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Roger
Roger, Attorney
Category: Bankruptcy Law
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Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I have an outstanding debt which is in the hands of a law ...

Resolved Question:

I have an outstanding debt which is in the hands of a law firm here in Louisville for collection. I have agreed to repay $200 a month (a $10,000 debt), but they are requiring that i sign an "Agreed Judgment". Of course I was served with a judgment notice prior. Is signing the agreement necessary?
Submitted: 8 years ago.
Category: Bankruptcy Law
Expert:  Roger replied 8 years ago.

If you don't execute an "agreed judgment", the creditor will notice the matter for a hearing and ask the court to enter a judgment against you. If you go this route, it is likely that the creditor will assess the court costs and attorney's fees to you, thereby making the balance you owe go up even more.

Thus, if you owe the money and have no defenses to the claim, you should probably just sign the agreed judgment and avoid unnecessary costs.

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