Can I negotiate after a Judgement?
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Can I negotiate after a Judgement?
If you can afford to pay a decent lump sum, you may be able to negotiate a settlement. The judgment creditor may be willing to settle if they fear you will otherwise file bankruptcy. Get the terms and settlement amount you agree upon in writing.
How much should I offer to settle debt?
Some want 75%–80% of what you owe. Others will take 50%. Those that have given up on you may settle for one-third or less. Before you make an offer, however, decide your top amount and stick to it.
Can you dispute a debt that was sold?
The post advises people to dispute collections––which is a right you have under the Fair Credit Reporting Act. 3 You’re further encouraged to list “contract was cancelled” as the reason, under the assumption that a debt that’s sold to a collection agency is cancelled.
Does disputing a debt restart the statute of limitations?
But, if you make a payment on that debt, then you may have just reset the clock to 0 and now your creditor can sue you for the next three years. And the bad news doesn’t end there. According to the Federal Trade Commission: ‘ This means the clock resets and a new statute of limitations period begins.
