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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Consumer Protection Law
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Experience:  B.A.; M.B.A.; J.D.
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bankruptcy

Customer Question

bankruptcy
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Phillips Esq. replied 1 year ago.
Thank you for giving me the opportunity to assist you. Kindly use CONTINUE or REPLY button to ask for clarification or follow-up questions.


What is your question?
Customer: replied 1 year ago.

I am currently in a Fed trial on a student loan issue. I have found that, an injustice in my opinion, that the laws are such (like no statute of limitations, etc.) that it's almost impossible to win such any case against the US; I believe I will be judged against. Therefore, my question becomes, knowing that I will get a judgement against me, should I try and negotiate with the counsel of holder of the note (US) before the judgement is handed down, so hopefully no judgement appears on my credit report, etc.., or should I try and negotiiate after the judgement? And what are considerations in between that I should consider?

 

Thank you,

 

Not sure went thorugh, so re-submitting...

Expert:  Phillips Esq. replied 1 year ago.

Thank you for the information:

I am currently in a Fed trial on a student loan issue. I have found that, an injustice in my opinion, that the laws are such (like no statute of limitations, etc.) that it's almost impossible to win such any case against the US; I believe I will be judged against. Therefore, my question becomes, knowing that I will get a judgement against me, should I try and negotiate with the counsel of holder of the note (US) before the judgement is handed down, so hopefully no judgement appears on my credit report, etc.., or should I try and negotiiate after the judgement?

Response 1: You should try to negotiate settlement before Judgment, preferably before you go to trial. The Court encourages settlement through use of case management conferences such as Rule 26f Conference where the parties would confer and narrow issues for trial. You want to settle now instead of going through the Discovery Requests that would most certainly ensue including a possible deposition. So, you should save yourself a lot of grief and anxiety that come with litigation and settle the case. In any settlement, you would not only seek the reduction of the principal, you would seek the reduction of the interest rate and manageable monthly installment amount—the installment amount agreed on must be manageable for you.

 


And what are considerations in between that I should consider?


Response 2: See my previous response.

Phillips Esq., Attorney-at-Law
Satisfied Customers: 13079
Experience: B.A.; M.B.A.; J.D.
Phillips Esq. and 11 other Consumer Protection Law Specialists are ready to help you
Customer: replied 1 year ago.

Got it..


However, just to be clear, we are already in trial, Plaintiff has filed for summary judgement and my answer is due by the 6th, next Monday. Therefore, just to clarify my mind, once a judgement is final, that goes on your credit report, correct? If you settle, that will NOT go on you credit report, correct? Therefore, I have probably @ 2 weeks, or less, to settle with Plaintiff, correct? Or maybe, if I was forced to, I could file an appeal and that would push back the time of final judgement, correct? thoughts


 


Thank you,

Expert:  Phillips Esq. replied 1 year ago.

Got it..

However, just to be clear, we are already in trial, Plaintiff has filed for summary judgement and my answer is due by the 6th, next Monday. Therefore, just to clarify my mind, once a judgement is final, that goes on your credit report, correct?

Response 1: Maybe. Sometimes, for one reason or another, the Court does not report the Judgment. So, it is not a done deal that the Judgment would appear on your credit file. On the other hand, there is no guaranty that it would not appear later.

If you settle, that will NOT go on you credit report, correct?

Response 2: Yes, because there is no Judgment in the case if you settle the case.

Therefore, I have probably @ 2 weeks, or less, to settle with Plaintiff, correct?

Response 3: Yes, especially with the Summary Judgment Motion pending before the Court. So, you need to act quickly to settle.

Or maybe, if I was forced to, I could file an appeal and that would push back the time of final judgement, correct? thoughts

Response 4: You can, but it should not come to that. You should approach counsel for the government for settlement at this time. Student loans are very difficult to get rid off, unfortunately.

Phillips Esq., Attorney-at-Law
Satisfied Customers: 13079
Experience: B.A.; M.B.A.; J.D.
Phillips Esq. and 11 other Consumer Protection Law Specialists are ready to help you
Customer: replied 1 year ago.

Hopefully - however, it's a substantial amount of money, and I don't want to be rushed into a long term bad deal...that's what got me into this mess in the first place.


How much is it to file for an appeal? And roughly (minimum...say they didn't even accept the appeal) how much time would that garnish me? and if they did accepet the appeal, @ how much time, guesstimate, would that offer?


 


If I was to settle, and then I couldn't perform on said settlement for whatever reason, how would they proceed in their collection efforts? Would they re-sue me, or would it be an automatic judgement ?


 


Thanks

Expert:  Phillips Esq. replied 1 year ago.

 

Hopefully - however, it's a substantial amount of money, and I don't want to be rushed into a long term bad deal...that's what got me into this mess in the first place.

Response 1: I quite understand. I did not mean to sound like I was rushing you. I should have framed my response a little differently.

How much is it to file for an appeal? And roughly (minimum...say they didn't even accept the appeal)

Response 2: Filing fee is $450.00. For schedule of fees, click on the link below:

http://www.uscourts.gov/FormsAndFees/Fees/CourtOfAppealsMiscellaneousFeeSchedule.aspx

And roughly (minimum...say they didn't even accept the appeal)

how much time would that garnish me?

Response 3: Immediately after the appeal is denied.

and if they did accepet the appeal, @ how much time, guesstimate, would that offer?

Response 4: I cannot tell you because it would depend on the docket. You need to contact the Appeals Court's Clerk's office for this question.

If I was to settle, and then I couldn't perform on said settlement for whatever reason, how would they proceed in their collection efforts? Would they re-sue me, or would it be an automatic judgement ?

Response 5: They would re-start the case. Remember that after you reach settlement, a Stipulation for Dismissal would be filed by the parties. One of the provisions in the Stipulation is that the case is being dismissed without prejudice meaning that it can be filed again. There is no automatic Judgment

 

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