Since they are represented by an atty., I think it would be best to contact the atty. Just make an offer you can live with. If you owe $1900, then offer 60 - 70 %. The worst that can happen is they say no. Ask them to agree to a joint motion to vacate judgment. If they agree, I'm sure we can help you write one up.
I would probably contact the creditor by letter. They may refer you to the attorney however. You will probably get a better deal if you can keep the attorney out of it.
In your letter explain that you would like to discuss a settlement. Keep you letter brief and invite them to contact you to work out the details. It has been long enough that they may be anxious to settle for a reduced amount.
When you pay a judgment a 'satisfaction of judgment' should be filed. This will show the judgment has been satisfied and it should be reported as paid on your report. A 'motion to vacate judgment' would likely be approved by the judge if you file the motion jointly with the creditor. You can ask that this be part of your settlement. If the judgment is vacated you can then have it deleted from your report easily.
Your mortgage lender will really only want to know that the judgment is paid. I just thought that if you are going to negotiate a settlement this would be prime time to get it vacated and off your report completely. The creditor probably could not care less whether it is vacated if they get their money. Just a suggestion :)
I agree LKH that it is more appropriate to contact the attorney, but since Terri is not a lawyer I think not following the protocol is OK. My thinking is that she may get a better deal if she can somehow bypass the attorney. It may not be possible.
For Settlement Purposes OnlySeptember 18, 2002I understand that you have a judgment against me. I would like to make an agreement with you to settle the debt. I am in the process of trying to settle old debts, and I would like to settle this one next.I can get $650.00 and send it to you immediately. Would you be willing to accept this amount as payment in full for the debt? I have a large family to support and I am hoping you will understand that I have worked hard to find a way to get this amount so I could offer it to you in hopes of settling for the sake of my wife and children.If you agree, please sign the enclosed letter and return it to me. I will mail a cashierâ??s check to you (certified mail) in the amount of $650.00 within 48 hours of receiving the signed form.Thank you,
For Settlement Purposes OnlyDate_______________________We (creditor) and (husband) agree to the following:Creditor is willing to accept $650.00 as payment in full for debt against husband of $2464.00.( Judgment CVF 1999 4567) We creditor agree not to sell the remaining portion of the debt to be collected by another party.We creditor agree that we will enter into a motion to vacate judgment order with husband.
Is this too simple???
I have searched for state laws, and forms to be used for vacating judgments. I was hoping to find some language or the exact law allowing this, but I had no luck.