Settlement Agreement for Credit Card Debt:I received the final judgement to sign, but there are 2 paragraphs that are a concern."It is further ordered, adjudeged and decreed tha tall writs and process for the enforcement and collection of thi sjudgement may issue as necessary and that the Officer, including deputies, charged with obeying the command of any such writ or process may do so by any reasoncalbe means necessary to accomplish such task. ---PLEASE CLARIFY THE EXTENT OF LAST SENTENCE: 'ANY REASONABLE MEANS NECESSARY'.It is further ordered, adjudged and decreed that palintiff CACH, LLC is entitled to post-jusdement interest on said judgement o be computed at the rate of 18% per annum on the damage portion of the aware, and at the rate of 5% per annum as to all other amounts awarded herein, said interest to compounded as aloowed by law from the date of this jusegment until this jusdgmen is satisfied." ---PLEASE CLARIFY WHAT IS MEANT BY THE 'DAMAGE PORTION'.
Country relating to Question: United States
State (if USA): Texas
Hi,My name is XXXXX XXXXX X'd be happy to answer your questions today. We have recently implemented a new payment and feedback system. Please be aware that you are rating my courtesy and service as a professional, and not whether the answer supports your legal position. If you have any questions at all, or there is anything I can clarify for you, please bypass the rating system and click “Continue the Conversation” or "Reply". Choosing either of the lowest two options reflects poorly on me (and not the law), so please reply to me if there is anything I can do to help before choosing those options. I appreciate your patience while we work out the kinks.1. In this context, that might mean seizing property if you do not pay, or garnishing your wages. The United States doesn't have debtor's prison, so you wouldn't go to jail, if that's what you're concerned might happen.2. "Damage portion" is the amount of the award, not counting court costs or any attorney's fees that you're agreeing to pay, unless there's something in the language that says otherwise.If you have any questions at all about what I've written, please click "continue conversation" or reply so that I may address them. It's important to me that you are 100% satisfied with the service I have provided you. Thank you.
So if I don't agree to these terms and won't sign the agreement, what steps should I take and what steps may they take?
If you don't agree and don't want to sign it, you just don't sign it. You can tell them that you would like to negotiate a more favorable settlement, but you don't have to do that. Their remedy is to can sue you on the total debt. If they can prove that you made the charges, they'll get a judgment against you - and that can seriously hurt your credit. If they win, they'll likely get interest on the judgment anyway, so that usually wouldn't be a deciding factor in rejecting a settlement. Also, I apologize - Texas law does not allow them to garnish your wages, unless you specifically sign something authorizing it. For some reason, the state didn't appear initially. They can take money out of your paycheck only if you agree to it. But they could take any money out of your bank accounts that isn't due to your current wages, not including retirement accounts. The things they can do to collect aren't any different if you have a settlement approved by the judge as opposed to a judgment that is entered after trial.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).