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Indy17

80% settlement vs losing summary judgement

10 posts in this topic

The only settlement I could get out of stenger and stenger is 80% of the balance. I only have a couple days to reply to their motion for summary judgment and I don't have any idea how to fight it. Should I just take the settlement? total of $3600.

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80% is on the $3,600 with no costs or legal fees being tacked on, right? So like $2,900 'out the door'? Figure with a judgment there will be another $1,500-$2,000 on top of the $3,600 for costs and fees and suddenly 80% is more like 50%. Not a bad deal considering you're probably facing near certain judgment at this point in the game. 

I'd seriously be taking a stab at arbitration, even if there's a good chance you may have waived your right. 

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the total is $4600, so about 1,000 knocked off. They are not pursuing legal fees, and the court fees are only like $187. The contract does not have an arbitration clause.

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24 minutes ago, Indy17 said:

They are not pursuing legal fees

How do you know? They don't usually request them until after judgment has been entered. Every credit card agreement provides for legal fees so it's not something they would have to argue over in any of their filings. They might have to ask for them in the complaint, but in a case where there is a contract that expressly says loser pays, it's probably not necessary. 

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That's pretty incredible. If arbitration is off the table, I think I would roll the dice and respond to the MSJ.

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I have no clue without knowing what they are arguing or seeing the evidence they are basing it on. I can tell you that it took me all of the 45 days I was allowed to write mine.

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Well, they seem to have a pretty solid case against me, and I have no argument in regards to material fact to fight them. Nor do I have the time right now. I don't think losing in court is better then settling at 80% - is that the case?

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The hitch will be if you can pay in a lump sum (or successfully complete a payment plan) to avoid having a judgment on your record. Usually to get the discount you have to pay in a lump sum, and a payment plan would be for the full amount and possibly costs and fees. 

I think I would throw something together in terms of an opposition to the MSJ. On the chance the MSJ gets denied, you'll potentially have better negotiating leverage. 

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