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Collections Law/Stipulation of Settlement Letter

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Expert: Creditwrench - 3/11/2008


Question
Good Day,
My wife and i have recieved a letter of Stipulation for Settlement. We are concerned that we should sign this, we have been told there is a court date set, and if we pay the lump sum total that this would consider this debt closed and payed in full. I have been reading and it seems we should not sign this letter. We have the money to pay this off for the settlement amount. Do we pay it and sign the paper or dont sign and still pay it.

Thanks, time is of the essence.

Answer
If you are going to pay it then just make them give you a receipt for your money. Make them prepare and sign the receipt before you pay them. Don't trust hem even as far as you could throw them. And above all don't sign any kind of stipulation. If you do that will be immediately turned into a judgment against you and filed in court. Never sign any such thing no matter how well it is disguised as something else or what it is called. They will burn you with it every time.  

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Creditwrench

Expertise

Debt Collections law, Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), federal law, how to properly answer court summons for collection cases, how to prepare federal cases against debt collectors, how to deal with debt collection phone calls.

Experience

I've been an active consumer advocate for more than 40 years and have helped hundreds of people win cases against debt collectors as well as helping them defeat demands for summary judgment lodged against them by banks, debt collectors and defeat mortgage foreclosures and keep their homes.

Education/Credentials
Paralegal courses for the most part.
I have been teaching people how to deal with judgments, mortgage foreclosures and other such problems both on and off the internet for many, many years. I am a Richard Cornforth information provider ever since 2000 and worked with many other organizations and causes since 1980. I was Oklahoma State Chairman for the nationwide drive to defeat the Constitutional Convention which was proposed by various factions within our federal government such as the Council of State Governments and the National Organization of State Governors who were working hard to organize a Constitutional Convention to be held in 1995 for the purpose of rewriting our American Constitution to be more acceptable to the United Nations. I worked with Senator Charles Duke of Colorado and Senator Don Rogers of California and many others across the nation to keep them from getting the number of delegate states required to lawfully hold a Con-Con and we were successful. I have worked with many other legislative issues in Oklahoma and have always been very successful.

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