Jkap Posted March 28, 2012 Report Share Posted March 28, 2012 In a nut shell, I lost to Discover in court who was represented by the Howard Schiff office, they got a judgment a year and a half ago and placed a lien on our property, I am self employed. Debit is currently for $24,000, i cried poor recently and threatened BK, offered them $6k with $2k down the rest paid over a year. They countered @ $8,900 paid over 1 year which is $741/mo - which a big payment every month.My wife maybe able to refi our house with some cash back to do a lump sum. Do you think I could get it knocked down at all offering a lump, maybe to $6k? Or should I be happy with this and go on?I really need help with the terms. They (Shciff) have sent me a signed offer stating: "Payments must be received in the order as stated above or the settlement offer will be withdrawn and the full balance will be due on this file.Upon clearance of funds, the above referenced matter will be closed as settled in full & the above referenced docket will be withdrawn and/or satisfied."That is itCan I get some advice as to any other language I should request in the agreement, specially considering they have a lien on our property? Any suggestions would be greatly appreciated.Thanks in advance Link to comment Share on other sites More sharing options...
BV80 Posted March 28, 2012 Report Share Posted March 28, 2012 What about $2000 down and $6900 over 12 months which would be $575 per month? Would you be able to swing that? Link to comment Share on other sites More sharing options...
options Posted March 29, 2012 Report Share Posted March 29, 2012 Offer them $7200 split into three monthly payments, in return for them vacating the judgment after last payment is made. Link to comment Share on other sites More sharing options...
Jkap Posted March 29, 2012 Author Report Share Posted March 29, 2012 Ok Options,Think it matters if I work directly with the local attorney or directly with the national Schiff office? The attorney is busy and slow to respond.If they agree to Vacate, what then happens to the lien? Do i need to make any special requests on that?Is there any other language I should try to get added? Link to comment Share on other sites More sharing options...
options Posted March 29, 2012 Report Share Posted March 29, 2012 The judgment serves as the legal basis for the lien. Once the judgment is gone, so should the lien. Consult your local rules of civil procedure. Link to comment Share on other sites More sharing options...
Guest usctrojanalum Posted March 29, 2012 Report Share Posted March 29, 2012 if the judgment is vacated, the lien will be vacated too. You will not be able to refi the house without paying off the lien. If you decide to refi, Schiff and discover will probably less likely to take a deal because the refi will not go through if the lien is not released. In that scenario they basically are holding you by the you know what. Link to comment Share on other sites More sharing options...
Jkap Posted March 29, 2012 Author Report Share Posted March 29, 2012 Yes I do understand about the refi, that is why I am trying to get a figure negotiated prior to starting a refi.Thank you for the Vacate clarity. Should I ask to add any additional language to the agreement to protect me. Like a requirement as to how quickly they must act after final payment in regards to credit reporting or judgment removal? or any other suggestions? Link to comment Share on other sites More sharing options...
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