AP filed

[HHM]

really des, are there truly any "reasonable" minds left...LOL!!

although, as difficult as it is to prove there is no substantial justification, isn't fraud just as difficult to establish? one would like to think the court views everyone the same. i guess not, many times even if you have it in black and white.....even then, it seems many times it can be turned into a muddy gray.

edit: just personally, i hate seeing these lenders doing this to people. it's like being blackmailed into paying them. you just give up your rights and say oh well, it's cost effective not to fight the bigmonster so let them just eat me....wai! firstt let me add a bit of salt and pepper so i taste better while they swallow me up!

The problem for the OP is that the creditor called their bluff. It happens. The OP's attorney did nothing wrong, it is usually what I recommend, make the creditor file the AP. From the creditor's attorney, they are thinking, is this person really going to invest $3,000+ in defending a $4,200 claim...the logic goes both ways...and this creditor attorney decided to call the bluff and see what happens. Now the OP must decide what to do, defend or settle.

[tobee43]

i understand that this creditor called the OP's bluff. i just think it's sad that one cannot really apply logically, any real problem solution thinking when trapped. of course, i personally would not bite or chew off my leg to get out of the trap. however, it's still difficult to sit in that trap until one is forcefully released by it's preditor...oh!!!! i mean creditor. ( i know that's a gross analogy). but....

[sh9730]

HHM,

After reading here for awhile now, I agree that it often makes sense to wait until the creditor actually files like you say, but what I was saying is that responding to the scare letter saying the debtor wouldnt pay "until" you filed left more of an impression that the debtor may pay if you file, whereas completely ignoring the letter may not have ended in the same result. No way to know for sure either way though of course.

[tobee43]

i agree with that as well. i most certainly wait until the ap is actually filed by the creditor.

[reynold975]

AP filed/settlement question

I read through the paper work a little closer today. It states as a proposed settlement 1. The sum of $3,000.00 owed by Defendant to Plaintiff is found to be nondishchargeable and plaintiff is granted judement against defendant in this amount.
2. The non-discharged sum of $3,000.00 shall be paid as follows: the sum of $75.00 per month, each month for 20 months, commencing 7/15/2011. The remaining payments shall be due on the same day of each month thereafter. While not in default such principal shall not bear interest. My question $75.00 x 20 = $1,500.00. Does that mean I only have to pay $1,500? It goes on to say 4. in the event defendant defaults on payments, plaintiff shall be entitles to declare the sum of $3,000, plus any interest, immediately due and payable, together with plaintiffs reasonable attorneys' fees and cost incurred.

[sh9730]

First, it sounds to me like they have already filed the AP - AND - recieved a judgement? I thought your other posts on this said they had filed, but it had not yet been litigated. Now it makes sense that the lawyer tells you to just settle!

I cant help you on this question though...doesnt make sense to me....

[reynold975]

We got the threat letter about 3 weeks ago. The ap was filed last week. This is what they want us to sign agreeing to a settlement. The wording (judgement) etc I don't understand either.

[despritfreya]

Sounds like the creditor made a mistake. It meant 40 not 20 months. Check with your attorney.

Des.

[AngelinaCatHub]

Sounds like the creditor made a mistake. It meant 40 not 20 months. Check with your attorney.

Des.

Hey Des, I don't see it that way. I see, (1) this is a settlement, and that IF, they default, then all of it, the 3K will be on them. In any case, I would sign that agreement if they do not want to file it in AP, and if they accept this, error or not, they got a break and a contract that should be abide by. Please make me believe otherwise. 'Hub

[despritfreya]

Hey Des, I don't see it that way. I see, (1) this is a settlement, and that IF, they default, then all of it, the 3K will be on them. In any case, I would sign that agreement if they do not want to file it in AP, and if they accept this, error or not, they got a break and a contract that should be abide by. Please make me believe otherwise. 'Hub

Yes, at first I thought it was a judgment with covenant not to execute so long as payments towards the $1500 were paid but. . . and this is why doing multiple threads is a problem. . . read:

http://www.bkforum.com/showthread.php?70996-AP-filed&p=521825#post521825

The creditor is offering to settle for $3k, not $1,500.00. So, either payments are $75/40 or $150/20. Either way, sounds like a mistake in the letter that will be caught with final draft of settlement.

Des.

[AngelinaCat]

I have merged the two threads in question.

[reynold975]

We received the settle from the other attorney stating to have us sign it, along with our attorney and return it to them. My attorney said to just sign it. But I don't want to sign it when it isn't clear what we're agreeing to.

[LadyInTheRed]

We received the settle from the other attorney stating to have us sign it, along with our attorney and return it to them. My attorney said to just sign it. But I don't want to sign it when it isn't clear what we're agreeing to.

I don't blame you. If I was presented with that offer, I would cross off both places where it says $3,000, write in $1,500, initial next to each correction and then sign it.

First, it sounds to me like they have already filed the AP - AND - recieved a judgement? I thought your other posts on this said they had filed, but it had not yet been litigated. Now it makes sense that the lawyer tells you to just settle!

I cant help you on this question though...doesnt make sense to me....

The wording (judgement) etc I don't understand either.

If you enter into the settlement, the creditor will ask the court to enter a judgement in the AP that is consisent with the terms of the settlement.

[helpmeout]

We received the settle from the other attorney stating to have us sign it, along with our attorney and return it to them. My attorney said to just sign it. But I don't want to sign it when it isn't clear what we're agreeing to.

I would try to get the amount lower. Remember, it's going to cost the creditor money to do an AP, as well. Probably more than what they MAY get. Your attorney really isn't doing a very good job of representing you if s/he is going to accept the first settlement offer and not bother to get it lower. Because chances are good that they will go lower.

[tobee43]

i would do exactly like one of the PP's suggested where as you would cross out the 3k amount and put the 1500 and initial it as well. send it back certified mail.

i would think that settlement would be less that what you'd pay on atty's fees to fight the ap. then of course as someone else has pointed out, you'd be asked to sign an agreement at the time the issue is settled.