How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask dylatess Your Own Question
dylatess, Attorney
Category: Bankruptcy Law
Satisfied Customers: 5156
Experience:  37 plus years of experience specializing in bankruptcy law
Type Your Bankruptcy Law Question Here...
dylatess is online now
A new question is answered every 9 seconds

Settlement agreement

This answer was rated:

Dear Bankruptcy Attorney:


Attached is another settlement agreement following from my last one that you have answer before for Chapter 13 to which I am the creditor in an adversary Proceeding.


This Agreement, made this the day of September, 2012 by and between Plaintiff and Defendant, whereby the parties have settled any and all issues existing between them upon the following terms and conditions:


Whereas, Plaintiff brought the above captioned adversary proceeding against Defendant, and


Whereas, Defendant has denied the allegations of Plaintiff, and


Whereas, Plaintiff and Defendant have agreed to settle their disputes upon the following terms and conditions:


Now Therefore,


  • Defendant agrees to pay the sum of Seven Thousand and 00/100 Dollars ($7,000.00) to Plaintiff, payable upon the approval of the Motion to Compromise by the United States Bankruptcy Court for the Eastern District of North Carolina.  The said sum has already been deposited to Mr. XXX trust account for the purpose of this settlement only.


  • IF the Plaintiff does not get the FULL $7000 after the court approve the settlement within seven (7) days for ANY REASON(S) AND the debtor has seven (7) days to cure that/those reason(s) after the 7 days the court approve the settlement, THEN this settlement agreement will be declared NULL and VOID and the Plaintiff will have the option to reopen this adversary proceeding.  The debtor will pay all costs associated with reopening this adversary proceeding in the United States Bankruptcy Court for the Eastern District of XXX.


  • Upon payment of said sum, Plaintiff agrees to dismiss the above-captioned adversary proceeding with prejudice.


  • Debtor, with her attorney, has read, agreed and FULLY understand this settlement Agreement.


Wherefore the parties and their attorneys have placed their hands to this SETTLEMENT AGREEMENT the day and year set out above.



Do you see anything that would cause me to not get the total said sum other than the court not approving the settlement?  If it is approve and I do not get the money, I can reopen the case right?  If it is not approved, then the case continue to where it left off?



Over 34 years, I have assisted my clients with debt problems having filed more than 32000 Chapter 7 and Chapter 13 Bankruptcy petitions.
The settlement agreement does outline your remedies in the event of the debtor not paying you. lIkewise, you can reopen the case based on the debtor's breach and pick up where you left off.
dylatess and other Bankruptcy Law Specialists are ready to help you