[heygreg]

I have an 8K judgement in my name. Since that can't take my homestead here in FL, and since it doesn't apprer on my "public records" file on all 3 credit agencies. I decided to just let it sit for 3 years. The first year they wanted to settle for $7K. I said no.

What do you think I should offer them at this point?

I can't refinance until this is gone, because at closing time I'll be forced to pay the full sum.
Don't want to do that, I'd prefer to give them the same screwing I received.

It's a major bank. I'm not sure if I'm allowed to use "names" on this forum or not. To keep things safe (and fair), I'll mention that they are either #1 or #2. According to the news this week... they are now #1. guess who? :)

The house is in "joint tennancy" as well. Another really nice road block for lawyer thirsty, blood suckers.

Thanks and stay warm you folks up north. The waters warm down here in FL.

[Fr_Chuck]

Let me see, you owe them money, they are trying to collect the money you owe them, and now you want to know the best way to cheat them out of as much of that money that they are owed ?

They have a judgement and have put a lien on the home, ( and yes in most cases they can not take the home) but they can also go ahead with a judgement and attach any bank account in your name and if you are working also garnish your wages.

So normally they are trying to settle from a position of power.

And yes if the info you are posting is true, you can use their names.

[mr.yet]

This judgment against you will continue to cause you problems, You should have taken the first offer. It will not go away and it will continue to draw interest on the unpaid amount.
If you refinance they will get their money, and you will pay a higher interest rate to refinance.

YOU LOSE EITHER WAY.

[heygreg]

Let me see, you owe them money, they are trying to collect the money you owe them, and now you want to know the best way to cheat them out of as much of that money that they are owed ?

They have a judgement and have put a lien on the home, ( and yes in most cases they can not take the home) but they can also go ahead with a judgement and attach any bank account in your name and if you are working also garnish your wages.

So normally they are trying to settle from a position of power.

And yes if the info you are posting is true, you can use thier names.

:confused: :confused: :confused: :confused:

Yes... cheat them out as MUCH as possible.
There's fair, and then there's not fair (aka getting f#@%ed)

They cannot garnish wages... self employed, corporate idenity. Base is covered.

All assests covered!

Been in business 20 years my friend. I've been reamed, steamed and dry cleaned from just about everyone because I always done the "right thing". The rule of "do right" is still my main principal in life and business. However, my "new rule" when I dealing with someone who's out to screw is to give them the same treatment in return.

They had their opportunity twice to get their money in full prior to court. B of A would not assume fault for a simle error. They denied my money and "HAD" to do the legal process. This is the only way B of A settles issues (big or small) is with their team of lawyers who all graduated from Law school the year pror. B of A is too big and blunders constantly. Ask any real estate attorney. My employee has to hire an expensive attorney right now because B of A issued satisfaction on 2nd, even though there was 38K outstanding. He has nothing to do with this with regard to "legit fault" but does from a legal presedence. $3K down the drain for him! Nice, when your trying to raise 2 small children and just getting by.

So the question is not about "how to cheat them", it's about how little I can settle for. There's a difference.

Lets get practical, does "power" always work? Try using a position of "power" in almost any disagreement and your lucky to win 10% of the time.

I was thinking of offering 50% and wanted to know if anybody (anybody else) had a comment from experience.

Thank you.

[DrJ]

Aim low... remember it is a negotiation. They don't know that you want to refi and therefore, judgment or not, they have very little power/leverage here. Shoot for 30% even. I have heard some people that have written a letter explaining that they will be sending them a check for 50% of the balance for settlement in full and cashing of this check will acknowledge agreement to this settlement. Then, the next week, sending a new letter stating the terms of the settlement along with a check for the settlement amount and stating (again) that cashing this check means that they agree to the terms. The strategy here is that they will have a $3-4K check in their hands... and that's better than nothing!

Also, no... a judgment amount cannot accrue interest. Otherwise, the company will have to get another judgment on that new amount (interst included). The judgment they have is for a specific amount and that's all that is proven that you owe.

[ScottGem]

Let me ask this. Did you appear in court when they won the judgement? Did you present your evidence?

I tend to side with Chuck here. For some reason (and you have only obliquely referred to it) you feel that they committed an error and are in the wrong. Yet they presented evidence in a court and were granted a judgement based on that evidence.

You can make any offer you want, but they have a lien on your house. Therefore they have the upper hand (I disagree with Dr J here). All they have to do is sit tight and wait. They will get the full amount.

[heygreg]

Let me ask this. Did you appear in court when they won the judgement? Did you present your evidence?

I tend to side with Chuck here. For some reason (and you have only obliquely referred to it) you feel that they committed an error and are in the wrong. Yet they presented evidence in a court and were granted a judgement based on that evidence.

You can make any offer you want, but they have a lien on your house. Therefore they have the upper hand (I disagree with Dr J here). All they have to do is sit tight and wait. They will get the full amount.

No, did not go to court intentionally. I allowed it to go default. Why? Why fight something you know you'll loose. They wouldn't take my money up front, they had to follow protocol, therefore I understood the outcome from the get go. I knew I'd have better results afterwards. So here we are again...

So I'll just start with a $3K offer and see what happens.

[ScottGem]

No, did not go to court intentionally. I allowed it to go default. Why? Why fight something you know you'll loose. They wouldn't take my money up front, they had to follow protocol, therefore I understood the outcome from the get go. I knew I'd have better end results afterwards. So here we are again...............

So I'll just start with a $3K offer and see what happens.

Frankly you have only yourself to blame. Their getting a judgement was NOT a foregone conclusion. If you could show proof of the error and of your attempts to pay, there was a good chance you could have forestalled the judgement.

Now you have to live with the consequences of your actions. Like I said previously, they have the judgement, they have a lien, they are in the drivers seat.

[heygreg]

Frankly you have only yourself to blame. Their getting a judgement was NOT a foregone conclusion. If you could show proof of the error and of your attempts to pay, there was a good chance you could have forestalled the judgement.

Now you have to live with the consequences of your actions. Like I said previously, they have the judgement, they have a lien, they are in the drivers seat.

I have five judgements againt others from the late 80's through the mid 90's... and guess what? I have NOTHING! Judgements mean nothing. Collecting a judgement means everything, for which they cannot (nor could I).

[ScottGem]

Judgements do not mean nothing, but there is a significant Catch 22 when you sue someone. Getting the judgement is only half the battle. Collecting is the other half, maybe more than half. Just because you were unable to collect doesn't mean that you shouldn't have fought a judgement against you or that you would have lost if you had.

It is better to get the judgement, even if you can't collect immediately.