My wife and I have a 3rd party CA located in AK trying to collect from an Washington Mutual Account. We are in Tennessee. I have sent a Validation letter but no results yet. I have received a summons from them for a May court date. They do not want to settle for anything less than 85%. I can't afford lump sum payments but can pay a settled amount monthly if not too large. They mention an agreed settlement/judgement and not go to court. Not sure what that means, or we can go to court. Any advice??? Please Thanks!
I wouldn't sign an agreed judgment. Your goal is to get through this and not have a judgment on your credit reports, and there is very little difference between an agreed judgment and court ordered judgment on your credit reports. The contract under which you agree to make payments on this debt should be completely separate, and you should negotiate your credit score at the same time too. Have you responded to the summons yet? Don't ignore that...it's important that you respond or find a good attorney that will help you through the process.
