 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 withrespect to the subject matter hereof and no modification of the Release shall bebinding 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... Link to comment Share on other sites More sharing options...
aot2002 Posted February 13, 2012 Author Report Share Posted February 13, 2012 Or should I sign then they sign and then I pay? Link to comment Share on other sites More sharing options...
1stStep Posted February 13, 2012 Report Share Posted February 13, 2012 Maybe sign at the same time at a neutral location Link to comment Share on other sites More sharing options...
aot2002 Posted February 13, 2012 Author Report Share Posted February 13, 2012 im out of state so it's not possible Link to comment Share on other sites More sharing options...
options Posted February 14, 2012 Report Share Posted February 14, 2012 (edited) 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 February 14, 2012 by options Link to comment Share on other sites More sharing options...
aot2002 Posted February 14, 2012 Author Report Share Posted February 14, 2012 okay thanks, they said they are willing to sign it first and send it to me. Link to comment Share on other sites More sharing options...
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