We are behind on some large bills from a customer delaying substantial orders. Current issue:$70k payable from January paid down to $56k in June/July. Then we were sued. Local counsel, out of state supplier. Supplier said "talk to the lawyer," not me.
Lawyer seems reasonable, but wants us to stipulate that if we miss a payment on our yet-to-be-negotiated plan, we would stipulate judgment that would allow them to attach our bank account for the total.
1) is there a reasonable settlement
that does NOT include that stipulation? Dismiss the suit, promise to pay, have penalties if we miss... lawyer seemed resistant, but I don't have context for reasonableness.
2) are there rules of thumb for paying this down? Web site references? We can probably afford to pay $3k/month, but not more. I'm guessing a judge would agree with our plan if they chose to fight this in court, but I'm only guessing.
3) because of a bad handoff with our regular attorney, whom we can't afford, we may be up against some deadlines. Can we put close pandora's box with new counsel if necessary?