Archive for February, 2010

Collection Attorney Negotiation

February 17th, 2010

This question was posed to me recently: Do Collection attorney handling a collection matter negotiate?

The answer is: Generally they do. It all depends on their client (your creditor). The bottom line is all offers made by you to them must be presented to the client. So say you owe $500.00 and you tell the attorney that you want to settle for $50. Although the offer is crazy, he still has to let his client know about it and the client then has the option to give you a counter offer and the negotiation process begins.

Most collection attorney want to settle their case so negotiation is always encourage because it saves every one’s time and money.

So if you have a debt and an attorney contacts you or file suit against you, it is always a good idea to call, write, or email to see what can be done to work out a deal. You are better off avoiding the Answer fee and putting it toward your settlement payment.

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Posted in Collection, Information

Abstract of Judgment

February 4th, 2010

The abstract of judgment form is something that you need to fill out and file with the court if you want to place a lien against a debtor. Once it is filed, you also need to record it with the county that your debtor might have real property in.

It was recently asked, what does “A stay of enforcement has not been order by the court” mean. That box in the abstract of judgment form needs to be checked so that you can get your abstract of judgment from the court. It says that no court, most likely the bankruptcy has not order a stay of your case has not been order. A stay basically puts a stop to your case and doesn’t allow you to enforce your judgment.

So if you debtor has not done anything to get the court to stay enforcement of your case, you can go ahead and enforce your judgment.

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Posted in Information, Judgment