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John, Attorney
Category: Legal
Satisfied Customers: 5687
Experience:  Licensed and practicing attorney.
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Hi ,Two years ago I lost a suit in which the award equals $40,000.00.

Customer Question

Hi ,Two years ago I lost a suit in which the award equals $40,000.00. Last year, June 2012, I sent a payment plan to the Plaintiff's Attorney, via certified mail. As I do not have $40,000.00 laying around In June of 2013 , said Attorney, sent me letter
threatening to turn the matter over to collection. My question is, A) any statues of limitation ? B) If they are willing to turn the matter over to collection, that really means they would except half of the award, as the Collection company gets up to 50 ?
C) can I sue for defamation for dragging me throught the collection process, and probably ruining my credit to rating to boot ? as I made an offer over one year ago
Submitted: 4 years ago.
Category: Legal
Expert:  John replied 4 years ago.
Hi, thanks for submitting your question today. To specifically answer your questions:
A) Judgments last for 10 years in Indiana. So they would have 1o years from the date of its entry to collect on it.
B) Collections will charge a substantial amount of the debt depending on what type of agreement there is. Some will just have the agency try to collect on it - in which case they share around 40% of whatever is collected. In other cases, collection agencies purchase the debt for around 10% of the value of the debt. The collection agency never has a greater right to the debt than the original judgment creditor.
C) There would be no claim for defamation in your matter. First, having a judgment entered against you to begin with substantially harms your credit. Second a judgment creditor has no legal obligation to accept your offer for payments of a judgment. To defame you, they would have to have said or wrote something false about you with he intent to mislead others that it is in fact the truth. There has been no such untruthful statement or writing from what I have reviewed in your question.
I believe this answers your question. However, if you need clarification or have follow-up questions regarding this matter, I will be happy to continue our conversation – select the Reply to Expert or Continue Conversation button. If you are otherwise satisfied with my response, please leave a positive rating as it is the only way I am able to get credit for my answers. Thank you, ***** ***** wish you all the best with this matter.