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Renegotiating Settlement


halohonk
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1. Who is the named plaintiff in the suit? Laguna Heights Marketplace, LLC

2. What is the name of the law firm handling the suit? (should be listed at the top of the complaint.) Morasse Collins and Clark

3. How much are you being sued for? Was being sued over $400K but case is settled

4. Who is the original creditor? (if not the Plaintiff) Plaintiff

5. How do you know you are being sued? (You were served, right?) Served

6. How were you served? (Mail, In person, Notice on door) In person

7. Was the service legal as required by your state? Yes

Process Service Requirements by State - Summons Complaint

8. What was your correspondence (if any) with the people suing you before you think you were being sued? Letters, phone calls, emails, in person meetings

9. What state and county do you live in? Orange County, CA

10. When is the last time you paid on this account? (looking to establish if you are outside of the statute of limitations) This month

11. What is the SOL on the debt? To find out:

Statute of Limitations on Debts

12. What is the status of your case? Suit served? Motions filed? You can find this by a) calling the court or B) looking it up online (many states have this information posted - when you find the online court site, search by case number or your name). Settled

13. Have you disputed the debt with the credit bureaus (both the original creditor and the collection agency?) No

14. Did you request debt validation before the suit was filed? No. 

15. How long do you have to respond to the suit? 30 days - filed a long time ago 

 

We need to know what the "charges" are. Please post what they are claiming. Breach of Written Lease, Breach of Written Guaranty

 

Did you receive an interrogatory (questionnaire) regarding the lawsuit? Yes.

Here is an example of what the summons/complaint may look like: Sued by a Debt Collector - Learn How to Fight Debt Lawsuits

16. What evidence did they send with the summons? An affidavit? Statements from the OC? Contract? List anything else they attached as exhibits.

Signed lease.

 

I settled this case with the Plaintiff 5 months ago and have made the agreed to payments on the settlement but unfortunately I haven't found work and can't afford to make the remaining payments. I want to know what advice you can give me about the possibility of renegotiating the settlement to a more affordable amount. Can that even be done? Any tips as to how best to communicate with opposing counsel in regards to this?

 

 

 

 

 

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I settled this case with the Plaintiff 5 months ago and have made the agreed to payments on the settlement but unfortunately I haven't found work and can't afford to make the remaining payments. I want to know what advice you can give me about the possibility of renegotiating the settlement to a more affordable amount. Can that even be done? Any tips as to how best to communicate with opposing counsel in regards to this?

 

It might be possible to renegotiate but the plaintiff is under no obligation to do so.  Before going to them pull out ALL your paperwork regarding the settlement and see what it says.  Many times when a settlement is reached in agreement for payments, the agreement includes language that states whether you can re-negotiate.

 

It also may include language that says if you default on the payments the settlement is void and the entire amount becomes due and is an automatic judgment so that they do not have to go back to court.  If that language is in there your leverage decreases dramatically as they can get a lot more by digging in theoretically.

 

For a debt that large you might want to speak to a BK attorney.  That might be your best option.

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Basically the settlement is defaulted and you start all over.  They will want the full amount.  You claim you have no means to pay until you have a job.  Offer the original settlement again, with an added clause that payments be suspended when you are not employed.  Maybe (but not always) they might fear that you could file for bankruptcy if they pursue harder.

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